AAVE’s native token The largest decentralized crypto lending protocol, was caught in the middle of Friday Crypto flash crash While the protocol has proven to be elastic to a historic cascade extermination.
The token, which traded around $ 270 earlier on Friday, nosed it 64% later in the session to hold $ 100, the lowest level in 14 months. It then presented a quick rebound at close to $ 240, still dropped by 10% in the past 24 hours.
Stani Kulechov, founder of AAVE, described the event on Friday as “biggest stress test” ever for protocol and the $ 75 billion lending infrastructure.
The platform allows investors to lend and borrow digital assets without conventional mediators, using innovative mechanisms such as flash loans. Despite the intense volatility, AAVE performance emphasizes the emerging maturity and elastic of the defi markets.
“Protocol operates flawlessly -misk, automatically liquid a record of $ 180m worth of collateral in just one hour, without human intervention,” Kulechov said on Friday X post. “Again, AAVE has proven its stability.”
Main Price Action:
- AAVE won a dramatic flash crash on Friday, which rejected 64% from $ 278.27 to $ 100.18 before recuperating to $ 240.09.
- The Defi Protocol has shown noticeable stability along with a 140% token recovery from Intraya Lows, supported by a large trading volume of 570,838 units.
- Following the volatility, the AAVE entered the territory of integration within a narrow $ 237.71- $ 242.80 range as markets were digging dramatic price action.
Technical summary
- Price range of $ 179.12 representing 64% volatility during 24 hours.
- The volume rises to 570,838 units, which exceeds 175,000 average.
- Closely resistance identified at $ 242.80 capping rebound during integration.
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