Defi Giant Aave Rakes in $6M in Revenue as Crypto Market Plunges

Aave secured $6 million in revenue from processing on-chain liquidations.The plunge trickled down to DeFi after last week's Bank of Japan decision to hike interest rates and Friday's U.S. jobs report. Ether"Aave Protocol withstood market stress across 14 active markets on various L1s and L2s, securing $21B worth of value," Aave's Stani KulechovThe decline in crypto prices led to several liquidations on Aave, including a $7.

The total value locked on DeFi protocols is now at $71 billion having dropped from $100 billion at the turn of the month, DefiLlamain a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

As Scottie Scheffler breaks records, his caddie rakes in record earningsScheffler is the first player since Arnold Palmer in 1962 with six PGA Tour victories by the end of June. His earnings are more than double that of second-place Xander Schauffele.
Source: PennLive - 🏆 463. / 53 Read more »

Harris rakes in significant support from group of venture capitalists as industry grows closer to RepublicansPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
Source: dcexaminer - 🏆 6. / 94 Read more »