Leading DeFi Coin Aave’s LEND Dives 15% Despite Positive Fundamentals

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Aave’s LEND token, along with its new token AAVE, has dropped heavily in the past 24 hours despite stagnation in the Bitcoin and Etheruem price. The : Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Aave Drops 15% Amid Strong Fundamental Trends

The drop in the price of LEND/AAVE comes in spite of the Aave protocol itself touting strong fundamental trends.

Spencer Noon, head of DTC Capital, once said that the

“One of the best signals of PMF in #DeFi is if a project can succeed w/o extra incentives (liquidity mining). @AaveAave doesn’t have LM yet it’s still one of the biggest beneficiaries of new yield farming activity. At $1.26B TVL and only $759M mcap—the fundamentals are so strong.”

Also, notable investor Kyle Samani said that if there was one Defi Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin

All of DeFi Still Bullish

It’s not just that AAVE’s fundamentals are strong, all of DeFi is currently in a positive place due to a number of trends.

OKEx just announced that it has frozen all withdrawals after a private key holder began cooperation with a public safety bureau. Many see the firm’s ability to freeze withdrawals as validation of decentralized exchanges, which put the power in the hands of the users to move their funds and trade their coins.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
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Price tags: lendusd, lendbtc, lendeth, aaveusd, aavebtc, aaveeth
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Leading DeFi Coin Aave's LEND Dives 15% Despite Positive Fundamentals

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