$1.7B ETH Exodus Shakes Aave! Borrowing Rates Skyrocket Past 10%
TL;DR Whales withdrew $1.7B in ETH from Aave, forcing a simultaneous unwind of $1.2B in staked ETH positions (like wstETH), flooding the market with sell pressure.
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). It was created by Vitalik Buterin in 2013 as a way to expand the functionality of blockchain technology.
Ethereum’s native cryptocurrency,Ā EtherĀ (ETH), is used to pay for transaction fees and computational services on the network. Ethereum’sĀ smart contract functionalityĀ allows developers to create self-executing contracts that can automate complex transactions and operations, such as the transfer of assets, voting systems, and more. Ethereum’s flexibility andĀ community supportĀ have made it a popular choice for buildingĀ decentralized applicationsĀ and other blockchain-based projects.
TL;DR Whales withdrew $1.7B in ETH from Aave, forcing a simultaneous unwind of $1.2B in staked ETH positions (like wstETH), flooding the market with sell pressure.
TL;DR World Liberty Financial has purchased 3,473 ETH for roughly $13 million, staking the entire amount on Aave to generate DeFi returns. This brings the companyās
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