Aave’s total supplied value fell 28.9% to $30.97 billion over the last 30 days.
AAVE price dropped 11.67% in one month and traded near $93.42 at press time.
Technical analysis shows passive conditions and weak pressure conversion.
For a month now, the AAVE price has followed a clear downward trend as the asset continues to trade below $94. The downward trend, which has spanned without any major recoveries, has sent the AAVE0.17% deeper from its all-time high by over 88%. The price dip comes at a time when attackers have drained $291 million through the Kelp DAO exploit, initiating a liquidity crunch.
Aave Supply Drops 28.9% as Capital Continues to Leave the Protocol
As of today, on-chain data reveals that Aave’s total supplied value has dipped to $30.97 billion from $43.57 billion in 30 days, noting a 28.9% decline. At the same time, total borrowed value dropped to $14.31 billion from $17.22 billion. That move represented a 16.9% decline over the same 30-day wind
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