AAVE Price News: Drops 8% Amid Crypto Weakness Despite RWA DeFi Momentum
Aave's governance token (AAVE) dropped 8% to $208 due to bearish momentum, despite strong growth in its RWA lending arm, Horizon.Summary
Aave's governance token, AAVE, experienced sharp declines, falling 8% to $208 and shedding over 16% since Monday's high of $248, signaling clear bearish momentum with consecutive lower highs and lows.
This correction occurred despite Aave's institutional real-world asset (RWA) lending marketplace, Horizon, growing above $450 million since its launch two months prior. Trading activity surged 40% above seven-day averages, confirming active repricing, and AAVE underperformed the broader CoinDesk 5 Index (CD5), which fell nearly 4%.
Key technical indicators suggest further breakdown risk, as critical support at $211.00 failed, and volume spikes confirmed selling waves. A failed recovery attempt at $212.70 sets the stage for a deeper pullback.
(Source：CoinDesk)