Aave Faces Price dip Despite Successful Real-World asset Integration
Aave’s price took a hit, diving over 21% from its peak last week, entering a bearish phase. Interestingly, this plunge happened notwithstanding the growth of its newly launched Horizon platform for real-world asset tokenization.
Despite the price drop,Aave remains a standout in decentralized finance (DeFi). It has nearly reached its record-high total value locked at $40 billion,up 22% in the past month. Additionally,seven-day fees surged to $21.2 million.
The Horizon project is a significant contributor to this growth. Designed to link conventional and DeFi sectors, Horizon allows institutions to borrow stablecoins backed by real-world assets’ tokens.
the network began strong; available funds soared to $50 million,with loans totaling $6.2 million in just a short period. Ripple USD leads with $26.3 million in assets.
- Ripple USD leads with $26.3 million in assets.
- USD Coin follows with $8 million.
- Janus Henderson Anemoy Treasury Fund boasts over $2.08 million.
However, the Aave price chart shows a decrease from $385.32 to $300. Analysts predict further declines, possibly reaching $280. If the price falls below the channel’s lower boundary, it could dip as low as $245.
