The native token of aave The biggest decentralized crypto lending protocol was caught in the middle of Friday’s crypto flash accident, while the protocol proved to be resistant in a historic liquidation cascade.
The token, which traded about $ 270 earlier last Friday, nosy up to 64% later at the session to touch $ 100, the lowest level of 14 months. It then staged a quick rebound to nearly $ 240, still down 10% over the last 24 hours.
Stani Kulechov, founder of Aave, described Friday’s event as the “biggest stress test” ever for the protocol and its $ 75 billion lending infrastructure.
The platform allows investors to borrow and borrow digital assets without conventional intermediaries using innovative mechanisms such as flash loans. Despite the extreme volatility, Aave’s performance emphasizes developing maturity and resilience in the defi markets.
“The protocol operated flawlessly and automatically liquidated a record $ 180 million security in just one hour without any human intervention,” Kulechov said in a Friday X -Post. “Once again Aave has proven his resilience.”
Keypreaching:
- Aave maintained a dramatic flash accident on Friday and fell 64% from $ 278.27 to $ 100.18 before returning to $ 240.09.
- The Defi Protocol demonstrated remarkable resilience with its original token’s 140% recovery from Intraday -Lavt, supported by a significant trading volume of 570,838 units.
- After the volatility, Aave Consolidation Territory entered into a narrow $ 237.71- $ 242.80 range as markets digested the dramatic price action.
Technical indicators Summary
- Price area from $ 179.12, representing 64% volatility in the 24-hour period.
- Volume rose to 570,838 units, which significantly exceeded the 175,000 average.
- Almost resistance identified for $ 242.80 capping rebound in the consolidation phase.
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