Bitcoin found some footing around $60,000 on Friday after this week’s sell-off, but the biggest gains came from decentralized finance (DeFi) and the Solana ecosystem.
Leading the advance was Aave’s native sign the largest DeFi lending protocol, which rose 19% in the last 24 hours. CoinDesk reported Thursday that crypto exchange Kraken is exploring a strategic investment tied to the lending protocol, acquiring a 15% stake at a valuation of $385 million.
In an X post, Aave founder Stani Kulechov pushed back against the suggestion that Aave assets could be sold at a steep discount. He reiterated that all protocol revenues – currently run at an annual $134 million, he said. — floats to the Aave DAO and ultimately benefits AAVE token holders under the protocol’s newly adopted “Aave Will Win” framework.
Kulechov also teased “Aavenomics 3.0,” an upcoming overhaul of the token’s design that will introduce an automated buyback mechanism.
Solana activity boosted by tokenized shares
Solana (SOL), the layer-1 blockchain known for its fast speed and its ecosystem, also fared better, with SOL climbing nearly 10% on Friday.
