Justin Sun Takes Out 52.5 Million Stablecoins from Aave

Key Points: Justin Sun has made a strategic decision to withdraw approximately 52.5 million stablecoins from the decentralized lending platform, AAVE. The sizable withdrawal consists of approximately 40.7 million USDT and 11.7 million USDC, stirring curiosity and speculation in the crypto community.

Timeline of Aave

Curve Founder Michael Egorov's $168M in holdings is under stress, imperiling DeFi as a whole. PLUS: The Litecoin Foundation and crypto cold-storage card manufacturer Ballet HAVE teased a sale of 500 collectable cards – fashioned from 50 grams of fine silver.

The stablecoin GHO, created by DeFi platform Aave, lost its $1 peg for a few hours on July 31. The token has risen to $0.98 since then, and analysts are theorizing what might have caused the depeg.

Aave's price surged to $88 just two weeks ago, but currently, the altcoin is experiencing a correction. Over the past 24 hours, Aave has dropped over 4%, and on the weekly chart, it has depreciated more than 7%.

ave's Q2 2023 report shows a 9% growth in total value supplied, outpacing the market. Key developments include the launch of GHO stablecoin, a rise in stETH deposits, and the anticipated release of Portals.

Lending and borrowing platform Aave (AAVE) has launched a new decentralized stablecoin on the Ethereum (ETH) mainnet. The dollar-pegged stablecoin, called GHO (GHO), is governed by the Aave decentralized autonomous organization (DAO). Nader Dabit, the director of developer relations at Aave, says that GHO is an “overcollateralized” stablecoin.

Aave Companies has unveiled version two of its Lens Protocol and introduced several new features for the web3 social app. Lens Protocol Now Allows Blocking Lens Protocol's parent organization, Aave Companies, has launched the much-anticipated V2 of the web3 social app.

Aave, a prominent lending protocol within the decentralized finance (defi) sphere, has unveiled GHO, a new stablecoin, which is now live on the Ethereum network. Aave users can now mint the stablecoin asset by leveraging Aave version three (v3).

Decentralized finance (DeFi) platform Aave has recently unveiled its new stablecoin, GHO, on the Ethereum mainnet. GHO is an algorithmic dollar-pegged stablecoin designed to provide stability and transparency to the DeFi ecosystem.

Curve, the renowned decentralized exchange protocol, has introduced the crvUSD/GHO liquidity pool, providing users with increased opportunities for trading and liquidity provision.

Aave DAO, a leading decentralized finance (DeFi) platform, has announced plans to introduce its native decentralized stablecoin, named GHO, on the Ethereum mainnet. This move is aimed at enhancing transparency for users and will involve minting the stablecoin using a diverse range of collateral assets held within the Aave Protocol.