But these losses are too miniscule to revert the token’s gains from the start of the year. With the launch of AAVE’s V3 on its mainnet, the crypto might be in a position to tally new highs if the situation permits it. Image: Coinpedia The Gist Of The Proposal & On-Chain Developments Based on the proposal, the token has over 2,677,749 units of CRV in debt on its Ethereum V2 CRV reserve.
According to reports, AAVE has passed a governance proposal that would eradicate all bad debt it accumulated when Avraham Eisenberg, orchestrator of the Mango Markets exploit, targeted the platform’s Ethereum V2 liquidity pool back in November 2022. However, the governance token of the platform, AAVE, has not responded either positively or negatively.
As these major cryptocurrencies retest their crucial resistances, a breakthrough by either one or both of these coins would boost AAVE’s momentum to regain lost ground. With this in mind, investors and traders should exercise caution in the short to medium term as the token can still be clawed by the bears to revert back to $78.65.
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