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AAVE Seeks Proposal To Clear Itself Of Bad Debt – Can It Overcome These Obstacles?

NewsBTC LogoNewsBTC1 mo ago

AAVE Seeks Proposal To Clear Itself Of Bad Debt – Can It Overcome These Obstacles? - NewsBTC

Quick Summary:

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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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-29 @ 10:33:28 (1 months ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 42 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 4922768

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Official Website: newsbtc.com

Year Established: 2013

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News Last Updated: 1 months ago

Coverage Areas: United Kingdom

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Publisher ID: #102

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