Aave and Lido TVL falls $1.7B amid stablecoin market shrinkage

Community Trust Score Verified 98 % Real Verified 42 votes Updated 1 minute ago Aave and Lido recorded a combined $1.7 billion decline in total value locked (TVL) between October 27 and November 3, 2024, following a security breach at Binance and a subsequent emergency freeze of Aave reserves. The capital contraction occurred against a backdrop of a broader stablecoin market decline, with DeFiLlama data showing stablecoin market capitalization fell by approximately $10.8 billion over the same 30-day period. Binance reported on November 3 that approximately $6.34 billion in assets were impacted by a security incident on October 29.

Source: The Currency Analytics