AAVE falls 6% to $135 as token slips below key support despite lending market growth

AAVE, the governance token for the Aave decentralized lending protocol, declined approximately 6% to trade near $135 on October 24 as broad market selling pressure outweighed recent positive developments within the platform’s lending ecosystem. At 11:46 UTC, AAVE registered a 24-hour decline of 5.29% to $140.12, before a further drop to about $135 in subsequent trading. This downturn extended a challenging week, with the token retreating from levels above $154 seen earlier in October. AAVE’s slide pushed prices below several critical short-term technical indicators.

Source: CoinTurk News