Bitcoin found a place around $60,000 on Friday after this week’s sell-off, but the biggest gains came from decentralized finance (DeFi) and the Solana ecosystem.
Leading the advance was Aave’s native token. the largest DeFi lending protocol, which surged 19% in the last 24 hours. CoinDesk reported on Thursday that crypto exchange Kraken is exploring a strategic investment related to the lending protocol, acquiring a 15% stake at a valuation of $385 million.
Aave founder Stani Kulechov pushed back in an X article on the suggestion that Aave’s assets could be sold at a deep discount. He reiterated that all revenue from the protocol currently stands at $134 million annualized, he said. – flows to the Aave DAO and ultimately benefits AAVE token holders under the protocol’s recently adopted “Aave Will Win” framework.
Kulechov also announced “Aavenomics 3.0,” an upcoming overhaul of the token design that will introduce an automated redemption mechanism.
Solana activity boosted by tokenized stocks
Solana (SOL), the layer 1 blockchain known for its fast speed, and its ecosystem also outperformed, with SOL climbing nearly 10% on Friday.
