Two Aave stablecoin backstops shrank $12.4 million as reward rates rose
Two tracked Ethereum V3 Umbrella stakes fell 9.7%, while their implied annualized reward run rate stayed near $2 million. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
AI summary
Two Aave Ethereum V3 Umbrella stablecoin backstops shrank by a combined $12.4 million, a 9.7% decline in tracked stakes, even as implied annualized reward run rates held near $2 million. The data points to depositors rotating out of the backstop pools despite attractive yields. Traders watching Aave's risk buffer should note the reduced cushion, though the move is modest relative to total protocol TVL and not clearly directional for price.
