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AAVE Drops 8% Amid Crypto Weakness Despite RWA DeFi Momentum

AAVE's price fell 8% to $208, following a peak of $248 earlier in the week, primarily due to heavy institutional selling and broader weakness in crypto markets. This decline marked a break of the pivotal $211 support level, indicating a bearish trend as the token established lower highs and lower lows. Despite the challenges, Aave's institutional lending arm, Horizon, saw significant growth, amassing $450 million in just two months since its launch. The trading volume increased by 40% above the seven-day average, signaling active selling rather than a passive drift. AAVE notably underperformed the CoinDesk 5 Index, which experienced a nearly 4% decline, emphasizing the overall market's instability. Technically, critical support failed at $211, with a resistance point at $235, raising concerns about further price pullback if recovery efforts falter.

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