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AAVE Price News: Drops 8% Amid Crypto Weakness Despite RWA DeFi Momentum

AAVE's price fell 8% to $208 in response to significant institutional selling, breaking key support levels amidst a broader crypto market downturn. The token declined sharply from a high of $248 earlier in the week, indicating a shift to bearish momentum as the support at the $211 level crumbled. Despite the decline, AAVE's institutional real-world asset lending arm, Horizon, saw growth, reaching $450 million within two months of its launch. Trading volume for AAVE surged 40% above the seven-day average, signaling a reassessment of its market value. Technical indicators suggested further breakdown risks for the token, with lower highs and lows setting a bearish trend, emphasizing its underperformance relative to the CoinDesk 5 Index, which fell nearly 4%. AAVE's decline coincided with a general correction in the crypto markets, as other major tokens experienced significant drops as well.

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