AAVE Token Slides 12% as Whale Sells $37.59M and Governance Tensions Fuel Volatility

AAVEUSDT experienced a significant price decline over the past 24 hours, falling by 12.08% to $154.16 on Binance. The price drop is primarily attributed to heavy sell-offs by large holders, including one whale transaction involving 230,350 AAVE (approximately $37.59 million), as well as cascading long liquidations and a $120 million decrease in total value locked, according to on-chain data and DefiLlama. Market sentiment was further impacted by heightened governance tensions within the Aave community, with a key proposal and public opposition from the founder contributing to short-term volatility. Trading volume surged significantly during this period, with Binance recording 208,014.53 AAVE in 24-hour volume (34.52 million USDT), while circulating supply remains at 15.3 million AAVE and market capitalization is estimated between $2.44 billion and $2.78 billion.