Odaily Planet Daily News Since March, Bitcoin has been fluctuating between $76,000 and $95,000. The lack of a clear catalyst to break through the range makes it difficult for the market to gain sustained upward momentum. One of the signals reflecting the lack of market confidence comes from the decentralized lending platform Aave. Data shows that the borrowing cost of stablecoins such as USDT and USDC on Aave has dropped to around 4%, indicating that risk aversion is spreading to the crypto field.
Strahinja Savic, head of data and analysis at FRNT Financial, explained: "Aave's loan interest rate is affected by the utilization rate of deposit assets. As leverage demand and other trading strategies that require borrowing cool down, its interest rate will naturally go down." (Bloomberg)