Aave Deposits Drop $10.1 Billion After rsETH Incident, Analyst Says

According to on-chain analyst Ember, total deposits on Aave fell from $45.8 billion to $35.7 billion since early yesterday.

Summary

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Terms & Concepts
  • Aave: A decentralized finance protocol that lets users lend and borrow crypto assets without a traditional intermediary.
  • On-chain analyst: A market researcher who studies blockchain data, such as wallet activity and protocol flows, to track crypto market developments.
  • rsETH: A crypto asset referenced in the report; the source does not provide further details about the token or the incident.