Bitcoin Some of the gains near $60,000 came on Friday after this week’s selloff, but the biggest gains came from decentralized finance (DeFi) and the Solana ecosystem.
Advance Leadership was Aave’s native token The largest DeFi lending protocol, which jumped 19% in the last 24 hours. CoinDesk reported Thursday that crypto exchange Kraken is exploring a strategic investment involving lending protocol, acquiring a 15% stake at a valuation of $385 million.
Aave founder Steny Kulechov rejected suggestions in an X post that Aave’s assets could be sold at a steep discount. He reiterated that all protocol revenues – currently running at $134 million annually, he said. – Aave flows into the DAO and ultimately benefits AAVE token holders under the protocol’s recently adopted “Aave Will Win” framework.
Kulechov also teased “Avenomics 3.0,” an upcoming overhaul to the token’s design that will introduce an automated buyback mechanism.
Solana activity boosted by tokenized stocks
Solana (SOL), the layer-1 blockchain known for its lightning-fast speeds, and its ecosystem also outperformed, with SOL up nearly 10% on Friday.