Why is Aave moving today?

Aave is slipping again, down 1.6% over 24 hours to $132.49 and 10.6% over the past week — a notably weaker run than Bitcoin, which is flat on the day and down 2.5% on the week. The clearest identifiable pressure is supply hitting exchanges: on-chain analyst 余烬 flagged an institution moving $12.2 million in Worldcoin and AAVE to exchanges, part of an estimated $45.38 million in WLD, ETH and AAVE sold over two days. That followed a 3.12% drop on Oct. 25 that took the token to $135.74.

The selling is happening despite constructive protocol news. Aave V4 deposits crossed $1.5 billion for the first time, and the V4 market on Base saw a $10 million surge in tokenized stock deposits, with Coinbase-tokenized shares usable as collateral for USDC loans outside the US. Aave also raised USDT borrowing costs, moving its Ethereum pool into the steeper rate tier at 92% utilization.

Broader sentiment is centered elsewhere, on Ripple's final OCC approval for a national trust bank and the regulator's push for community banks to issue stablecoins.