Aave’s earnings soar as Australia cracks down on North Korea’s cybercrime
Aave, the decentralized finance (DeFi) platform, has witnessed a significant surge in earnings and trading activity. Its quarterly earnings reached $12.686 million, the fourth-highest since its inception. Meanwhile, Australia has enforced new sanctions on North Korea's cyber crime operations.
Aave's fee generation climbed to $124.59 million within just a month into the quarter, indicating a robust performance. The platform saw a 4% gain on the charts over the past 24 hours, although trading volume has declined, suggesting weak momentum behind the recent price jump. Perpetual traders continue to bet on an AAVE rally, with positive Open Interest Weighted Funding Rate.
Spot retail investors purchased $1.03 million worth of Aave in the last 24 hours, showing renewed interest. However, investors have begun exiting Aave's network, collectively earning $27.3 million from their AAVE holdings. This capital flight towards stablecoins is driven by increasing yields, which raise the opportunity costs of risky crypto assets.
In a separate development, Australia has imposed new sanctions on North Korea's cyber crime empire, targeting key individuals and entities involved in malicious cyber activities.
Aave's strong earnings and trading activity indicate a resilient performance in the DeFi sector. Despite some investor exits, the platform continues to attract retail investors. Meanwhile, Australia's new sanctions aim to disrupt North Korea's cyber crime operations, further isolating the regime.
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