Dubbed the “Ghost Protocol,” the downturn in the general cryptocurrency market led to a fall in Aave’s [AAVE] revenue in Q3, Messari found in a new report. In its Q3 assessment of the cryptocurrency lending platform, Messari revealed that due to a 42% drop in outstanding debt on Aave, its revenue within the 90-day period […]
In its Q3 assessment of the cryptocurrency lending platform, Messari revealed that due to a 42% drop in outstanding debt on Aave, its revenue within the 90-day period fell sharply by 35%.
As reported by Messari, Aave’s revenue on Avalanche in the last six months totaled $10.65 million, having dropped by 53%. Conversely, its deployment on the L2 scaling blockchainInterestingly, in spite of a 44% decline, its deployment onFurthermore, as regards the quantum of revenue by token made by Aave in Q3, Messari discovered that the stablecoin revenue share on the protocol fell by 60% between July and September.
It was followed by its USD Coin revenue, which also dropped by 52.2%. On the other hand, Aave’s Wrapped Ethereum [wETH] revenue recorded the most gains in Q3 as borrowing demand surged due to the Ethereum Merge.Interestingly, Aave saw a surge in overall user activity in Q3. Daily and first-time users on the crypto lending platform grew by 49% and 15%, respectively.
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These updates might just make AAVE holders dream of better days…On 2 November, the Aave community voted to deploy the protocol on the zkSync 2.0 testnet. The proposal was originally presented by the Aave team in order to extend the decentralized lending service to the Ethereum roll-up’s testnet. The proposal was met with nearly unanimous approval from the community. Following the vote’s success, Aave will […]
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The Sandbox [SAND] investors must watch out for these ‘LAND’mines in Q4A new Messari report found that The Sandbox [SAND] was at the receiving end of some disinterest from the market. The general decline in interest in non-fungible tokens (NFTs) and tokenized blockchain gaming in Q3 culminated in a series of declines for the blockchain. According to NFTGo, The Sandbox is a community-driven platform that comprises […]
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BNB Chain: Impacted by the market downturn, this is how BNB faired in Q3Leading chain BNB Chain ended October by reaching an important milestone as it clinched an all-time high of 200 million unique addresses on the network. This milestone was reached despite the decline in network usage that plagued the chain in Q3, as reported by Messari in a new report. BNB Chain registers an industry first, […]
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