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Aave, the leading decentralized lending protocol, saw its USDT liquidity plummet below $100 million after a massive withdrawal linked to HTX and Justin Sun. The sudden exit caused interest rates to spike, triggering market shifts and concerns over liquidity imbalances.
- Aave's USDT liquidity fell below $100M after a $570M withdrawal linked to Justin Sun's HTX exchange.
- USDT interest rates on Aave spiked dramatically, with deposit rates surging from 3.8% to 29%.
- Despite the liquidity crunch, Aave maintains dominance in DeFi with over $40B in TVL and recent institutional adoption.
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