AAVE Price Bulls Target $100 After Protocol Restructuring News
TLDR
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Aave plans to end support for 50 low-usage asset reserves after reviewing its markets.
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The protocol will phase out deployments on Sonic, Scroll, zkSync, and Aptos.
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The restructuring covers $98.1 million in assets and $15.6 million in outstanding loans.
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AAVE price recovered toward $97.47 and remained above key long-term moving averages.
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Bulls must clear resistance at $97.63 before targeting $98.50 and $100.
AAVE price traded near $97.47 after Aave announced plans to reduce support for low-usage assets and blockchain deployments. The token recovered from a sharp decline toward $96 and gained about 0.84% during the latest four-hour candle.
The price now faces resistance near the 20-period exponential moving average at $97.63. A clear move above this level could support a push toward $98.50 and the key $100 mark.
Aave Plans Broad Protocol Restructuring
Aave founder Stani Kulechov said the protocol will gradually end support for 50 asset reserves with limited usage. BlockBeats reported the announcement on July 30 after Aave completed a review of its supported markets.
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