Aave Cuts Low-Usage Assets as Bulls Target $100

Aave, a prominent lending protocol, has announced plans to reduce its support for low-usage assets and blockchain deployments. According to founder Stani Kulechov, Aave will gradually end support for 50 asset reserves with limited usage.

The restructuring, which affects $98.1 million in assets and $15.6 million in outstanding loans, will also involve phasing out deployments on Sonic, Scroll, zkSync, and Aptos. This move is aimed at optimizing the protocol's resources and focus on high-potential markets.

The AAVE price has recovered from a recent decline, trading near $97.47. Bulls are now targeting resistance at $97.63, with a potential push toward $98.50 and the key $100 mark if this level is cleared.