Aave Slumps 3.5% Amid Broader Crypto Risk-Off

Aave's price has dropped by 3.5% over the last day due to broad risk-off sentiment and technical selling, according to CoinMarketCap.

The total crypto market is down about 1% over 24 hours, with the CMC Fear & Greed Index sitting in 'Fear' around 35, indicating a cautious risk-off backdrop rather than aggressive risk-taking.

This move is not exceptional for Aave, which has underperformed the overall market by about 2.41 percentage points over the same window.

The price action over the last day looks like a steady intraday fade rather than a single crash event, with Aave trading around $95-96 during the earlier part of the window and slipping stepwise into the low $90s later in the day.