Aave Token Drops Below $90 Amid Proposal to Shut Down Underperforming Networks

Aave's governance token fell by nearly 7% on Saturday as traders cashed out ahead of the weekend, pushing its price below $90.

The decline comes amid a proposal to shut down six underperforming blockchain deployments to cut costs and focus on more active networks. The affected blockchains include Sonic, Scroll, zkSync, Metis, Soneium, and Aptos.

According to the proposal, these deployments generate less than $5,000 in revenue per quarter, which is not enough to cover the costs of maintaining them. Existing positions on these networks will remain open, but new deposits, borrowing, and collateral will no longer be accepted.