Crypto
Aave's Rebound Leads DeFi Market Higher Amid Stagnant Treasury Yields
Aave's AAVE token led the decentralized-finance (DeFi) sector's rebound on September 29, rising 11% as Bitcoin climbed. Despite Treasury yields remaining above 5%, the cryptocurrency market showed signs of improvement.
The DeFi Select Index gained 5.0% over the same period, while Curve DAO Token (CRV) increased 5.2%. Bitcoin traded at $84,170, up 1.4% from 24 hours prior.
Aavenomics 3.0 is a planned automated buyback program for AAVE, but its specifics are still unclear. The DAO operates a buyback program with a $50 million annual budget, making weekly purchases ranging from $250,000 to $1.75 million.