Aave and Solana Lead Crypto Price Gains as Bitcoin (BTC) Stabilizes Near $60,000

bitcoin btc$59,569.44 found some footing around $60,000 on Friday after this week’s sell-off, but the biggest gains came from decentralized finance (DeFi) and the Solana ecosystem.

Leading the charge was the native Aave token. AVAVE$93.08the largest DeFi lending protocol, which is up 19% in the last 24 hours. CoinDesk reported Thursday that cryptocurrency exchange Kraken is exploring a strategic investment tied to the lending protocol, acquiring a 15% stake at a valuation of $385 million.

Aave founder Stani Kulechov rejected in an X publication the suggestion that Aave’s assets could be sold at a deep discount. He reiterated that all revenue from the protocol, which currently amounts to $134 million annualized, he said. – flows into the Aave DAO and ultimately benefits AAVE token holders based on the “Aave Will Win” framework recently adopted by the protocol.

Kulechov also teased “Aavenomics 3.0,” an upcoming token design overhaul that will introduce an automated buyback mechanism.

Solana activity fueled by tokenized shares

Solana (SOL), the Layer 1 blockchain known for its fast speed, and its ecosystem also fared better, with SOL up nearly 10% on Friday.