Golden Finance News: According to the monitoring data of on-chain analyst Yu Jin, the cryptocurrency exchange HTX has recently carried out a series of operations on the lending protocol Aave. It first extracted USDT from Aave and then re-deposited 570 million USDT into the platform. This move directly affected the lending rate of USDT on the Aave platform, causing it to rapidly fall back from a high APY of approximately 30% to the normal range. As of now, the deposit interest rate of USDT on the Aave platform is 3.73% and the borrowing interest rate is 5.06%.
As a relatively well-known exchange in the cryptocurrency field, HTX’s capital movement on the Aave platform has had a significant impact on market interest rates. The significant fluctuations and rapid return to normal of USDT lending rates this time reflect the close connection between capital flows and interest rates in the cryptocurrency market. At the same time, it also highlights the important impact of the operations of large trading institutions on decentralized finance (DeFi) platforms.
Market participants will continue to monitor the subsequent actions of HTX and other similar institutions, as well as their potential impact on the cryptocurrency lending market.
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