AAVE Token Drops 4% Amid BGD Labs Governance Exit and 700M USDT Institutional Transfers

AAVEUSDT has experienced a price decline over the past 24 hours, primarily attributed to the announcement that BGD Labs, a key developer and service provider, will exit Aave DAO governance by early April. This departure has sparked concerns about project continuity and governance, leading to increased selling activity and contributing to the current price decrease. Additional factors include heightened governance disputes and institutional transfers, such as a recent 700 million USDT move from HTX to Aave, indicating ongoing institutional engagement. The current AAVEUSDT price on Binance is 117.89, reflecting a 4.08% drop from the 24h open of 122.90, with notable trading volume and a circulating supply of approximately 15.33 million tokens out of 16 million, confirming active market participation.