AAVE Falls 30% in Four Weeks, Underperforming Bitcoin and Ether

The divergence between AAVE's steep token decline and the more resilient dollar-denominated locked value suggests the selloff is concentrated in governance-token sentiment rather than a broad withdrawal of capital from the protocol. That gap matters for Aave's DAO and token holders, since it implies markets are repricing the token's risk premium while usage metrics hold steadier. Whether that spread persists — or whether locked value eventually follows the token lower — is the key signal to watch.