Aave Launches USDC Incentives on v4 in Base

On November 2, Aave launched USDC incentives on its v4 platform on the Base network. These incentives are designed for both existing and new users. According to the company, the rewards significantly reduce the cost of borrowing USDC against tokenized stocks. Cheaper capital is expected to lead to increased participation and adoption, which could strengthen Aave's competitive position in decentralized finance.

Pressure on AAVE

Seller pressure on AAVE remains persistent. A security incident with Mercado Bitcoin led to a withdrawal of $40 million. According to LookonChain, the hacker still holds 12.82 thousand AAVE worth $1.61 million – this could increase pressure on the altcoin, which has already depreciated by 6.16% over 24 hours. The analytical platform also noted that a large holder sold 184,203 AAVE worth $25.5 million over the past ten days.

Technical picture

Last week, AMBCrypto reported that $113 is a key level that decentralized finance token bulls must hold. On the higher timeframe, the trend is bearish, but the daily structure showed bulls in control – at least at that time. The $120 demand zone was tested, but the weak rebound faded at the local resistance of $140. The local support at $130, which seemed to have been reclaimed over the weekend, is also lost.

The range extends from $118.4 to $139, with the midpoint at $128.7. At the time of publication, the token was trading below the midpoint. The accumulation/distribution (A/D) indicator and the Awesome Oscillator showed increased selling pressure and downward momentum over the past 48 hours. According to the source, swing traders should monitor the 113–120 zone: a drop below it will signal a trend change on the daily chart and confirm a bearish sentiment.