Bitcoin Rebounds to $88K, Aave’s Governance Proposal Drama

Cryptocurrency markets had a small rebound following final week’s dip, as investor exercise wound down through the holidays.

Bitcoin (BTC) fell to a weekly low of $86,561 on Tuesday, earlier than bouncing again above $88,600 on Friday, according to TradingView knowledge.

Spot Bitcoin exchange-traded funds (ETFs) demand remained weak, recording $175 million in outflows on Wednesday, which marked a fifth consecutive day of internet outflows, according to Farside Buyers.

Within the wider cryptocurrency area, members of the Aave neighborhood criticized their decentralized lending and borrowing protocol over what they described as a untimely push to advance a governance proposal on model asset possession.

The proposal, which sought to return management of the protocol’s model property and mental property to a DAO-controlled entity, was rejected on Friday, with a majority voting towards it.

Aave governance vote ends in rejection after neighborhood pushback

Aave token holders voted towards a controversial governance proposal in search of to place management of the protocol’s model property below DAO possession.

On Friday, the snapshot ballot closed with 55.29% voting “NAY” and 41.21% abstaining. Solely 3.5% of voters supported the proposal.

The proposal requested whether or not Aave (AAVE) token holders ought to regain management over Aave’s domains, social handles, naming rights and different mental property via an entity below a decentralized autonomous organization (DAO). Supporters framed the transfer as a step towards decentralization and clarifying questions on model stewardship.

The rejection closed a tense governance episode for Aave, one in every of decentralized finance’s (DeFi) greatest lending protocols. It highlighted how timing, escalation and participation can form governance outcomes in a DAO.

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DEX adoption, HIP-3 gasoline $200 HYPE case as rivals threaten Hyperliquid’s dominance

Decentralized perpetuals alternate Hyperliquid has been amongst crypto’s breakout tasks in 2025, however rivals’ profitable rewards techniques are vying to lure traders away.

Cantor Fitzgerald forecasts Hyperliquid’s HYPE (HYPE) token to surge to $200 by 2035. Hyunsu Jung, CEO of HYPE treasury firm Hyperion DeFi argues that the surge can be fueled by the Hyperliquid Improvement Proposal 3 (HIP-3).

“We see HIP-3 as the key driver of Hyperliquid’s subsequent part of development, and as a key enabler of the valuation framework proposed by Cantor,” Jung instructed Cointelegraph.

Perpetual swaps are futures spinoff contracts that monitor the worth of an underlying asset however haven’t any expiration date. Contracts keep their value shut to the spot property by a funding mechanism, which transfers funds between lengthy and brief place holders.

The market share of perpetual futures DEXs rose from 2.1% in January 2023 to a brand new all-time excessive of 11.7% in November 2025, according to a report by knowledge aggregator CoinGecko.

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CZ proposes repair to tackle poisoning after investor loses $50 million

Binance co-founder Changpeng Zhao proposed further safety measures to “eradicate” tackle poisoning, together with pockets warnings and blacklists of suspicious accounts.

“All wallets ought to merely verify if a receiving tackle is a ‘poison tackle,’ and block the consumer. It is a blockchain question,” Zhao wrote in a Wednesday weblog post.

Address poisoning is a type of phishing wherein scammers trick victims into sending crypto to illicit wallets by first sending them small transactions. Unsuspecting customers typically copy and paste the attacker’s tackle from their pockets historical past.

Phishing scams cost 6,344 victims over $7.7 million in November, in accordance to Rip-off Sniffer knowledge. That quantity is predicted to surge in December largely due to $50 million in USDT (USDT) lost by a single sufferer on Friday.

“Lastly, wallets shouldn’t even show these spam transactions wherever. If the worth of the [transaction] is small, simply filter it out,” Zhao added.

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Ethena’s USDe misplaced $8.3 billion since October crash amid “lack of confidence”

Ethena’s artificial greenback USDe has shed about $8.3 billion in internet outflows for the reason that major liquidation event on Oct. 10, as confidence in leveraged and artificial collateral buildings continues to weaken.

In accordance to a report from 10x Analysis, the October sell-off marked a turning level for the crypto market, flipping the bull part right into a interval of deleveraging. The crash erased an estimated $1.3 trillion in crypto market worth, practically 30% of complete capitalization on the time.

Ethena USDe (USDE), which depends on artificial collateral and hedging mechanisms quite than conventional fiat reserves, confronted a “sharp lack of confidence” below these situations, the analysts wrote.

In accordance to knowledge from CoinMarketCap, USDe’s market cap stood at practically $14.7 billion on Oct. 9. In simply over two months, that worth has dropped to round $6.4 billion.

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Uniswap charge change to go dwell as neighborhood vote set to go

The extremely anticipated Uniswap protocol charge change, dubbed “UNIfication,” handed and was to go dwell later this week, having reached the 40 million vote threshold wanted to set off one of many greatest upgrades within the decentralized alternate protocol’s seven-year historical past.

Uniswap Labs CEO Hayden Adams said on Thursday {that a} profitable vote would comply with a two-day timelock interval wherein Uniswap v2 and v3 charge switches would flip on the Unichain mainnet, triggering the burning of extra Uniswap (UNI) tokens.

The proposal will see 100 million UNI tokens burned from the Uniswap Basis’s treasury, whereas a Protocol Charge Low cost Auctions system to improve liquidity supplier returns would even be applied.

The modifications are anticipated to considerably enhance the supply-demand dynamics of the UNI token and make it a extra interesting token to maintain over the long run.

Information of the UNIfication proposal in early November spurred a close to 40% rally within the UNI token, taking it from about $7 to $9.70 on Nov. 11.

Uniswap is the most important decentralized alternate and has processed greater than $4 trillion in buying and selling quantity since launching in November 2018. CoinGecko data reveals that UNI is the thirty ninth largest token by market cap, at $3.8 billion.

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DeFi market overview

In accordance to knowledge from Cointelegraph Markets Pro and TradingView, many of the 100 largest cryptocurrencies by market capitalization ended the week within the inexperienced.

The Pippin (PIPPIN) memecoin rose over 41% because the week’s greatest gainer, adopted by the Canton (CC) token, up over 25% on the weekly chart.

Thanks for studying our abstract of this week’s most impactful DeFi developments. Be part of us subsequent Friday for extra tales, insights and training relating to this dynamically advancing area.