“Onchain capital allocator Grove shared plans to boost Ripple USD, USDC stablecoin liquidity on Aave’s institutional lending arm Horizon for tokenized asset-backed borrowing.”, — write: www.coindesk.com
The token advanced was up over 10% on Monday to briefly top $230, only trailing oracle network Chainlink’s native token LINK$18.86 among the CoinDesk 20 Index members.
CoinDesk 20 Index weekend gains (CoinDesk Indices)
AAVE pared gains amid short-term profit taking emerged later in the Monday session, consolidating above $225, CoinDesk Research’s analysis model noted.
Apart from the price action, Aave is gaining momentum in the fast-growing tokenized asset lending market. Grove, an onchain capital allocator closely related to Sky (SKY), laid out plans to supply RLUSD$0.9998 and Circle’s USDC$0.9999 stablecoins to Horizon, Aave’s new institutional lending market where qualified borrowers post tokenized real-world assets as collateral for loans.
The integration, pending governance approval, could deepen liquidity for institutions borrowing against assets like US Treasury tokens. Horizon already supports collateral from issuers like Superstate and Centrifuge, with Chainlink LINK$18.86 providing valuation data and third-party risk assessments from Llama Risk and Chaos Labs.
If approved, Grove’s contribution could help turn tokenized assets into real working capital.
Technical indicators:
- Bullish momentum holds despite pullback from highs as token maintains uptrend above key support.
- Multiple failed attempts above $231.00 highlight persistent overhead resistance.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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