Following a failed short attack, DeFi exploiter Avraham Eisenberg was liquidated from Aave at a loss of $10 million.
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BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE and FIL could breakout.
If Bitcoin rises above its overhead resistance, TON, APE, TWT and AAVE could begin to tack on outsized gains.
Some illiquid altcoins will have their borrow limit reduced by upwards of 99%.
The temporarily frozen lending markets include twelve Ethereum-based tokens and five stablecoins.
The last week of November remained turbulent for the crypto market as majority of the DeFi tokens struggled with the market volatility.
Bears are better positioned to profit roughly $215 million during November's Ether options expiry, putting pressure on ETH's price near a critical resistance level.
The exploit failed due to a miscalculation of Aave's liquidity levels.
It appears that shorting of CRV tokens was a distraction shot to exploit a sophisticated loophole on DeFi platform Aave.
Thanks to NFTs, crypto wallets will soon enable users to prove their credentials without using third-party background checks.