A single wallet has withdrawn $150 million in USDT from Aave and deposited it into Spark’s USDT Savings product, known as spUSDT. The withdrawal occurred alongside double-digit borrowing rates, indicating market strain. Following the KelpDAO rsETH exploit in April 2026, which left Aave with approximately $195 million in bad debt, the protocol saw estimated net outflows of $10 to $16 billion. Spark emerged as the main beneficiary, capturing over 15% of Aave’s outflows with $2.4 billion in net deposit inflows. The transfer illustrates how large holders prioritize liquidity and risk controls over maximizing yield.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
