After capital withdrawals caused a liquidity crisis, the annual percentage yields (or APY) on crypto borrowing have risen to new records. The variable APR on stablecoin borrowing via Aave at the time this article was written is The surge24.88% was achieved, as compared with approximately 6.50% the preceding day.

AccordingAccording to Igor Igamberdiev (crypto researcher), Justin Sun, a blockchain personality was responsible for billions of dollars worth in withdrawals over the last few hours. Based on Aave’s TVL (total value locked) of $17.89 trillion the previous day, it fell to $14.7 Billion. DataDeFi Pulse