H&#7879; sinh th&aacute;i cho vay tr&ecirc;n chu&#7895;i c&#7911;a Ethereum v&#7915;a &#273;&#7841;t m&#7897;t c&#7897;t m&#7889;c m&#7899;i, khi t&#7893;ng l&#432;&#7907;ng kho&#7843;n vay &#273;ang ho&#7841;t &#273;&#7897;ng &#273;&atilde; v&#432;&#7907;t qua 28 t&#7927; USD v&agrave;o th&aacute;ng 01/2026.
&#272;&oacute;ng vai tr&ograve; trung t&acirc;m cho s&#7921; ph&aacute;t tri&#7875;n n&agrave;y l&agrave; Aave, giao th&#7913;c cho vay h&agrave;ng &#273;&#7847;u tr&ecirc;n Ethereum, hi&#7879;n ki&#7875;m so&aacute;t kho&#7843;ng 70% th&#7883; ph&#7847;n cho vay &#273;ang ho&#7841;t &#273;&#7897;ng c&#7911;a m&#7841;ng l&#432;&#7899;i n&agrave;y.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-aave-s-automated-liquidations-prevent-defi-contagion-amid-weekend-crash">T&#7921; &#273;&#7897;ng thanh l&yacute; c&#7911;a Aave gi&uacute;p ng&#259;n ch&#7863;n l&acirc;y lan DeFi trong &#273;&#7907;t s&#7909;t gi&aacute; cu&#7889;i tu&#7847;n</h2>

D&#7919; li&#7879;u t&#7915; Token Terminal ch&#7881; ra r&#7857;ng t&#7893;ng l&#432;&#7907;ng kho&#7843;n vay &#273;ang ho&#7841;t &#273;&#7897;ng tr&ecirc;n c&aacute;c <a href="https://beincrypto.com/learn/defi-lending" target="_blank" rel="noreferrer noopener">n&#7873;n t&#7843;ng cho vay d&#7921;a tr&ecirc;n Ethereum</a> &#273;&atilde; t&#259;ng g&#7845;p m&#432;&#7901;i l&#7847;n so v&#7899;i m&#7913;c th&#7845;p nh&#7845;t c&#7911;a th&aacute;ng 01/2023.
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/WtrzIjvfZkD3imcgR3JtwXaBA98=/smart/88b421966da640f18f9f68d80621e79e" alt="Kho&#7843;n vay &#273;ang ho&#7841;t &#273;&#7897;ng t&#7841;i c&aacute;c n&#7873;n t&#7843;ng cho vay tr&ecirc;n Ethereum" class="wp-image-799331">Kho&#7843;n vay &#273;ang ho&#7841;t &#273;&#7897;ng t&#7841;i c&aacute;c n&#7873;n t&#7843;ng cho vay tr&ecirc;n Ethereum. Ngu&#7891;n: <a href="https://x.com/tokenterminal/status/2018464977628332453" target="_blank" rel="noreferrer noopener nofollow">Token Terminal tr&ecirc;n X</a>

C&#7897;t m&#7889;c n&agrave;y th&#7875; hi&#7879;n <a href="https://vn.beincrypto.com/ethereum-dominance-surge/" target="_blank" rel="noreferrer noopener">s&#7913;c m&#7841;nh d&#7851;n &#273;&#7847;u c&#7911;a Ethereum trong l&#297;nh v&#7921;c DeFi</a>. Ethereum hi&#7879;n &#273;ang c&oacute; l&#7907;i th&#7871; g&#7845;p kho&#7843;ng m&#432;&#7901;i l&#7847;n so v&#7899;i c&aacute;c m&#7841;ng l&#432;&#7899;i &#273;&#7889;i th&#7911; nh&#432; Solana hay Base.
L&#432;&#7907;ng giao d&#7883;ch cho vay t&#259;ng m&#7841;nh, b&ecirc;n c&#7841;nh vi&#7879;c ch&#7913;ng minh m&#7913;c &#273;&#7897; ch&#7845;p nh&#7853;n r&#7897;ng h&#417;n c&#7911;a DeFi, c&#361;ng &#273;&#7863;t ra nh&#7919;ng c&acirc;u h&#7887;i v&#7873; r&#7911;i ro h&#7879; th&#7889;ng.
N&#259;m 2022, kh&#7889;i l&#432;&#7907;ng kho&#7843;n vay cao &#273;&atilde; d&#7851;n t&#7899;i c&aacute;c &#273;&#7907;t thanh l&yacute; quy m&ocirc; l&#7899;n, khi&#7871;n th&#7883; tr&#432;&#7901;ng c&agrave;ng gi&#7843;m s&acirc;u. &#272;&#7871;n qu&yacute; 3/2025, quy m&ocirc; cho vay crypto &#273;&atilde; l&ecirc;n &#273;&#7871;n 73.6 t&#7927; USD &ndash; t&#259;ng 38.5% so v&#7899;i qu&yacute; tr&#432;&#7899;c v&agrave; g&#7847;n g&#7845;p ba l&#7847;n so v&#7899;i &#273;&#7847;u n&#259;m 2024.
Theo c&aacute;c nh&agrave; ph&acirc;n t&iacute;ch t&#7841;i Kobeissi, di&#7877;n bi&#7871;n n&agrave;y ch&#7911; y&#7871;u &#273;&#432;&#7907;c th&uacute;c &#273;&#7849;y b&#7903;i c&aacute;c giao th&#7913;c DeFi h&#432;&#7903;ng l&#7907;i t&#7915; vi&#7879;c c&aacute;c qu&#7929; ETF Bitcoin &#273;&#432;&#7907;c ph&ecirc; duy&#7879;t c&ugrave;ng l&agrave;n s&oacute;ng h&#7891;i ph&#7909;c chung c&#7911;a to&agrave;n th&#7883; tr&#432;&#7901;ng.
M&#7913;c &#273;&ograve;n b&#7849;y trong DeFi v&#7851;n th&#7845;p h&#417;n r&#7845;t nhi&#7873;u so v&#7899;i c&aacute;c ng&agrave;nh truy&#7873;n th&#7889;ng &ndash; ch&#7881; chi&#7871;m kho&#7843;ng 2.1% tr&ecirc;n t&#7893;ng gi&aacute; tr&#7883; th&#7883; tr&#432;&#7901;ng t&agrave;i s&#7843;n s&#7889; 3.5 ngh&igrave;n t&#7927; USD, trong khi con s&#7889; n&agrave;y &#7903; b&#7845;t &#273;&#7897;ng s&#7843;n l&agrave; 17%. Tuy nhi&ecirc;n, s&#7921; t&#7853;p trung giao d&#7883;ch &#7903; c&aacute;c n&#7873;n t&#7843;ng cho vay t&#7921; &#273;&#7897;ng nh&#432; Aave l&#7841;i l&agrave;m t&#259;ng kh&#7843; n&#259;ng x&#7843;y ra c&aacute;c &#273;&#7907;t thanh l&yacute; t&#7921; &#273;&#7897;ng quy m&ocirc; l&#7899;n.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-weekend-crash-highlights-aave-s-role-as-defi-s-stabilizer-amid-2-2-billion-liquidations">S&#7921; s&#7909;p &#273;&#7893; cu&#7889;i tu&#7847;n cho th&#7845;y vai tr&ograve; c&#7911;a Aave nh&#432; &ldquo;b&#7897; &#7893;n &#273;&#7883;nh&rdquo; DeFi gi&#7919;a l&agrave;n s&oacute;ng thanh l&yacute; tr&#7883; gi&aacute; 2,2 t&#7927; USD</h2>

S&#7921; ki&#7879;n s&#7909;t gi&#7843;m m&#7841;nh v&agrave;o cu&#7889;i tu&#7847;n cu&#7889;i th&aacute;ng 01/2026 &#273;&atilde; th&#7917; nghi&#7879;m s&#7913;c ch&#7883;u &#273;&#7921;ng c&#7911;a h&#7879; th&#7889;ng n&agrave;y d&#432;&#7899;i &aacute;p l&#7921;c c&#7921;c l&#7899;n. <a href="https://vn.beincrypto.com/markets-crashed-overnight-gold-recovered-bitcoin-didnt/" target="_blank" rel="noreferrer noopener">Bitcoin &#273;&atilde; lao d&#7889;c m&#7841;nh t&#7915; kho&#7843;ng 84,000 USD xu&#7889;ng d&#432;&#7899;i 76,000 USD</a> do:
<ul class="bic-gutenberg-list wp-list list-disc ">
<li>Thanh kho&#7843;n m&#7887;ng v&agrave;o cu&#7889;i tu&#7847;n</li>

<li>C&#259;ng th&#7859;ng &#273;&#7883;a ch&iacute;nh tr&#7883; t&#7841;i Trung &#272;&ocirc;ng</li>

<li>&Aacute;p l&#7921;c t&#7915; nh&#7919;ng b&#7845;t &#7893;n v&#7873; ng&acirc;n s&aacute;ch ch&iacute;nh ph&#7911; M&#7929;.</li>
</ul>

Ch&#7881; trong v&ograve;ng 24 gi&#7901; &#273;&atilde; c&oacute; h&#417;n 2.2 t&#7927; USD c&aacute;c v&#7883; th&#7871; d&ugrave;ng &#273;&ograve;n b&#7849;y b&#7883; thanh l&yacute; tr&ecirc;n c&#7843; s&agrave;n t&#7853;p trung v&agrave; phi t&#7853;p trung.
H&#7841; t&#7847;ng c&#7911;a Aave &#273;&oacute;ng vai tr&ograve; then ch&#7889;t trong vi&#7879;c gi&#7919; &#7893;n &#273;&#7883;nh th&#7883; tr&#432;&#7901;ng. Giao th&#7913;c n&agrave;y &#273;&atilde; x&#7917; l&yacute; h&#417;n 140 tri&#7879;u USD gi&aacute; tr&#7883; t&agrave;i s&#7843;n b&#7883; thanh l&yacute; t&#7921; &#273;&#7897;ng tr&ecirc;n nhi&#7873;u m&#7841;ng l&#432;&#7899;i trong ng&agrave;y 31/01/2026.
D&ugrave; ph&iacute; gas tr&ecirc;n Ethereum c&oacute; l&uacute;c t&#259;ng v&#7885;t v&#432;&#7907;t 400 gwei &ndash; khi&#7871;n xu&#7845;t hi&#7879;n nhi&#7873;u &ldquo;v&#7883; th&#7871; ma&rdquo; khi c&aacute;c kho&#7843;n vay thi&#7871;u t&agrave;i s&#7843;n &#273;&#7843;m b&#7843;o &#273;&#7913;ng s&aacute;t ng&#432;&#7905;ng thanh l&yacute; nh&#432;ng ch&#432;a th&#7875; b&#7883; x&#7917; l&yacute; ngay do kh&ocirc;ng sinh l&#7907;i, Aave v&#7851;n v&#7853;n h&agrave;nh tr&#417;n tru, kh&ocirc;ng x&#7843;y ra downtime hay ph&aacute;t sinh n&#7907; x&#7845;u.
Hi&#7879;u su&#7845;t c&#7911;a Aave &#273;&atilde; ng&#259;n ng&#7915;a k&#7883;ch b&#7843;n t&#7879; h&#417;n c&oacute; th&#7875; lan r&#7897;ng. N&#7871;u giao th&#7913;c n&agrave;y g&#7863;p s&#7921; c&#7889;, c&aacute;c kho&#7843;n vay thi&#7871;u t&agrave;i s&#7843;n &#273;&#7843;m b&#7843;o s&#7869; t&iacute;ch t&#7909; th&agrave;nh n&#7907; x&#7845;u, k&eacute;o theo hi&#7879;u &#7913;ng domino thanh l&yacute; v&agrave; kh&#7843; n&#259;ng ho&#7843;ng lo&#7841;n tr&ecirc;n to&agrave;n h&#7879; sinh th&aacute;i.
M&#7897;t s&#7889; giao th&#7913;c kh&aacute;c nh&#432; Compound, Morpho, v&agrave; Spark c&#361;ng x&#7917; l&yacute; m&#7897;t l&#432;&#7907;ng nh&#7887; c&aacute;c kho&#7843;n b&#7883; thanh l&yacute;, tuy nhi&ecirc;n, quy m&ocirc; v&agrave; m&#7913;c &#273;&#7897; t&#7921; &#273;&#7897;ng h&oacute;a c&#7911;a h&#7885; v&#7851;n ch&#432;a th&#7875; thay th&#7871; ho&agrave;n to&agrave;n vai tr&ograve; c&#7911;a Aave.
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/zQmETktGdlSLeUee4oYpKoYNeOk=/smart/8cb776c13cfe4d51a5ec01f769a5644e" alt="X&#7871;p h&#7841;ng c&aacute;c giao th&#7913;c cho vay" class="wp-image-799333">X&#7871;p h&#7841;ng c&aacute;c giao th&#7913;c cho vay. Ngu&#7891;n: <a href="https://defillama.com/protocols/lending" target="_blank" rel="noreferrer noopener nofollow">DefiLlama</a>

Ngay c&#7843; nh&#7919;ng c&aacute; voi ETH l&#7899;n, nh&#432; <a href="https://vn.beincrypto.com/not-tom-lees-bitmine-trend-research-eth-liquidation/" target="_blank" rel="noreferrer noopener">Trend Research</a>, c&#361;ng ph&#7843;i gi&#7843;m &#273;&ograve;n b&#7849;y b&#7857;ng c&aacute;ch b&aacute;n ra h&agrave;ng tr&#259;m tri&#7879;u USD ETH &#273;&#7875; <a href="https://vn.beincrypto.com/ethereum-whales-dump-to-repay-aave-debt/" target="_blank" rel="noreferrer noopener">tr&#7843; n&#7907; kho&#7843;n vay tr&ecirc;n Aave</a>. H&#7885; c&#361;ng d&#7921;a v&agrave;o kh&#7843; n&#259;ng x&#7917; l&yacute; hi&#7879;u qu&#7843; c&#7911;a giao th&#7913;c n&agrave;y &#273;&#7875; h&#7841;n ch&#7871; r&#7911;i ro lan r&#7897;ng cho to&agrave;n th&#7883; tr&#432;&#7901;ng.
&#272;&#7907;t crash cu&#7889;i tu&#7847;n v&#7915;a qua &#273;&atilde; ch&#7881; r&otilde; c&#7843; c&#417; h&#7897;i l&#7851;n r&#7911;i ro ti&#7873;m &#7849;n trong h&#7879; sinh th&aacute;i cho vay c&#7911;a Ethereum.
M&#7863;c d&ugrave; kho&#7843;n vay v&agrave; &#273;&ograve;n b&#7849;y v&#7851;n &#273;ang t&#259;ng, nh&#432;ng s&#7921; ki&ecirc;n c&#432;&#7901;ng c&#7911;a Aave cho th&#7845;y h&#7841; t&#7847;ng DeFi &#273;ang ng&agrave;y c&agrave;ng ho&agrave;n thi&#7879;n, tr&#432;&#7903;ng th&agrave;nh h&#417;n.
Kh&#7843; n&#259;ng &ldquo;h&#7845;p th&#7909;&rdquo; l&#7847;n thanh l&yacute; l&#7899;n m&agrave; kh&ocirc;ng g&acirc;y ra s&#7921; c&#7889; h&#7879; th&#7889;ng c&#7911;ng c&#7889; v&#7883; th&#7871; c&#7911;a m&#7843;ng cho vay tr&ecirc;n Ethereum nh&#432; m&#7897;t l&#7921;c l&#432;&#7907;ng &#7893;n &#273;&#7883;nh trong th&#7883; tr&#432;&#7901;ng bi&#7871;n &#273;&#7897;ng. &#272;i&#7873;u n&agrave;y c&#361;ng gi&uacute;p t&#259;ng ni&#7873;m tin c&#7911;a c&#7843; c&aacute;c t&#7893; ch&#7913;c l&#7851;n nh&agrave; &#273;&#7847;u t&#432; nh&#7887; l&#7867; v&agrave;o l&#7921;a ch&#7885;n &ldquo;tr&uacute; &#7849;n an to&agrave;n&rdquo; n&agrave;y.
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/nQomDFOg6ghfCiC9kQHFGMii6MU=/smart/e90c441188e34d18934ee4a71995cfbe" alt="Hi&#7879;u su&#7845;t gi&aacute; AAVE" class="wp-image-799334">Hi&#7879;u su&#7845;t gi&aacute; AAVE. Ngu&#7891;n: <a href="https://beincrypto.com/price/aave/" target="_blank" rel="noreferrer noopener">BeInCrypto</a>

D&ugrave; tri&#7875;n v&#7885;ng t&iacute;ch c&#7921;c, gi&aacute; token AAVE l&#7841;i &#273;ang gi&#7843;m h&#417;n 6% trong 24 gi&#7901; qua, v&agrave; t&#7841;i th&#7901;i &#273;i&#7875;m vi&#7871;t b&agrave;i ch&#7881; c&ograve;n 119.42 USD.

Hoạt động cho vay Ethereum chạm mốc 28 tỷ USD sau khi Aave chứng minh khả năng bảo vệ DeFi trong đợt sụt giảm cuối tuần

H&#7879; sinh th&aacute;i cho vay tr&ecirc;n chu&#7895;i c&#7911;a Ethereum v&#7915;a &#273;&#7841;t m&#7897;t c&#7897;t m&#7889;c m&#7899;i, khi t&#7893;ng l&#432;&#7907;ng kho&#7843;n vay &#273;ang ho&#7841;t &#273;&#7897;ng &#273;&atilde; v&#432;&#7907;t qua 28 t&#7927; USD v&agrave;o th&aacute;ng 01/2026.
&#272;&oacute;ng vai tr&ograve; trung t&acirc;m cho s&#7921; ph&aacute;t tri&#7875;n n&agrave;y l&agrave; Aave, giao th&#7913;c cho vay h&agrave;ng &#273;&#7847;u tr&ecirc;n Ethereum, hi&#7879;n ki&#7875;m so&aacute;t kho&#7843;ng 70% th&#7883; ph&#7847;n cho vay &#273;ang ho&#7841;t &#273;&#7897;ng c&#7911;a m&#7841;ng l&#432;&#7899;i n&agrave;y.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-aave-s-automated-liquidations-prevent-defi-contagion-amid-weekend-crash">T&#7921; &#273;&#7897;ng thanh l&yacute; c&#7911;a Aave gi&uacute;p ng&#259;n ch&#7863;n l&acirc;y lan DeFi trong &#273;&#7907;t s&#7909;t gi&aacute; cu&#7889;i tu&#7847;n</h2>

D&#7919; li&#7879;u t&#7915; Token Terminal ch&#7881; ra r&#7857;ng t&#7893;ng l&#432;&#7907;ng kho&#7843;n vay &#273;ang ho&#7841;t &#273;&#7897;ng tr&ecirc;n c&aacute;c <a href="https://beincrypto.com/learn/defi-lending" target="_blank" rel="noreferrer noopener">n&#7873;n t&#7843;ng cho vay d&#7921;a tr&ecirc;n Ethereum</a> &#273;&atilde; t&#259;ng g&#7845;p m&#432;&#7901;i l&#7847;n so v&#7899;i m&#7913;c th&#7845;p nh&#7845;t c&#7911;a th&aacute;ng 01/2023.
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/WtrzIjvfZkD3imcgR3JtwXaBA98=/smart/88b421966da640f18f9f68d80621e79e" alt="Kho&#7843;n vay &#273;ang ho&#7841;t &#273;&#7897;ng t&#7841;i c&aacute;c n&#7873;n t&#7843;ng cho vay tr&ecirc;n Ethereum" class="wp-image-799331">Kho&#7843;n vay &#273;ang ho&#7841;t &#273;&#7897;ng t&#7841;i c&aacute;c n&#7873;n t&#7843;ng cho vay tr&ecirc;n Ethereum. Ngu&#7891;n: <a href="https://x.com/tokenterminal/status/2018464977628332453" target="_blank" rel="noreferrer noopener nofollow">Token Terminal tr&ecirc;n X</a>

C&#7897;t m&#7889;c n&agrave;y th&#7875; hi&#7879;n <a href="https://vn.beincrypto.com/ethereum-dominance-surge/" target="_blank" rel="noreferrer noopener">s&#7913;c m&#7841;nh d&#7851;n &#273;&#7847;u c&#7911;a Ethereum trong l&#297;nh v&#7921;c DeFi</a>. Ethereum hi&#7879;n &#273;ang c&oacute; l&#7907;i th&#7871; g&#7845;p kho&#7843;ng m&#432;&#7901;i l&#7847;n so v&#7899;i c&aacute;c m&#7841;ng l&#432;&#7899;i &#273;&#7889;i th&#7911; nh&#432; Solana hay Base.
L&#432;&#7907;ng giao d&#7883;ch cho vay t&#259;ng m&#7841;nh, b&ecirc;n c&#7841;nh vi&#7879;c ch&#7913;ng minh m&#7913;c &#273;&#7897; ch&#7845;p nh&#7853;n r&#7897;ng h&#417;n c&#7911;a DeFi, c&#361;ng &#273;&#7863;t ra nh&#7919;ng c&acirc;u h&#7887;i v&#7873; r&#7911;i ro h&#7879; th&#7889;ng.
N&#259;m 2022, kh&#7889;i l&#432;&#7907;ng kho&#7843;n vay cao &#273;&atilde; d&#7851;n t&#7899;i c&aacute;c &#273;&#7907;t thanh l&yacute; quy m&ocirc; l&#7899;n, khi&#7871;n th&#7883; tr&#432;&#7901;ng c&agrave;ng gi&#7843;m s&acirc;u. &#272;&#7871;n qu&yacute; 3/2025, quy m&ocirc; cho vay crypto &#273;&atilde; l&ecirc;n &#273;&#7871;n 73.6 t&#7927; USD &ndash; t&#259;ng 38.5% so v&#7899;i qu&yacute; tr&#432;&#7899;c v&agrave; g&#7847;n g&#7845;p ba l&#7847;n so v&#7899;i &#273;&#7847;u n&#259;m 2024.
Theo c&aacute;c nh&agrave; ph&acirc;n t&iacute;ch t&#7841;i Kobeissi, di&#7877;n bi&#7871;n n&agrave;y ch&#7911; y&#7871;u &#273;&#432;&#7907;c th&uacute;c &#273;&#7849;y b&#7903;i c&aacute;c giao th&#7913;c DeFi h&#432;&#7903;ng l&#7907;i t&#7915; vi&#7879;c c&aacute;c qu&#7929; ETF Bitcoin &#273;&#432;&#7907;c ph&ecirc; duy&#7879;t c&ugrave;ng l&agrave;n s&oacute;ng h&#7891;i ph&#7909;c chung c&#7911;a to&agrave;n th&#7883; tr&#432;&#7901;ng.
M&#7913;c &#273;&ograve;n b&#7849;y trong DeFi v&#7851;n th&#7845;p h&#417;n r&#7845;t nhi&#7873;u so v&#7899;i c&aacute;c ng&agrave;nh truy&#7873;n th&#7889;ng &ndash; ch&#7881; chi&#7871;m kho&#7843;ng 2.1% tr&ecirc;n t&#7893;ng gi&aacute; tr&#7883; th&#7883; tr&#432;&#7901;ng t&agrave;i s&#7843;n s&#7889; 3.5 ngh&igrave;n t&#7927; USD, trong khi con s&#7889; n&agrave;y &#7903; b&#7845;t &#273;&#7897;ng s&#7843;n l&agrave; 17%. Tuy nhi&ecirc;n, s&#7921; t&#7853;p trung giao d&#7883;ch &#7903; c&aacute;c n&#7873;n t&#7843;ng cho vay t&#7921; &#273;&#7897;ng nh&#432; Aave l&#7841;i l&agrave;m t&#259;ng kh&#7843; n&#259;ng x&#7843;y ra c&aacute;c &#273;&#7907;t thanh l&yacute; t&#7921; &#273;&#7897;ng quy m&ocirc; l&#7899;n.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-weekend-crash-highlights-aave-s-role-as-defi-s-stabilizer-amid-2-2-billion-liquidations">S&#7921; s&#7909;p &#273;&#7893; cu&#7889;i tu&#7847;n cho th&#7845;y vai tr&ograve; c&#7911;a Aave nh&#432; &ldquo;b&#7897; &#7893;n &#273;&#7883;nh&rdquo; DeFi gi&#7919;a l&agrave;n s&oacute;ng thanh l&yacute; tr&#7883; gi&aacute; 2,2 t&#7927; USD</h2>

S&#7921; ki&#7879;n s&#7909;t gi&#7843;m m&#7841;nh v&agrave;o cu&#7889;i tu&#7847;n cu&#7889;i th&aacute;ng 01/2026 &#273;&atilde; th&#7917; nghi&#7879;m s&#7913;c ch&#7883;u &#273;&#7921;ng c&#7911;a h&#7879; th&#7889;ng n&agrave;y d&#432;&#7899;i &aacute;p l&#7921;c c&#7921;c l&#7899;n. <a href="https://vn.beincrypto.com/markets-crashed-overnight-gold-recovered-bitcoin-didnt/" target="_blank" rel="noreferrer noopener">Bitcoin &#273;&atilde; lao d&#7889;c m&#7841;nh t&#7915; kho&#7843;ng 84,000 USD xu&#7889;ng d&#432;&#7899;i 76,000 USD</a> do:
<ul class="bic-gutenberg-list wp-list list-disc ">
<li>Thanh kho&#7843;n m&#7887;ng v&agrave;o cu&#7889;i tu&#7847;n</li>

<li>C&#259;ng th&#7859;ng &#273;&#7883;a ch&iacute;nh tr&#7883; t&#7841;i Trung &#272;&ocirc;ng</li>

<li>&Aacute;p l&#7921;c t&#7915; nh&#7919;ng b&#7845;t &#7893;n v&#7873; ng&acirc;n s&aacute;ch ch&iacute;nh ph&#7911; M&#7929;.</li>
</ul>

Ch&#7881; trong v&ograve;ng 24 gi&#7901; &#273;&atilde; c&oacute; h&#417;n 2.2 t&#7927; USD c&aacute;c v&#7883; th&#7871; d&ugrave;ng &#273;&ograve;n b&#7849;y b&#7883; thanh l&yacute; tr&ecirc;n c&#7843; s&agrave;n t&#7853;p trung v&agrave; phi t&#7853;p trung.
H&#7841; t&#7847;ng c&#7911;a Aave &#273;&oacute;ng vai tr&ograve; then ch&#7889;t trong vi&#7879;c gi&#7919; &#7893;n &#273;&#7883;nh th&#7883; tr&#432;&#7901;ng. Giao th&#7913;c n&agrave;y &#273;&atilde; x&#7917; l&yacute; h&#417;n 140 tri&#7879;u USD gi&aacute; tr&#7883; t&agrave;i s&#7843;n b&#7883; thanh l&yacute; t&#7921; &#273;&#7897;ng tr&ecirc;n nhi&#7873;u m&#7841;ng l&#432;&#7899;i trong ng&agrave;y 31/01/2026.
D&ugrave; ph&iacute; gas tr&ecirc;n Ethereum c&oacute; l&uacute;c t&#259;ng v&#7885;t v&#432;&#7907;t 400 gwei &ndash; khi&#7871;n xu&#7845;t hi&#7879;n nhi&#7873;u &ldquo;v&#7883; th&#7871; ma&rdquo; khi c&aacute;c kho&#7843;n vay thi&#7871;u t&agrave;i s&#7843;n &#273;&#7843;m b&#7843;o &#273;&#7913;ng s&aacute;t ng&#432;&#7905;ng thanh l&yacute; nh&#432;ng ch&#432;a th&#7875; b&#7883; x&#7917; l&yacute; ngay do kh&ocirc;ng sinh l&#7907;i, Aave v&#7851;n v&#7853;n h&agrave;nh tr&#417;n tru, kh&ocirc;ng x&#7843;y ra downtime hay ph&aacute;t sinh n&#7907; x&#7845;u.
Hi&#7879;u su&#7845;t c&#7911;a Aave &#273;&atilde; ng&#259;n ng&#7915;a k&#7883;ch b&#7843;n t&#7879; h&#417;n c&oacute; th&#7875; lan r&#7897;ng. N&#7871;u giao th&#7913;c n&agrave;y g&#7863;p s&#7921; c&#7889;, c&aacute;c kho&#7843;n vay thi&#7871;u t&agrave;i s&#7843;n &#273;&#7843;m b&#7843;o s&#7869; t&iacute;ch t&#7909; th&agrave;nh n&#7907; x&#7845;u, k&eacute;o theo hi&#7879;u &#7913;ng domino thanh l&yacute; v&agrave; kh&#7843; n&#259;ng ho&#7843;ng lo&#7841;n tr&ecirc;n to&agrave;n h&#7879; sinh th&aacute;i.
M&#7897;t s&#7889; giao th&#7913;c kh&aacute;c nh&#432; Compound, Morpho, v&agrave; Spark c&#361;ng x&#7917; l&yacute; m&#7897;t l&#432;&#7907;ng nh&#7887; c&aacute;c kho&#7843;n b&#7883; thanh l&yacute;, tuy nhi&ecirc;n, quy m&ocirc; v&agrave; m&#7913;c &#273;&#7897; t&#7921; &#273;&#7897;ng h&oacute;a c&#7911;a h&#7885; v&#7851;n ch&#432;a th&#7875; thay th&#7871; ho&agrave;n to&agrave;n vai tr&ograve; c&#7911;a Aave.
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/zQmETktGdlSLeUee4oYpKoYNeOk=/smart/8cb776c13cfe4d51a5ec01f769a5644e" alt="X&#7871;p h&#7841;ng c&aacute;c giao th&#7913;c cho vay" class="wp-image-799333">X&#7871;p h&#7841;ng c&aacute;c giao th&#7913;c cho vay. Ngu&#7891;n: <a href="https://defillama.com/protocols/lending" target="_blank" rel="noreferrer noopener nofollow">DefiLlama</a>

Ngay c&#7843; nh&#7919;ng c&aacute; voi ETH l&#7899;n, nh&#432; <a href="https://vn.beincrypto.com/not-tom-lees-bitmine-trend-research-eth-liquidation/" target="_blank" rel="noreferrer noopener">Trend Research</a>, c&#361;ng ph&#7843;i gi&#7843;m &#273;&ograve;n b&#7849;y b&#7857;ng c&aacute;ch b&aacute;n ra h&agrave;ng tr&#259;m tri&#7879;u USD ETH &#273;&#7875; <a href="https://vn.beincrypto.com/ethereum-whales-dump-to-repay-aave-debt/" target="_blank" rel="noreferrer noopener">tr&#7843; n&#7907; kho&#7843;n vay tr&ecirc;n Aave</a>. H&#7885; c&#361;ng d&#7921;a v&agrave;o kh&#7843; n&#259;ng x&#7917; l&yacute; hi&#7879;u qu&#7843; c&#7911;a giao th&#7913;c n&agrave;y &#273;&#7875; h&#7841;n ch&#7871; r&#7911;i ro lan r&#7897;ng cho to&agrave;n th&#7883; tr&#432;&#7901;ng.
&#272;&#7907;t crash cu&#7889;i tu&#7847;n v&#7915;a qua &#273;&atilde; ch&#7881; r&otilde; c&#7843; c&#417; h&#7897;i l&#7851;n r&#7911;i ro ti&#7873;m &#7849;n trong h&#7879; sinh th&aacute;i cho vay c&#7911;a Ethereum.
M&#7863;c d&ugrave; kho&#7843;n vay v&agrave; &#273;&ograve;n b&#7849;y v&#7851;n &#273;ang t&#259;ng, nh&#432;ng s&#7921; ki&ecirc;n c&#432;&#7901;ng c&#7911;a Aave cho th&#7845;y h&#7841; t&#7847;ng DeFi &#273;ang ng&agrave;y c&agrave;ng ho&agrave;n thi&#7879;n, tr&#432;&#7903;ng th&agrave;nh h&#417;n.
Kh&#7843; n&#259;ng &ldquo;h&#7845;p th&#7909;&rdquo; l&#7847;n thanh l&yacute; l&#7899;n m&agrave; kh&ocirc;ng g&acirc;y ra s&#7921; c&#7889; h&#7879; th&#7889;ng c&#7911;ng c&#7889; v&#7883; th&#7871; c&#7911;a m&#7843;ng cho vay tr&ecirc;n Ethereum nh&#432; m&#7897;t l&#7921;c l&#432;&#7907;ng &#7893;n &#273;&#7883;nh trong th&#7883; tr&#432;&#7901;ng bi&#7871;n &#273;&#7897;ng. &#272;i&#7873;u n&agrave;y c&#361;ng gi&uacute;p t&#259;ng ni&#7873;m tin c&#7911;a c&#7843; c&aacute;c t&#7893; ch&#7913;c l&#7851;n nh&agrave; &#273;&#7847;u t&#432; nh&#7887; l&#7867; v&agrave;o l&#7921;a ch&#7885;n &ldquo;tr&uacute; &#7849;n an to&agrave;n&rdquo; n&agrave;y.
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/nQomDFOg6ghfCiC9kQHFGMii6MU=/smart/e90c441188e34d18934ee4a71995cfbe" alt="Hi&#7879;u su&#7845;t gi&aacute; AAVE" class="wp-image-799334">Hi&#7879;u su&#7845;t gi&aacute; AAVE. Ngu&#7891;n: <a href="https://beincrypto.com/price/aave/" target="_blank" rel="noreferrer noopener">BeInCrypto</a>

D&ugrave; tri&#7875;n v&#7885;ng t&iacute;ch c&#7921;c, gi&aacute; token AAVE l&#7841;i &#273;ang gi&#7843;m h&#417;n 6% trong 24 gi&#7901; qua, v&agrave; t&#7841;i th&#7901;i &#273;i&#7875;m vi&#7871;t b&agrave;i ch&#7881; c&ograve;n 119.42 USD.