How does BTC funding affect rates?

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    introduction

    Introduction:

    Aave is a decentralized finance (DeFi) protocol that lets people lend and borrow cryptocurrencies and real-world assets (RWAs) without having to go through a centralized intermediary. When they lend, they earn interest; when they borrow, they pay interest.

    Aave was originally built atop the Ethereum network, with all the tokens on the network also using the Ethereum blockchain

    to process transactions; they are known as ERC20 tokens. Aave has since expanded to other chains, including Avalanche, Fantom, and Harmony.

    method: i uesd flipside_prod_db.aave.market_stats and flipside_prod_db.aave.market_stats fro this bounty.

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    • Since May 21, 2021, all average lendings have generally decreased.
    • The most average lendings belongs to USDC and USDT.
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    • The most average supply rates belongs to USDC and USDT.

    • Since January 17, 2022, the general trend of average supply rates has been decreasing.

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    The total amount of bitcoins supplied is 394 million bitcoins.

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    As you can see, there is a positive correlation between usdc and wbtc with a high percentage.