Aave bounced back from his recent drop after Aave had announced plans to renew his tokenomics, causing fresh interest among whale investors.
According to data from crypto.news, Aave (Aave) rose nearly 27%and an intraday reached $ 220 on March 5, reducing market capitalization to around $ 3.3 billion from the last check in the Asian afternoon session.
Aave’s daily trade volume doubled to more than $ 850 million, while Open Belang in its Futures market increased by 48% to more than $ 257 million, indicating a major leap in investor activity and demand among the derivative traders.
Despite Aave’s recent meeting, the Altcoin is still 75% below the highest point this year, while the circulating stock is just over 15 million Aave tokens.
Most of today’s profit came after Marc Zeller, founder of the Aave Chan initiative, formally asked community support to restructure a proposal to restructure Aave’s income allocation, to terminate the SMART contract and improve the liquidity management for users.
“The proposal reforms the turnover distribution, updates the Tokenomics and outlines an economic framework for the future of Aave,” Aave wrote in an X -post.
Another important engine of Aave’s profit is the recent integration with Sonic, a fast EVM blockchain that is previously known as Fantom. The movement pushed the total value of Sonic to $ 33 million within a day.
With this integration, Sonic joined Aave’s credit and loan network alongside Ethereum, Optimism, Arbitrum and Polygon, among other things, the expansion of Aave’s ecosystem, which has expressed a new interest among investors.
In the meantime, whales and smart money investors have drawn their attention to Aave.
According to LookonchainA whale recently bought 20,000 Aave -Tokens worth around $ 4.25 million. Another whale spent 1,928.86 on purchase $ 3.95 million in Aave, currently on a floating win of $ 406k.
In addition, alfanomics on the chains. observed Strong Aave accumulation in the past two days, with $ 1.5 million collected by top holders and a $ 600k net inflow of smart money wallets.
For each santiment data, the social sentiment around Aave has become strongly positive, with the Altcoin trending on Google.
Aave Price Analysis
Technical indicators seem to indicate that Aave could see more profit in the short term.
On the Aave/USDT price diagram of 4 hours, both the MACD and the signal lines have shown up, which suggests that an Aave sees a strong purchasing pressure that could probably support his bullish trend.
Furthermore, the relative strength index at 62 suggests that the bullish trend becomes stronger and can probably lead to more profit in the coming days.
Analysts remark That for Aave to confirm a strong upward trend, the first to break out of the falling wig pattern that it has been forming since January 21, with $ 230 as the immediate resistance level.
Such a breakout could possibly push Aave’s prize near $ 350, a level where it was confronted with resistance at the end of January and that also serves as an important psychological barrier.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
