Aave Crypto price continued his free fall this week and reached the lowest level since 28 June. Toking has entered into a local bear market after 23% fell compared to its peak of $ 337.
Summary
- A crypto has moved to a local bear market after having fallen 23% compared to the High of July.
- The total value locked in the ecosystem rose to a record high this week.
- Data shows that the costs and income in the network increase.
Aave Crypto price crashed despite a flowering ecosystem
Aave (Aave), the largest player in the decentralized financial industry, shoots all the cylinders while his assets and reimbursements jump.
Defi Lama -Data to show That the total value that was locked in the ecosystem this week to a record high was $ 35 billion. This is a strong increase in a platform that started the year with $ 21 billion in assets.
One of the most important catalysts for the Golf has risen Ethena (ENA), whose assets have recently risen to nearly $ 5 billion. Dune analysis facts Show that they have risen by more than $ 1 billion in the past two days.
This growth has led to a major increase in its costs. Data shows that Aave has collected more than $ 783 million in reimbursements in the last 12 months. The annual income has risen to $ 47 million, while sales rose to more than $ 110 million.
Data of Token -terminal Show that Aave’s net deposits in July increased by 21%, with active loans by 25% to $ 20.5 billion. Monthly costs and turnover grew by 49% and 85% respectively.
This growth comes as the Defi credit space becomes more and more competitive, with platforms such as Morpho, Compound Finance and Maple Finance Wining Ground.
Aave Price Technical Analysis
The daily graph shows that Aave had a steep decrease in July after a peak at $ 337.25. The drop coincided with a broader sale on crypto markets.
Aave has cases fallen among both the 50-day and 100-day exponential advanced averages and is approaching the psychological support level of $ 250. The relative strength index is also approaching over sold-out territory.
The token is now on a rising trend line that has connected the lowest winding points since 7 April. A potential rebound can steer it resistance on the Murrey Math Lines level of $ 312. A break under the trendline would make this bullish scenario invalid.
