Aave gains ground in the decentralized financial space, with its token climbs past $ 260 as adoption and market performance continue to strengthen.
In an X -post published on 20 May, Aave (Aave) said that it now retains 20% of the total value that is locked on decentralized financing. The sector as a whole has seen a sharp recovery, supported by a strong meeting in Ethereum (ETH), which has risen almost 60% in the past month.
Another after From the on-chain analysis platform Sealaunch revealed that Aave’s Defi TVL has doubled from $ 56 billion to $ 115 billion between 24 and 21 May.
The price of the token followed that momentum. Aave trades around $ 260 at the time of the press, which marks a profit of 80% in the last 30 days and an increase of 11% in the past week. Yet it remains about 60% below the record high of $ 661 of May 2021. Although $ 627 million was traded on the last day, that means a 25% decrease compared to the previous day, which indicates some cooling after the most recent peak.
The recent increase in Aave is supported by a number of important events. The most striking thing is that AAV was integrated for the first time with a non-EVM chain when it deployed its V3 protocol on Atos on 19 May. This milestone improves Aave’s lending and broadens its network range.
In addition, there are discussions in progress to include Soneium and Uniswap V4 LP -Tokens as collateral to expand the usefulness of Aave’s Defi Ecosystem. In the field of regulatory front, the progress of the US Senate on the Genius Act is seen as a victory for major Defi companies such as Aave, which can increase institutional acceptance.
Looking at the technical image, Aave is still on a solid upward route. The price acts well above all major advanced averages, with the 200-day EMA that floats around $ 200 and the 10-day EMA and SMA at around $ 237, indicating a widespread bullish momentum.
On 74.6, the relative strength index indicates the situation. Momentum indicators, such as the MACD, are still on the ‘Koop’ territory. Aave drives on the upper tire in the Bollinger tires, which is usually a continuation sign during a strong rally. Recent sessions have seen an increase in the volume, which supports the move.
As long as Aave remains above the 20-day simple advancing average for $ 214, the bullish trend can continue. A break above $ 271, the upper Bollinger band, could open the door for further profit for the $ 300 mark, although overboughteconditions suggest that a short-term deduction is also possible.
