The Aave token has risen by 135% compared to its low point in April, which has formed a V-shaped recovery and suggests a potential 50% rally in the direction of the 2024 high.
Aave (Aave) Prize rose on Tuesday to $ 270 while Bitcoin (BTC) and other Altcoins jumps. The rally pushed its market capitalization to more than $ 4 billion.
Aave jumped when the total value in his network is locked up $ 25.5 billion. The figure has increased by more than 24% in the last 30 days, which strengthens Aave’s status as the largest protocol in the decentralized financing sector. Active loans on the platform climbed to $ 16.2 billion, an increase in the low of $ 11.2 billion.
The network continues to generate considerable income from the reimbursement in the midst of rising activities. According to Defi Lama, Aave earned more than $ 1.52 million and $ 42 million In the last 30 days. This trend is expected to continue if the demand for decentralized lending is growing.
A prize also jumped as members of the community voted In favor of launching an umbrella. Umbrella is a decentralized solution for risk reduction designed to protect suppliers of liquidity against poor debts. Under this system, users can use their Aave Atokens to earn rewards, with the reservation that their used tokens can be cut if there is no bad debt.
Umbrella will also introduce a shortage of offset mechanism. This function defines a configurable threshold for each active, which indicates how much of each shortage will be treated by the Aave Dao Treasury before the cutting is applied to atoken strikers. The umbrella mechanism is planned to activate Thursday.
Aave Price Technical Analysis
The daily graph shows that Aave has risen from a $ 114.30 low in April to a recently high high of $ 265. The price action has formed a Golden Cross pattern, with the 50-day advancing average above the 200-day advancing average, a technical indicator that is often associed with persistent bullish.
Aave has also completed a V-shaped recovery of the textbook, usually seen as a bullish continuation signal. In addition, important oscillators such as the relative strength index and the stochastic both trending are higher, which enhances the bullish prospects.
That is why the Bullish Momentum will probably continue in the coming weeks, with the next level to look at $ 400, an increase of 50% compared to the current level.
