Aave’s price kept stable above the 50-day advancing average as his role in decentralized financing grew, whales collected and the exchange reserves fell.
A price (Aave) was traded on Sunday 6 July at $ 272. That is an increase of 140% compared to the lowest level in April. This rebound has its market capitalization at $ 4.1 billion and brought its daily volume to more than $ 250 million.
On-chain statistics that have been compiled by Nansen indicate that whales have continued to buy Aave in recent days. Whales have increased their participations by 3.4% in the last 30 days to 198,535, a sign that they expect the trend to rise.
More data from Santiment show that Aave’s offer on exchanges was in a free fall this month. It has fallen to 2.9 million, the lowest level since February 2021. It has been crashing since a peak of 4.53 million in November 2023.
The falling Aave-Saldi on exchanges is a sign that investors continue to move their tokens to self-coasts. It also indicates that these investors expect the price to be robust over time.
The most important bullish factor for Aave is that it is the largest player in the decentralized financial industry. Defi Lama facts Show that the total value has been locked by 7.8% in the last 30 days has risen to $ 26 billion.
This growth has made one of the most profitable players in the Defi space. It has generated cumulatively income of more than $ 233 million and $ 3.3 million in the last 24 hours.
Aave Price Technical Analysis
The Daily Time Frame graph shows that the Aave price in April $ 114.65 Soilt and then started a Bull Run and pushed it to $ 323 in May.
Aave then retired to a low -213 low point in June and has now been reflected to $ 273. The coin has remained above the exponential advancing averages of 50 days and 100 days, a sign that bulls are in control.
It has also formed a reverse head and shoulders pattern, a popular bullish reversing board.
That is why token is likely to experience a bullish breakout, where the initial target is $ 323, reached the highest level in May. A movement above that level will signal further profits, which means that the psychological point may be reached at $ 400, the highest level in 2024.
The Aave Munt was made by Stani Kulechov, a Finnish entrepreneur who originally founded the project as Ethlend in 2017. In 2020, Ethlend-a decentralized peer-to-peer lending platform on Ethereum was challenged as aave (which means “ghost” in the Finnish).
The Aave -token was introduced as part of the transition from the protocol to a more robust decentralized finance (Defi) platform for borrowing and borrowing crypto activa.
Kulechov is also recognized for his contributions to decentralized social networks, including Lens Protocol.
