Aave today came up with no less than 25%, fed by growing optimism in his ecosystem and a peak in commercial activity.
Aave (Aave) rose to an intraday highlight of $ 269 on May 20 Asian times in the afternoon, so that the highest level was marked since February and it is now one of the best -performing cryptocurrencies on the market. Aave has now risen more than 132%from the LOSPENPENT of April.
The Golf came next to a peak in trade volume. According to data from crypto.news, more than $ 800 million to Aave of owner has changed ownership, the most active day since the beginning of March.
In the meantime, Aave’s Futures Open Resting reached a record high of $ 569 million, which reflects a strong demand from derivatives traders. The positive financing percentage for two consecutive weeks also suggests that the majority of the market is still gambling upside down, with long traders who currently pay short traders.
Traders seemed to welcome progress on the Genius Act, which recently cleared up an important procedural vote in the US Senate. The bill proposes a regulatory framework for Stablecoins, an area that is crucial for Defi protocols such as Aave.
Given the dependence on Aave van Stablecoins such as USDC, DAI and his native GHO, the prospect of regulatory clarity could encourage more institutional participation and strengthen confidence in its ecosystem.
Aave also received a boost from solidifying his lead as the Top Defi protocol by TVL. According to DefillamaThe total value has risen by almost 40% in the past month to reach $ 40.7 billion that Lido exceeds a lot, which has $ 23.3 billion.
This growth translates into real income. Aave has achieved more than $ 250 million in reimbursements to date, so that it has achieved one of the most profitable protocols in space.
Momentum on Technical Front is also matched by an increase in daily active addresses, which have exhibited 57% in the last two days.
At the same time, the weighted social sentiment is also positively reversed, a sign that market participants are becoming bullish on the short -term facility of Aave.
Potential Golden Cross in Development
On the 1-day/USDT graph, the Aroon Up indicator is 100% while Aroon Down is 0%, which means that Bullish Momentum is dominant. The Chaikin Money Flow Index reads 0.26, which drives more capital in the token.
A Golden Cross also sees the daily graph, such as the 50-day and 200-day moving averages of Aave Inch closer to a crossover, often considered a bullish signal.
The token is approaching 61.8% Fibonacci retracement level at $ 271.35. A clean outbreak above this level could pave the road to the 50% retracement level at $ 347.19, about 30% higher than the current levels.
On the other hand, if a pullback takes place, is the most important support near $ 226.45, which could serve as a solid bounce zone before the upward trend is resumed.
At the time of the press, Aave traded around $ 267 per coin.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
