- AAVE price jumps as exchange supply drops to a 3-year low, hinting at strong holding sentiment.
- Protocol fundamentals shine with record $26.42B TVL and consistent revenue.
- Bullish technicals signal $400 as the next potential price target.
AAVE, the governance token of Aave, is witnessing a great rally, overpowering previous resistances to set a fresh all-time high at $281–a level that has remained unattained since early February. Investors are jumping the bandwagon, spurred by renewed confidence and intoxicating bullish sentiment wafting in.
AAVE Price Hits New Highs: Rally Extends Beyond $280
The token started ticketed at a humble $114.15 on April 7, and it has been on a tear since then. A massive movement of this token, clocking over 145% in less than two months, paints a clear picture: this is not serendipity. Potent on-chain fundamentals are at work in the ascent, reinforced by the technical indicators loudly calling to “buy.”
The great AAVE exchange exodus is attracting interest with wallets-all the wallets-steadily becoming the most favored safe haven for AAVE tokens. Santiment data paint a starkly competing picture: a plummeting 4.53 million AAVE from centralized exchanges in November 2023 to just under 3.17 million as of today. This disappearance acts as the lowest exchange supply ever witnessed since February 2021, muttering a bullish story accentuating steadfast holders and staking enthusiasts who have locked their AAVE tokens for longer periods against everyday trade.
Rather than selling it. Lower exchange supply normally suggests diminishing sell pressure and increasing investor confidence.
Total Value Locked Surges Over 30% in One Month
And thus, the temple of Aaveism in DeFi is blooming! TVL has skyrocketed to an all-time high of $26.42 billion. Thirty percent rise in a month’s time! That influx is not just about dollars; it is a great shout from the users to testify their excitement and confidence in the innovative financial tracking method deployed by Aave.
AAVE’s fee flown kept steady at a massive $33.8 million-Debfi class revenues. With early projections for this month coming in at a little more than $33.3 million from last month, this platform maintains steady revenue. This constancy makes the platform remain one of the highest-earning in all decentralized finance.
The staking surge continues! Crypto staking has seen its market cap nearly doubling since last month, going from a minute $454 million to an enormous $800 million. Ethereum is leading the race. Even the dismal low end of staking estimates Pypran com AAVE staking of 84,000 ETH has now been shattered, with asthma over 300,000 ETH being staked. The sheer momentum behind this climb also evidences the emerging trend of investors valuing long-term holding strategies.
Even AAVE’s in-house stablecoin, GHO, reached an all-time high of $265 million market cap, further validating the protocol’s growing ecosystem.
Next Target: $400
The AAVE price chart flashed an omen golden signal! The 50-day EMA traversed up across the 200-day EMA, forming that classical “golden cross” on the daily chart-…Strong indication that bulls are now in control.
With the ADX rising to 42, it is screaming strength and setting off trends with really heavy muscle. Do not go for baby steps anymore; once the 38.2% Fibonacci mark is surpassed, the momentum surges hard. Attention goes to $400-the next prize with a potential gain of 45%. Buckle up.
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