The cryptocurrency AAVE shows significant growth, reaching new heights in both price and borrowing volumes.
AAVE Price Growth and Trading Volume
At press time, AAVE is trading at approximately $300, reflecting a 6.41% increase in the past 24 hours and a 14.16% rise over the past week. The market capitalization is around $4.54 billion based on a circulating supply of 15 million tokens. Trading volume has also picked up, with $494.6 million recorded in the last 24 hours. The current daily trading range is between $280.39 and $300.84, indicating sustained interest from traders and investors.
AAVE's Lead in DeFi
According to DefiLlama, AAVE now represents 22% of the total TVL in DeFi and 46% within the lending sector. The current total TVL across all DeFi platforms stands at $26.426 billion. AAVE leads with the largest share, overtaking Lido, which has been declining in dominance within the staking category.
Technical Analysis and Market Trends
Looking at the daily chart, AAVE is currently trading near the upper Bollinger Band, indicating increased volatility and the likelihood of continued trend. The price remains above the midline of $266.38, suggesting bullish pressure is still active. Crypto analyst Jip Molenaar noted that AAVE often forms its first monthly pivot in the first six days. "Around 58% of months in the last 5 years form the first pivot early," he said. This could indicate potential further movements in the market.
AAVE continues to show strong growth, approaching significant levels in both price and borrowing volumes. Traders are closely monitoring developments as AAVE targets reaching $1 trillion in borrowing.
