Aave, a decentralized finance protocol, continues to show steady growth leading to significant changes in its prices and usage.
Price and Price Changes of Aave
As of now, Aave ([AAVE](https://crypto.news/price/aave/)) is priced at $329, up 6% over the past 24 hours and 18% over the past month. Despite this positive trend, the token is still trading about 50% below its all-time high of $661 set in 2021. Price recovery is supported by rising activity across the protocol.
Increased Interest and Ecosystem Updates
According to data from DefiLlama, Aave's total value locked has now surpassed $30 billion for the first time, increasing nearly 57% since the beginning of the year. Consequently, revenues have also risen, with monthly fees increasing from $30 million in April to $48 million in June. Aave founder Stani Kulechov introduced the upcoming Aave V4 upgrade at the Ethereum Community Conference, which includes cross-chain lending support and deeper integration with GHO, Aave's native stablecoin.
Technical Analysis and Prospects for AAVE
Technical analysis indicates that AAVE is holding above key moving averages. The 10-day EMA is at $308, while the 20-day EMA is at $294. The asset is currently near the upper end of its Bollinger Band, around $331. The relative strength index is at 68.7, suggesting it is approaching overbought conditions, but the bullish MACD remains intact. A clean break above $330 may open the way toward $350.
In summary, Aave is displaying promising indicators supported by rising total value locked and an upcoming upgrade, indicating positive prospects for the token.
