Aave demonstrates resilience near the price level of $265, coinciding with a significant milestone of exceeding $60 billion in net deposits.
Aave Shows Signs of Stability
Currently, Aave is trading at $265, up 3% over the last day, although it has seen a 6% decline over the past 30 days. This price movement aligns with an important achievement for the platform, which has become the first DeFi project to reach net deposits exceeding $60 billion. As stated in Aave's post on X on August 6, '$60B net deposits. DeFi will win.'
Surge in Net Deposits and Market Activity
Net deposits are defined as the difference between total supplied assets and borrowed assets on Aave. A positive figure indicates that more money is being lent than taken out, reflecting capital inflows and user confidence. DeFiLlama data indicates that Aave’s total value locked (TVL) increased by over 45%, from $24 billion in early July to $34.9 billion. The rise in network fees from $48 million in June to $65 million in July signals growing interest in the platform.
Technical Analysis and Future Prospects
Aave's technical indicators suggest a neutral state with some upside potential above $280. The MACD is in bearish territory at -9.31, while the relative strength index (RSI) remains neutral at 43.3. Should Aave break above $280, it will create space for the next resistance level between $310 and $315. Conversely, if support at $250–$255 fails, AAVE may retest June lows around $230.
Aave shows signs of stability accompanied by a surge in net deposits, yet remains under market pressure. The current scenario could set the stage for further growth or correction.
