The AAVE token shows impressive growth, reaching levels not seen since February. With the overall value locked in the network increasing, AAVE is attracting investor attention.
AAVE Price Growth and Network Significance
AAVE has climbed to $312, marking a significant 180% rise from its low on April 7. The price increase is occurring against a backdrop of network growth, where the total value locked has reached $27.5 billion, up from $16 billion in April.
AAVE Financial Metrics
The total borrowed amount in AAVE has risen to $17.5 billion, up from $10 billion on April 13. Additionally, AAVE’s fees increased from $33 million in April to $40 million in May, with cumulative revenue reaching $211.7 million.
AAVE Technical Analysis
AAVE technical analysis shows the token forming a ‘golden cross’, as the 50-day and 200-day exponential moving averages continue to trend upwards. The current target for bulls is last year's peak at $398.85, 28% above the current level. A drop below the support at $282 could invalidate the bullish outlook.
The AAVE token has established new highs amid rising demand and increased value locked in the network. Observed financial metrics and technical analysis confirm continued investor interest.
