Amid market volatility, AAVE exhibits a significant surge in trading volume and introduces a buyback strategy.
AAVE Trading Volume Increase
During times of market instability, AAVE's trading volume surged by over 65%, reaching nearly $595 million. This allowed AAVE's price to reclaim $200, potentially reducing bearish influence.
Buyback Proposal by AAVE DAO
AAVE DAO has proposed a major governance initiative aimed at strengthening the revenue model with the intention to redistribute excess revenue and improve liquidity management. According to the proposal, AAVE DAO plans to purchase $1 million worth of AAVE weekly, enhancing the protocol's financial and liquidity position.
AAVE Target Price of $300
Previously, AAVE's price fell below a critical support zone due to bearish pressure, dropping to $180. However, the new buyback plan announcement has triggered significant buying interest, and the price might rise towards the $300 target.
Despite current challenges, AAVE seems poised to reach new yearly highs with its buyback plan and strengthened financial framework.
