- Aave’s On-Chain Activity Spikes
- Breaking Accumulation Zone and Potential Targets
- Introduction of “Skyward” Service and Its Impact
Recently, there has been a significant surge in Aave's on-chain activity, putting its token AAVE in the spotlight. The launch of the new service “Skyward” also garners interest among DAO members.
Aave’s On-Chain Activity Spikes
According to IntoTheBlock, Aave’s on-chain activity has increased twofold compared to three months ago. This substantial rise in active addresses has pushed the AAVE token into the top gainers list.
Breaking Accumulation Zone and Potential Targets
AAVE has risen by 16.84% over the last 24 hours, reaching $128.63, representing a 34.68% growth over the previous seven days. The daily transaction volume skyrocketed by 118.90% in the last 24 hours, reaching $322.39 million. AAVE breaking through an 805-day accumulation zone indicates a potential major rally targeting the $200 mark.
Introduction of “Skyward” Service and Its Impact
Earlier, CNF reported the launch of Aave’s new service named “Skyward,” developed by the Aave-Chan Initiative (ACI). Skyward helps Aave DAO members navigate the proposal process more efficiently, leading to increased participation in governance. AAVE Labs founder Marc Zeller proposed new initiatives aimed at improving the protocol ecosystem, including the implementation of a “fee switch” and a token buyback from the open market.
With increasing activity and the launch of new services like “Skyward,” Aave strengthens its position in the decentralized finance market. New initiatives may significantly enhance the value and utility of the AAVE token.
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