- The value of AAVE reached a excessive of $173 on Monday, its highest degree since April 2022.
- The TVL has additionally improved because of the bullish sentiment throughout decentralized finance protocols.
DeFi protocol Aave (AAVE) has seen the worth of its native token hit highs final seen in April 2022.
The rise above $173 marks Aave’s highest value degree because the token final traded at round $176 on April 28, 2022.
For AAVE, it was a pointy decline after bulls reached an all-time excessive above $670 in Could 2021, which was adopted by a large accumulation interval that lasted for about two and a half years.
Aave now seems to be breaking above the horizontal line that has saved patrons in examine for a very long time.
a part of this recovery This comes because the broader crypto market is anticipated to rally, led by Bitcoin leaping above $60k and the rally features a retest of bear decision above $64,800. Based on CoinGecko knowledge, AAVE/USD has surged greater than 172% over the previous 12 months, together with a greater than 23% surge previously week.
These beneficial properties come as the entire locked worth of AAVE has reached $5.7 billion because the drop in January 2023. In a 12 months the place the decentralized finance market has benefited from an general enchancment amid extra lending and borrowing, Defilama Show Aave’s TVL has reached $22.1 billion.
Nearly all of the worth is on Aave V3, which has seen a number of vital integrations throughout the market. The entire TVL for the community was round $20.5 billion.
