The price of AAVE, the native token of DeFi lending protocol Aave, has increased by 12% in the last 24 hours due to a proposal to incorporate a new Chainlink oracle. Currently trading at $369.10, AAVE is on track to reach its three-year high of $399.85. Chainlink recently introduced Smart Value Recapture (SVR), a service aimed at capturing profits from Maximum Extractable Value (MEV) and redistributing them to DeFi protocols. Following this launch, a community member proposed integrating SVR into Aave's governance forum to address the disproportionate profits made by liquidators and searchers during Aave's liquidation process. This proposal has sparked a surge in AAVE's trading activity, with open interest reaching $376 million, a 32% increase. The Relative Strength Index (RSI) for AAVE is currently at 62.88, indicating an uptrend in buying activity. If buying momentum continues, AAVE could surpass its resistance level and potentially exceed $400 for the first time since 2021. Read more AI-generated news on: https://app.chaingpt.org/news