Aave (AAVE) has recently shown impressive momentum, climbing to around $172 and establishing a new support level. This upward trend is fueled by increasing investor interest and significant whale accumulation. Over the past few weeks, AAVE has experienced a price surge of over 12%, driven by strong market demand and a bullish sentiment among traders.
Aave's market capitalization has surpassed $2.5 billion, reflecting a strong recovery from its lower market cap of $882 million just a year ago. On-chain data indicates that whale investors are increasingly accumulating AAVE, with notable transactions hinting at growing institutional interest. Additionally, Aave's Total Value Locked (TVL) has approached levels seen in 2021, further indicating renewed confidence in the platform.
As the DeFi space continues to recover, Aave appears well-positioned for further growth, especially if it can maintain its current momentum and capitalize on the expanding user base.
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