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Key Takeaways:
- AAVE is trading above $320 after breaking past key resistance.
- The protocol reached a historic $51 billion in TVL, the first for any dApp.
- With over $19B in active loans and rising revenue, AAVE shows robust fundamentals and upside potential.
AAVE, one of the leading decentralized finance (DeFi) protocols, is making headlines after surging past the $300 mark. Currently trading around $320, the token is riding strong bullish momentum, backed by record-breaking fundamentals and technical signals pointing toward continued upward movement.
AAVE Breaks $300 Resistance with Strong Volume Support
According to the daily chart on TradingView, AAVE recently breached the $300 resistance and climbed to $320, forming bullish candles along the way. The rally is supported by a rise in trading volume, indicating increased investor interest. A stochastic RSI bounce from the oversold zone adds further confidence, suggesting more price appreciation is possible.
If this pattern holds, the next key resistance level to watch is $394, which could be AAVE’s next breakout target.
AAVE Becomes the First DApp to Reach $51 Billion in TVL
In a major milestone, AAVE has become the first decentralized application (dApp) to surpass $51 billion in total value locked (TVL), according to data from CryptoRank.io. This record figure means AAVE currently holds nearly 18% of the entire DeFi market, which is valued at around $284 billion in TVL.
What began as a simple lending platform has evolved into a dominant force in the DeFi ecosystem. In the past year, AAVE has generated $105 million in revenue and over $600 million in user fees, showcasing consistent user demand and sustainable growth.
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Lending Activity and User Engagement Remain High
With $19.3 billion in active loans currently on the platform, demand for AAVE’s lending protocol is surging. This indicates strong participation from both lenders and borrowers. The token’s market capitalization stands at approximately $4.96 billion, highlighting investor confidence in its long-term value proposition.
With price action favoring bulls, record-high TVL, and massive user engagement, AAVE is emerging as one of the strongest DeFi contenders. If current trends continue and on-chain activity increases, reaching the next resistance level at $394 is well within reach.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
