AAVE Rises to Three-Week High as DeFi Lending Market Swells to $56 Billion
AAVE, the native token of decentralized lending giant Aave, surged to its highest level in three weeks on Tuesday, buoyed by renewed momentum in the decentralized finance (DeFi) sector.
Over Monday and Tuesday, AAVE’s price rebounded sharply, climbing from a low of $277.57 to reach a peak of $291.11—a gain of nearly 5%, based on technical analysis from CoinDesk Research.
Trading volumes stayed steady for much of the period but spiked notably between 12:00 and 12:13 UTC, exceeding 2,000 units. Analysts viewed this burst of activity as confirmation of strong buying interest and a solid rebound from session lows.
Technical indicators now highlight a support range between $277 and $280, which could serve as a springboard for further gains if market sentiment remains positive.
AAVE’s rally comes as the DeFi lending space roars back to life. Data from DefiLlama reveals that total value locked (TVL) in lending protocols has surpassed $56 billion, pushing past highs last seen in 2022.
Aave continues to dominate this sector, commanding $26.4 billion in TVL across 17 blockchains—a figure that exceeds the combined assets of the next thirty competitors, underscoring Aave’s market leadership.
