AAVE Token Surges to New Heights, Reflecting Network Growth
AAVE token has been on a remarkable upward journey. It recently hit $312, marking its highest value since February 1.
Several factors are driving this surge. the total value locked in the AAVE network has spiked to $27.5 billion, up from $16 billion in April. This indicates growing user trust and adoption. The borrowed amount has also risen to $17.5 billion, up from $10 billion in mid-April. This suggests the protocol is becoming more popular.
AAVES revenue has also seen a boost. In May, it generated $40 million in fees, up from $33 million in April. Cumulative revenue now stands at $211.7 million, surpassing a key milestone. The amount of staked AAVE tokens has climbed to $912 million, the highest as February.Futures open interest, a measure of investor interest, reached a record $745 million. The token’s supply on exchanges has dropped, while the total supply in profit has jumped to 1.25 million, its highest since January. The token’s price rise coincides wiht these developments. The daily chart shows a golden cross pattern, with key indicators pointing to continued growth. If the price stays above $282, it could reach last year’s peak of $398.85. For more details, check the AAVE price chart.
- AAVE price rose 180% from its April low.
- Staked AAVE tokens hit $912 million, up from $350 million this month.
- Technical analysis shows a bullish trend,with the token likely aiming for $398.85.
These trends signal a strong bullish outlook for AAVE. Investors are optimistic about its future.
