- Net deposits of Aave have hit $33.4 billion, surpassing 2021 levels.
- The altcoin is currently trading at the $334 mark after gaining over 8%.
Aave, a leading decentralized finance (DeFi) platform, has hit $33.4 billion in net deposits—surpassing previous all-time highs seen during the 2021 bull market. The platform has added certain networks, including BNB Chain, Scroll, ZKsync Era, and Ether.fi. It aims in diversifying the user base and increasing its market leadership.
In particular, these integrations have generated a total of $2.55 billion in revenue, which has helped contribute to the huge growth of the platform. The Total Value Locked (TVL) for Aave has exploded to $35 billion.
With a 2025 goal in mind, the platform is set to grow bigger. Community submissions for new integrations, such as Sonic, Mantle, Linea, BOB, Spider Chain, and Aptos. Such integrations are also anticipated to fuel future adoption and offer more choices to Aave users as well as enhanced features in different blockchain ecosystems.
Along with these extensions, AAVE is also intended to further enhance some of the core features of its platform, such as modularity, capital effectiveness, and liquidity rollout with the release of AAVE V4.
GHO Stablecoin and Aave’s Vision for 2030
Aave’s upcoming launch of GHO, a decentralized, overcollateralized stablecoin, aims to provide more flexibility and stability within the DeFi ecosystem by enabling users to mint the stablecoin using various collateral types.
After a successful debut on Arbitrum in 2024, GHO is expected to expand to other networks such as Base and Avalanche.
Price Momentum of AAVE
AAVE has gained over 8.38%, choosing to trade on the upside. The asset has visited its daily high at $335.18 and low of $307.54. At the time of writing, the asset trades at $334.84 with a market cap of $5 billion. Meanwhile, the daily trading volume has increased by 16.64%, to $538 million.
On the technical side, the MACD line is positioned above the signal line, suggesting a bullish outlook. Moreover, the CMF is likely settled at -0.08, indicating the negative money flow into the asset.
The short-term 9-day MA is found below the long-term 21-day MA. Also, the token is moderately in the bullish zone as the daily relative strength index (RSI) currently stands at 58.43. Specifically, the buying pressure is slightly stronger than the selling pressure.
