AAVE Token Slides 12% Despite Soneium Blockchain Expansion and v4 Upgrade Announcement

AAVEUSDT is currently trading at $246.08 on Binance, reflecting a 3.00% decline over the past 24 hours from an open of $253.69. The recent price decrease can be attributed to profit-taking following a period of strong performance, including a 3.5% gain on June 20 and a broader rally in the CoinDesk 20 Index. Despite positive developments such as Aave’s expansion to the Sony-backed Soneium blockchain, the announcement of the upcoming Aave v4 protocol upgrade, and a record high in DeFi total value locked, the asset has underperformed the wider crypto market over the past week, with a 12.20% decline. Trading activity remains robust, with 24-hour volume between $353.6 million and $489.9 million, a circulating supply of approximately 15 million AAVE, and a market cap near $3.84 billion, keeping Aave among the leading DeFi protocols by liquidity and engagement.