The Aave currency rose {{$AAVE
}} and it is the native currency of the decentralized finance (DeFi) lending platform, on Tuesday reached its highest price in three weeks, surpassing $290, amid a recovery in the decentralized finance lending sector.
The currency $AAVE experienced significant volatility on Monday and Tuesday, bouncing from its lowest point of $277.57 to $291.11, up about 5%, according to technical analysis data from CoinDesk Research.
The model indicated that trading volume patterns remained strong throughout the period, with notable spikes during the breakout from 12:00 to 12:13, exceeding 2000 units, confirming genuine buying interest and affirming a sustainable recovery from the previous session's lows.
The model indicated that the recovery pattern suggests significant buying interest at lower levels ranging between $277.00 and $280.00, creating potential support areas for future price movement.
This move came at a time when the decentralized finance (DeFi) lending sector is witnessing a notable recovery. The total value locked (TVL) in this sector has risen to new record levels exceeding $56 billion, surpassing the peak levels of 2022, according to DefiLlama data.
Aave plays a pivotal role in this growing trend: the protocol controls $26.4 billion in value locked across seventeen blockchains, according to DefiLlama data. One market observer noted that this means Aave has more assets on the platform than the thirty competing lending protocols combined. $AAVE #BTCWhaleMovement #OneBigBeautifulBill #NFPWatch #MuskAmericaParty #TruthSocialCryptoBlueChipETF