Aave gains 18% weekly amid ecosystem growth, stablecoin dominance

Aave compounded its weekly gains thanks to rising adoption and the general bullish momentum in the crypto market.

Aave is seeing strong performance amid ecosystem updates and a bullish crypto wave. On Friday, July 11, Aave (AAVE) was up 6%, reaching a daily high of $317.58. This compounded to a growth of 18% over the last week, when Aave was trading at $272.

This development comes amid bullish momentum in the crypto markets, fueled by Bitcoin’s (BTC) all-time high levels. At the same time, Aave reported growing stablecoin adoption, with plans to further support its stablecoin ecosystem.

On July 10, Aave published its monthly funding update for July, which saw steady progress for the project. The team reported consolidating its treasury funds to the Ethereum network, which will support incentives, buybacks, and growth.