AAVE Token Surges 16.77% as Lending Volume Hits $16B and TVL Reaches Record $21.2B

AAVEUSDT has experienced a significant price increase of 16.77% over the past 24 hours, rising from 254.33 to 296.97 on Binance. This surge is primarily attributed to Aave’s record-breaking total lending volume of $16 billion and a new all-time high in total value locked (TVL) at $21.2 billion, reflecting strong user engagement and confidence in the protocol. Recent large transfers of USDT from Aave to HTX, ongoing protocol upgrades aimed at enhancing yields and security, and a broader positive sentiment in the DeFi sector have further contributed to heightened trading activity and bullish momentum. The current market capitalization is approximately $4.4 billion with a circulating supply of around 15 million tokens, and 24-hour trading volume remains robust, underscoring strong investor interest and positioning AAVE among the top-performing DeFi assets in the current market environment.