#AAVE Currently trading at $216 with a market capitalization of $3.4 billion, and has increased by more than 28% in the last 24 hours. To reach a market capitalization of $5 billion, Aave needs to rise to $327 per token, and this goal seems increasingly attainable.
The main factor for the growth was the proposal to revise the tokenomics, which requires community approval. Founder of Aave Chan Initiative (ACI) Marc Zeller called it the 'most important proposal' in Aave's history.
The document outlines a weekly buyback $AAVE amounting to $1 million over six months, the implementation of the Umbrella security mechanism to protect users from hopeless debts 'in the billions', as well as a new revenue distribution model.
Despite market fluctuations, Aave's revenues remain consistently high. Aave DAO's cash reserves have increased by 115% after the approval of the Aavenomics update in 2024 and currently total $115 million.
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