CandleFocus 4 reasons behind Aave’s rally to 40-month highs
2024-12-12
Author: Content Editor
Aave, the native token of the lending protocol, has experienced significant gains and emerged as the top gainer among the top 100 cryptocurrencies. It surged 34% in the past 24 hours, reaching $355 and breaking the $350 mark for the first time since late August. The broader crypto market, including Bitcoin, has been on a bullish trend following the U.S. Consumer Price Index report. Aave's DeFi total value locked is at $22 billion, and it is set to launch on the zk-rollup network Linea, which will allow for scalability and lower fees. Additionally, President-elect Donald Trump's DeFi project, World Liberty Financial, acquired $1 million worth of Aave tokens. Aave's whale accumulation also strengthened, potentially driving up prices.
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