CandleFocus

AAVE flips key resistance as CEX outflows jump

The price of AAVE, a top-performing DeFi asset, experienced a pullback but remains significantly higher than its lowest level in July. On-chain data indicates an increase in outflows from centralized exchanges, suggesting investors are moving their tokens to self-custody for long-term holding. The top ten biggest accounts have bought more AAVE tokens than they have sold, indicating bullish sentiment. AAVE has accumulated over $12.53 billion in assets, with a significant amount borrowed and substantial fee collection. AAVE's future interest has remained elevated, and on the weekly chart, it has been in a strong bullish trend. The price is expected to continue its upward movement with a target of $200.

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