CandleFocus

Aave Price Reaches 3-Year High Following On-chain Metrics Growth

Author: Content Editor
The major cryptocurrencies, Bitcoin and Ether, have been trading in the red for the past week while several altcoins have experienced significant price surges. However, the total trading volume in decentralized finance (DeFi) has reached $10.54 billion, reminiscent of the levels seen in 2021. Aave, a top DeFi protocol, has regained its position and its token price has been continuously rising since November. The AAVE token is currently trading at $333 with a 10% daily price increase, a market cap of over $5 billion (up 9% in the last 24 hours), and a trading volume of over $954.3 million (up 28% in the last 24 hours). The token recently reached a 3-year high of around $395. The surge in Aave's price can be attributed to factors such as macroeconomic conditions, Aave's on-chain metrics, and the buzz around its upcoming V4 launch. Furthermore, President-elect Trump's favorable stance on cryptocurrency and investments made by the Trump family's crypto project have also contributed to the market surge. Whales and community members are anticipating further price increases in the new year.

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