Aave (AAVE) experienced a significant increase in price and market cap after announcing plans to revamp its tokenomics. The altcoin saw a surge of nearly 27%, reaching an intraday high of $220 on March 5. Aave's daily trading volume doubled, and open interest in its futures market increased by 48%. The gains came after the Aave Chan Initiative founder requested community support for a proposal to restructure revenue allocation and improve liquidity management. Integration with Sonic, a high-speed EVM blockchain, also contributed to AAVE's gains. Whales and Smart Money investors have shown interest in AAVE, with large purchases of tokens. Technical indicators suggest that AAVE could see further gains in the short term, but it must break out of a falling wedge pattern to confirm a strong uptrend.



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