The governance token of the decentralized finance lender Aave stood out as one of the strongest performers over the weekend as cryptoassets rebounded from Friday’s lows.
The advanced token surged over 10% on Monday to briefly top $230, trailing only oracle network Chainlink’s initial token among the CoinDesk 20 Index members.
AAVE compared gains amid short-term profit-taking emerged later in the Monday session, consolidating above $225, CoinDesk Research’s analysis model noted.
Price action aside, Aave is gaining momentum in the rapidly growing tokenized asset lending market. Grove, an onchain capital allocator closely related to Sky (SKY), made plans to deliver and Circle’s stablecoins for Horizon, Aave’s new institutional lending marketplace where qualified borrowers pledge real-world tokenized assets as collateral for loans.
The integration, pending management approval, could deepen liquidity for institutions that borrow against assets such as US Treasury tokens. Horizon already supports collateral from issuers such as Superstate and Centrifuge with Chainlink provides valuation data and third-party risk assessments from Llama Risk and Chaos Labs.
If approved, Grove’s contribution could help turn tokenized assets into real working capital.
Technical indicators:
- Bullish momentum holds despite pullback from highs as token maintains uptrend above key support.
- Multiple failed attempts above $231.00 highlight persistent overhead resistance.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
