Aave rose nearly 19% to $ 355 over the last 24 hours, according to Coindesk data, which led the 40 top 40 cryptocurrencies with a percentage of daily gain as investors responded to his recent Aptos extension and Federal Reserve -President Jerome Powell’s Dovish markings.
Which aave is and why it matters
Aave is a decentralized financing protocol that allows users to borrow and borrow cryptocurrencies without intermediaries. Loans are managed by smart contracts where borrowers are required to appreciate their loans after collateral.
The Aave token supports this system. It can stabbed to support security and earn rewards that are used as security to borrow and grants holders management rights. On the other hand, token holders receive voting power and fee benefits, which makes Aave Central Protocol operation.
Aptos extension
On August 21, Aave Labs announced that Aave V3 had gone live on Aptos, its first implementation on a non-evM blockchain. Developers rewrote the code base in the moving language, rebuilt the user interface and adapted the protocol to Apto’s Virtual Machine.
The launch was supported by revisions, a Mainnet Capture-The-Flag Competition and a $ 500,000 Bug-Bounty. The first market supports assets, including APT, SUMDE, USDT and USDC, with supply and loan caps gradually raised. Chaos Labs and Llama Risk conducted risk assessments and chainlink provided price feed.
Aave Labs founder and CEO Stani Kulechov called the launch “an incredible milestone”, which highlights the shift beyond the EVM chains after five years of exclusivity.
Jerome Powells Jackson Hole Talk
Fed -Chairman Jerome Powell’s Speech Friday Morning at Jackson Hole Economic Policy Symposium added momentum. Powell said the balance between risks between inflation and employment had changed, and signaling that interest rates could begin in September.
The markets considered his comments as Dovish, with CME FedWatch data showing expectations for a quarter-point cut in September, rose to 83% from 75% earlier in the week. American Eequities and Crypto have gathered virtually since Powell’s speech with Aave among the biggest movements.
WLFI Exposure Recovery transfers
Another factor analysts say it may not be fully priced in is Aave’s share in World Liberty Financial (Wlfi). In October 2024, WLFI suggested to launch its own Aave V3 occurrence at Ethereum Mainnet. As part of the event, Aavedao was awarded 20% of WLFI’s protocol fees and 7% of its management funds.
Simon, analyst at Delphi Digital, noted on Saturday that with WLFIS Token, which should start trading on September 1 to an implied valuation of $ 27.3 billion, Aave’s award could be worth around $ 1.9 billion – more than a third of its current $ 5 billion fully diluted valuation. He argued that this exposure can contribute to Aave’s rally, although investors are only now undergoing its importance.
Technical analysis highlights
- According to Coindesk Research’s technical analysis data model, AAVE published significant gains during the 24-hour trade period from August 22 at. 12:00 ADC to August 23 at 1 p.m. 11am UTC, where he climbed from $ 297.75 to $ 353.22-one increase of 18.65%, reflecting growing confidence in the platform’s expansion strategy.
- The digital asset traded within a range of $ 62.11 swung between $ 294.50 and $ 356.60, with the most pronounced price movement that occurred at 14:00 UTC on August 22, when trade reached 340,907 units, which essentially exceeded the daily average of 102,554 units.
- Sustainable purchase pressure was observed during the last hour of the analysis period from 10:49 AM to 11:48 AM on August 23, with Aave going from $ 349.61 to $ 353.79.
- Trading volumes consistently exceeded 3,000 units below key levels of $ 352.55, $ 353.98 and $ 355.52, compared to the session’s average of 1,647 units, indicating what market participants describe as methodological institutional positioning.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
