Aave (AAVE) Continues to Rise on Improving Sentiment and Strategic Steps
The price of AAVE, the native currency of Aave, has been steadily rising, up 56% from its lows in June 2023. This is due to improving trader sentiment in the crypto market and bullish actions taken by Aave DAO. The rejection of lower lows by bitcoin has also been favorable for altcoins, including DeFi tokens like AAVE.
Main Breakdowns:
- Aave prices are solid due to improving trader sentiment and bullish steps taken by Aave DAO.
- The Aave community is voting on a proposal to deploy GHO stablecoin on the Ethereum mainnet.
- Aave DAO acquired additional BAL-WETH liquidity provider tokens from Balancer to increase liquidity in Aave’s pools on Balancer.
- The transaction was protected against MEV exploits and executed with low slippage through CowSwap’s Milkman protocol.
- Aave currently manages $5.9 billion in assets, with over $5 billion being Ethereum-based tokens.
With these strategic steps and increasing liquidity, Aave is expected to attract more users and generate higher revenue. As of now, AaveDAO’s daily revenue has been averaging below $30k.
Hot Take: Aave’s strong performance and strategic actions position it as a leading player in the DeFi space, attracting more traders and liquidity to its platform.
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