- AAVE’s 34% surge past $350 is driven by whale activity and strong DeFi developments fueling market optimism.
- Blockchain Capital’s $5M AAVE deposit signals strong confidence in the token’s long-term growth potential.
- AAVE’s growing DeFi partnerships and TVL around $22B strengthen its position and boost investor trust.
AAVE Breaks above $350 to Highest Price in Almost a Year. The token surged 34% in only 24 hours, and this was due to not only increased whale activity but several positive developments in decentralized finance. The fact that the crypto market showed an overall increase contributed too. AAVE is now the 31st biggest cryptocurrency, with a market value of $5.3 billion.
Whale Accumulation Strengthens Bullish Sentiment
Whale accumulation has been a key driver of AAVE’s recent price rally. According to spotonchain, Blockchain Capital deposited 16,964 AAVE (worth $5.06 million) to FalconX after two years of token inactivity. The firm remains the largest non-team or exchange holder of AAVE, holding 216,292 tokens worth approximately $66 million. With an average entry price of $82.9, Blockchain Capital’s activity signals confidence in AAVE’s long-term growth.
Additionally, lookonchain also reported that World Liberty Financial, linked to President-elect Donald Trump, purchased 3,357 AAVE tokens worth $1 million at an average price of $297.8. This investment coincided with a broader whale inflow, as large holders accumulated over 103,610 AAVE on December 9. Such movements underscore increasing interest from institutional players and high-net-worth investors.
DeFi Developments and Market Momentum
The surge in AAVE is consistent with the DeFi sector’s general bullish sentiment. At almost $22 billion, the protocol’s total value locked is still robust. Furthermore, AAVE’s integration into new platforms has amplified investor confidence.
Balancer recently announced its v3 upgrade, partnering with AAVE to optimize liquidity pools for higher yield. This move enhances capital efficiency and strengthens AAVE’s position within the DeFi ecosystem. Moreover, AAVE’s launch on Linea, a zk-rollup network supported by Consensys, will scale its transaction throughput while reducing fees.
The post AAVE Surges Past $350 as Whales Back Bullish DeFi Outlook and Market Rally appeared first on Crypto News Land.
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