Yo, AAVE is straight flexing right now! It blasted up 132% from its April lows and hit $269 — the highest since February. With over $800M traded today and futures open interest smashing records at $569M, it’s clear traders are all in on this DeFi beast.
What’s fueling the hype? For starters, the GENIUS Act just passed a major Senate vote, promising stablecoin regs that could make Aave’s life way easier. Since AAVE vibes heavily with stablecoins like USDC, DAI, and GHO, this clarity might lure in the big institutional sharks.
Plus, its Total Value Locked (TVL) jumped nearly 40% in a month to a massive $40.7B — crushing rivals like Lido. More money locked = more fees, and its already raking in over $250M this year. Talk about that cha-ching!
Technically, the charts are lit too. A golden cross (when the 50-day MA crosses the 200-day) is about to pop off — a classic bull signal. If this breaks above the 61.8% Fib level at $271, it could rocket to $347, a solid 30% jump.
Long story short: AAVE’s on 🔥 and the party’s far from over
You might find interesting: Metaplanet: 1,004 Bitcoin Buy Pushes Reserves Past Amazing $800M Milestone
