AAVE (Aave) rose 2.15% in the last 24 hours.

Gate News Bot news, July 11, according to CoinMarketCap data, AAVE (Aave) is currently priced at $305.20, rising 2.15% in the last 24 hours, with a high of $314.90 and a low of $259.15. The 24-hour volume reached $652 million. The current market capitalization is approximately $4.632 billion, an increase of $97.5 million compared to yesterday.

Aave is the world's largest decentralized liquidity protocol. Users can deposit to earn interest on Aave or use collateral to borrow assets. The protocol has been deployed on Ethereum and over 12 other networks, with a weekly volume reaching billions of dollars. Aave supports the exchange of any ERC-20 tokens and offers staking rewards to enhance protocol security. AAVE token holders can participate in governance, determining asset listings and the direction of protocol development.

Important news about AAVE recently:

1️⃣ Cumulative loan volume surpasses $775 billion, moving towards the trillion-dollar milestone The cumulative borrowing volume of the Aave protocol has officially surpassed $775 billion, marking one of the largest usage milestones in DeFi history. Since the beginning of 2021, the borrowing curve of this protocol has continued to rise. Founder Stani Kulechov stated that the Aave protocol is expected to break the $1 trillion barrier, a vision that reflects the trend of decentralized lending shifting from an experimental stage to a necessity.

2️⃣ Dominate the DeFi space, with a continuously rising TVL share AAVE has surpassed Lido Finance in terms of Total Value Locked (TVL), currently accounting for 39% of DeFi TVL. The AAVE platform alone accounts for 22% of all DeFi TVL, with a nearly half share in the lending sector, around 46%. This rising trend indicates that AAVE is becoming a new practical pillar in the DeFi space.

3️⃣ Large amounts of funds continue to flow in, institutional investor confidence strengthens Recently, there have been multiple large transactions, including a whale spending 2.5 million USDT to buy 8243.44 AAVE at an average price of 303.27 USD, as well as an investor who previously built a position at the 2022 low buying another 7964 AAVE, worth approximately 2.38 million USD. These transactions indicate that institutional investors' confidence in AAVE is increasing.

From a technical perspective, the price of AAVE is gradually approaching the psychological level of $300. The Relative Strength Index (RSI) has reached 60 and is climbing into the overbought territory. The Moving Average Convergence Divergence (MACD) indicator shows a rising trend in the green histogram above the zero line, indicating that the upward momentum is strengthening.

This message does not constitute investment advice; investors should be aware of market volatility risks.