Ah, the AAVE token, a veritable phoenix rising from the ashes of mediocrity! It has gallantly soared to heights unseen since the first of February, boasting a staggering 180% increase from its nadir on the seventh of April. One might say it has taken a page from the great romantic poets, for it is indeed a tale of triumph! 🌟
In a delightful twist of fate, AAVE (AAVE) has ascended to the princely sum of $312, as the network’s growth has accelerated with the fervor of a thousand caffeinated squirrels. The total value locked within this digital realm has leapt to a dizzying $27.5 billion, a far cry from the paltry $16 billion it languished at in April. Who knew that numbers could dance so? 💃
But wait, there’s more! The total borrowed amount has risen to a staggering $17.5 billion, up from a mere $10 billion on the thirteenth of April. Clearly, the protocol is not just gaining traction; it is positively galloping into the sunset! 🏇
And what of AAVE’s fees, you ask? They have also taken a delightful leap, generating $40 million in May, a charming increase from $33 million in April. Most notably, the cumulative revenue has crossed the illustrious threshold of $210 million, now resting comfortably at $211.7 million. One can only imagine the champagne corks popping in celebration! 🍾
As if that were not enough, the price of AAVE has surged as the amount of staked tokens has climbed to heights not seen since February. A staggering $912 million worth of staked AAVE coins now graces the digital landscape, a significant rise from this month’s low of $350 million. Truly, a sight to behold! 👀
The rally, dear reader, has coincided with a meteoric rise in futures open interest, which has soared to a record high of $745 million, up from the year-to-date low of $180 million. Such soaring open interest is a clear signal of growing demand from investors, or perhaps just a sign that everyone has suddenly decided to take a gamble! 🎲
Meanwhile, AAVE’s supply on exchanges has dwindled from 3.8 million in December of yore to a mere 3.06 million today. The total supply in profit has jumped to 1.25 million, its highest level since January. It seems the tides of fortune are favoring the bold! ⚓
AAVE price technical analysis
Now, let us turn our gaze to the daily chart, which reveals that the AAVE token bottomed at $114.80, its lowest point on the seventh of April. It has recently broken above the resistance level at $282.10, its highest swing on the twenty-seventh of May. A true spectacle of resilience! 🎉
In a flourish of technical prowess, AAVE has formed a golden cross pattern, as the 50-day and 200-day Exponential Moving Averages continue to slope upward like a well-trained ballet dancer. The Relative Strength Index and the Average Directional Index have also continued their upward trajectory, much to the delight of the bulls! 🐂
It is likely that the token will continue its ascent as bulls target last year’s high of $398.85, a peak reached in December and a tantalizing 28% above the current level. However, should it dare to drop below the support at $282, the bullish outlook would be dashed, much like a dream deferred. 🌈
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2025-06-11 21:15