$AAVE, one of the leading DeFi tokens, is experiencing a notable surge, climbing 6% in the past hour.
It’s been one of the top tokens accumulated by “smart money” over the last 24 hours, signaling strong interest from investors. Even during the bear market, $AAVE consistently generated over $1 million per month, and now it’s making more than $1 million weekly.
$AAVE is crushing it! This top DeFi token is surging, up 6% in just the last hour.
It’s has been on a top 1 token of Tokens Accumulated by Smart Money in the last 24 hours.
And get this – even during the bear market, $AAVE was raking in over $1 million per month! Now,… pic.twitter.com/vpAr7HE2t9
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) September 9, 2024
The token has attracted attention from prominent crypto influencers, including @Crypto_Scient, @crypto_condom, and @Phoenix_Ash3s, further fueling its rise.
According to Lookonchain, a whale recently sold 28,554 $ETH, valued at $64.4 million, after the market crash on September 7 to pay off debts on $AAVE, resulting in a $17 million loss. This whale had accumulated around 30.5K $ETH between December 2023 and July 2024 at an average price of $2,850.
A whale capitulated after the price crash on Sept 7 and sold ~28,554 $ETH($64.4M) to pay off all debts on #Aave, losing more than $17M!
This whale accumulated ~30.5K $ETH at ~$2,850 between Dec 18, 2023 and Jul 31, 2024.https://t.co/JM1hXzY6UA pic.twitter.com/n6JRZJZHBm
— Lookonchain (@lookonchain) September 9, 2024
Major $AAVE Development That Looks To Boost Its Utility And Appeal
A major development for $AAVE is its potential integration with @worldlibertyfi, which some view as a proxy for Donald Trump’s decentralized finance (DeFi) app, as discussed in a recent post by @lemiscate. If confirmed, this integration could further boost $AAVE’s utility and appeal.
1⃣ IMO $AAVE is a Trump trade based on its reported “integration” with @worldlibertyfi per @lemiscate‘s post Friday. $WLFI tokens are reportedly nontransferrable per a @coindesk article from last week…if this is true, $AAVE becomes the best proxy token for Trump’s defi app. pic.twitter.com/uwKWVeLHMr
— CryptoCondom (@crypto_condom) September 9, 2024
$AAVE’s revenue model has proven resilient, even in bearish market conditions. According to @tokenterminal and @Token_Logic, $AAVE now earns over $1 million weekly. Its diversified revenue streams, including partnerships with @LidoFinance, @etherfi, and @ethena_labs, contribute to its growing total value locked (TVL) and product-market fit.
Looking forward, $AAVE’s future plans include launching structured derivative products and expanding into non-EVM chains like @aptos. With its robust revenue model, growing partnerships, and expanding market presence, $AAVE is well-positioned for continued success in the DeFi space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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