AAVE price rebounds as Aave TVL skyrockets on Ethereum ETFs optimism 

AAVE price rebounds as Aave TVL skyrockets on Ethereum ETFs optimism 
фото показано с : invezz.com

2024-5-24 17:38

Aave (AAVE) has recorded significant surges over the past week, climbing 13% to new highs of $99.51. 

AAVE 7D Chart on Coinmarketcap

The crypto changed hands at $93.9 during this writing following slight broad-market-triggered dips. 

The notable price increase from Monday’s $84.75 zone came from enhanced market sentiment amid spot Ethereum exchange-traded funds approval expectations.  

The launch of Ethereum custody services by SEC-licensed firm Prometheum added to this optimism.

Ether ETHs propelling AAVE’s growth

The Ethereum-based lending protocol has grown substantially since Monday, with its total value locked soaring by $2.26 billion to $13.33 billion – the highest value since May 2022. 

AAVE TVL Chart on DeFiLlama

Increased investor attention on Ethereum amidst the potential spot ETH ETFs authorization by the United States SEC propelled Aave’s TVL.

Ethereum-related projects flourish 

Decentralized finance protocols display renewed momentum due to the buoyancy surrounding Ether ETFs.

Ethereum-based decentralized exchange Uniswap saw its TVL surge by $837M since Monday. Also, UNI’s price jumped from $7.65 to press time values of $9.69. 

Also, altcoins PepeCoin felt the buzz, skyrocketing to new all-time highs. PEPE has its market cap at $5.80 billion – a 32.4% surge over the past week.

Market participants will watch the SEC’s decision on spot ETH exchange-traded funds, expected today.

Note: SEC #Ethereum ETF approval deadline 2.5 hours time.

— MartyParty (@martypartymusic) May 23, 2024

Bullish updates will trigger notable price movements in the altcoin market, boosting Aave’s recovery.

The post AAVE price rebounds as Aave TVL skyrockets on Ethereum ETFs optimism  appeared first on Invezz

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aave crypto changed new highs hands slight

Источник: invezz.com

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