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- 1 AAVE TVL has observed a strong decline in the past year. The revenue is down by 8% in the past 30 Days.
- 2 AAVE is seeing a weak upside recovery in the daily chart. It has seen a slight decline in the AAVE/ETH pair.
AAVE is a defi protocol enabling users to borrow or lend cryptocurrencies. It is a noncustodial lending and flash loan protocol built on the Ethereum blockchain. The AAVE ecosystem provides users with a way to earn interest on their cryptocurrency holdings. Meanwhile, the ecosystem has been observing a decline in deposits and loans over the past few months.
AAVE has also seen a stagnation in the cumulative interest paid and origination fee. The deposits and withdrawals of AAVE as compared to Ethereum mainnet, have also seen a decline. The whales of AAVE have not seen any change in the past few months as per the Coin Market cap. Meanwhile, the token holders have seen a slight rise from the start of 2023. The revenue of the ecosystem has seen a decline of 8% in the past 30 days. The overall TVL of the AAVE is consolidating, nearly $8 Billion.
AAVE has a market cap of $953 Million and is ranked 50th in the crypto-verse. The total treasury of AAVE is nearly $126.2 Million. The V/M ratio of AAVE suggests a consolidated momentum in price.
AAVE Looking For A Strong Recovery
Aave is observing a weak recovery in the daily technical chart. Meanwhile, the weekly technical asset price chart hints toward a weak upside momentum. The asset price is trading near the value of $66.3, with a small gain in the intraday session. There is a U-shaped recovery in the daily chart of the asset price.
The upside trend of AAVE can see a halt near the value of $75.Meanwhile, the asset price support can be near $60.It is trading below the 50 and 100 Daily Moving Averages. A strong upside momentum can be observed if the AAVE jumps above the 50 DMA.
The MACD of AAVE suggests a weak upside trend in price. The Bars and signal lines of the asset price hint toward an upside momentum.
Summary
AAVE TVL has observed a decline in the TVL and revenue in the past 30 days. AAVE price is currently in a weak upside trend and can move to a new high in the future.
Technical Levels
Major Support:$60
Major Resistance:$75
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
