Aave has outperformed DeFi blue chip tokens in Q3 returns and eclipsed BTC in YTD profits. Will the uptrend continue?
has been an outlier on the price charts, defying overall market headwinds that derailed most assets at the start of H2 2024. It slightly outperformed even“$AAVE is trading at the highest level since May 2022 and seems to be breaking out from a 2 year consolidation pattern. Expect ATH reclaim to further solidify DeFi Renaissance.”For context, AAVE debuted in 2020 and hit an ATH of $668 at the peak of last cycle’s bull run in 2021.
The report singled out AAVE’s strong growth potential and solid fundamentals, indicating that it is primed to benefit from the likely demand.This was nearly 2X the borrowed amount of around $3.4 billion in early 2024. This underscored the protocol’s growth, but the remarkable performance was also evident on price charts.
So far in Q3, AAVE has been up by 60%, while the rest of the lending sector and overall DeFi blue chip tokens have been in the red.Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends. Armed with charts and patterns, he's interested in making the intricate, complex landscape of digital assets more palatable for every user.Subscribe to get it daily in your inbox.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aave founder dumps $6.67M AAVE: Should you cash out too?Aave founder has sold 55K AAVE since February and led the latest round of profit-taking. Should you follow suit?
Read more »
Aave: Is $146 the make-or-break point for AAVE’s price rally?AAVE rejected at $146 resistance, with consolidation likely unless a breakout leads to higher price targets.
Read more »
Aave outpaces BTC but hits resistance: Is a reversal on the horizon?This could be the start of a reversal of AAVE/BTC pair but it is yet to be confirmed since Aave's fundamentals say otherwise.
Read more »
Bitcoin: Binance moves 75,177 BTC – Is a major sell-off incoming?Binance Bitcoin Cold wallet which holds 75,177 BTC, transferred a 30,000 BTC to its hot wallet and the remaining 45,177 BTC to another wallet
Read more »
AAVE targets $153 amid solid investor backing: Will the altcoin rally?AAVE targets a rally to $153 amidst strong investor backing and positive market indicators. Bullish trends from Coinglass help this analysis.
Read more »
AAVE surges amid market downturn: What’s next for the altcoin?Aave's price surges, outperforming major cryptocurrencies with potential for a golden cross despite recent declines.
Read more »