{"id":25953,"date":"2023-06-26T20:52:57","date_gmt":"2023-06-27T00:52:57","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25953"},"modified":"2023-06-26T20:52:57","modified_gmt":"2023-06-27T00:52:57","slug":"aave-up-by-28-in-7-days-as-defi-tokens-make-a-comeback","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/26\/aave-up-by-28-in-7-days-as-defi-tokens-make-a-comeback\/","title":{"rendered":"AAVE Up By 28% In 7 Days As DeFi Tokens Make A Comeback"},"content":{"rendered":"

AAVE, one of the most prominent DeFi tokens, is currently experiencing a market pump, gaining\u00a0 28.33% in the last 7 days, according to CoinMarketCap data<\/a>.<\/p>\n

Over the past week, most of the crypto market has seen a boost in prices following the Bitcoin-fueled recovery, which also saw the premier cryptocurrency trade above $31,000<\/a> for the first time since June 2022.<\/p>\n

AAVE Price Overview\u00a0<\/h2>\n

AAVE began last week trading around $50.99 before experiencing some steady gains during the week, causing the DeFi token to close its weekly market at a price of $56.86.<\/p>\n

Related Reading: Pepe Surge: Trading Volume Outshines SHIB And DOGE \u2013 Will This Trend Continue?<\/a><\/p>\n

That said, the AAVE coin experienced a massive spike in price yesterday, June 25, propelling the token by 32% to trade as high as $75.06 for the first time since last month.\u00a0<\/p>\n

Although the token has since declined from this price level, AAVE appears to have found some stability and could be preparing for another breakout.<\/p>\n

At the time of writing, AAVE is exchanging hands at $65.4, with a 0.67% rise in the last hour. Meanwhile, the token\u2019s daily trading volume stands at $406 million, having gone up by 1.85% in the last 24 hours.\u00a0<\/p>\n

In addition, AAVE boasts a total market cap of roughly $942 million, allowing it to rank as the 44th biggest cryptocurrency in the market.\u00a0<\/p>\n\n

Behind\u2019s AAVE Rise<\/h2>\n

Following AAVE\u2019s recent price boost, there has been much speculation on the propelling force behind this bullish movement.\u00a0 According to on-chain analytics firm, Lookonchain, AAVE\u2019s gain in market price appears to be due to massive whale activity by an investor with wallet address \u201c0x5a80\u201d in the last day.<\/p>\n

Related Reading: Lightning Network Hits Record Highs In Bitcoin And US Dollar Capacity<\/a><\/p>\n

Via a post on their official Twitter handle, Lookonchain reported<\/a> that Whale \u201c0x5a80\u201d began acquiring massive amounts of the DeFi token in the early hours of yesterday. The individual purchased 182,152 AAVE \u2013 worth $13.2 million at the time \u2013 within a span of 5 hours.\u00a0<\/p>\n

Looking at data from CoinMarketCap, Lookonchain concluded that this massive whale activity coincided with the period in which AAVE\u2019s surge in market value began yesterday.\u00a0<\/p>\n

As of this morning, the blockchain data platform also reported<\/a> that the whale \u201c0x5a80\u201d\u00a0 had acquired a total of 257,147 AAVE tokens \u2013 valued then at $17.2 million \u2013 in the last 24 hours. Before halting their buying spree, whale \u201c0x5a80\u201d is believed to hold an estimate of 474,579 AAVE tokens \u2013 valued at $31.8 million.<\/p>\n

However, since whale \u201c0x5a80\u201d stopped accumulating AAVE, the token\u2019s market price has been on a nosedive, losing nearly 13% of its value in the last 8 hours.\u00a0<\/p>\n

That said, several AAVE investors are likely to be on the watch for the actions of the whale \u201c0x5a80\u201d over the next few days, as it may be pivotal to the token\u2019s future price movements.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

AAVE, one of the most prominent DeFi tokens, is currently experiencing a market pump, gaining\u00a0 28.33% in the last 7 days, according to CoinMarketCap data<\/a>.<\/p>\n

Over the past week, most of the crypto market has seen a boost in prices following the Bitcoin-fueled recovery, which also saw the premier cryptocurrency trade above $31,000<\/a> for the first time since June 2022.<\/p>\n

AAVE Price Overview\u00a0<\/h2>\n

AAVE began last week trading around $50.99 before experiencing some steady gains during the week, causing the DeFi token to close its weekly market at a price of $56.86.<\/p>\n

Related Reading: Pepe Surge: Trading Volume Outshines SHIB And DOGE \u2013 Will This Trend Continue?<\/a><\/p>\n

That said, the AAVE coin experienced a massive spike in price yesterday, June 25, propelling the token by 32% to trade as high as $75.06 for the first time since last month.\u00a0<\/p>\n

Although the token has since declined from this price level, AAVE appears to have found some stability and could be preparing for another breakout.<\/p>\n

At the time of writing, AAVE is exchanging hands at $65.4, with a 0.67% rise in the last hour. Meanwhile, the token\u2019s daily trading volume stands at $406 million, having gone up by 1.85% in the last 24 hours.\u00a0<\/p>\n

In addition, AAVE boasts a total market cap of roughly $942 million, allowing it to rank as the 44th biggest cryptocurrency in the market.\u00a0<\/p>\n

Behind\u2019s AAVE Rise<\/h2>\n

Following AAVE\u2019s recent price boost, there has been much speculation on the propelling force behind this bullish movement.\u00a0 According to on-chain analytics firm, Lookonchain, AAVE\u2019s gain in market price appears to be due to massive whale activity by an investor with wallet address \u201c0x5a80\u201d in the last day.<\/p>\n

Related Reading: Lightning Network Hits Record Highs In Bitcoin And US Dollar Capacity<\/a><\/p>\n

Via a post on their official Twitter handle, Lookonchain reported<\/a> that Whale \u201c0x5a80\u201d began acquiring massive amounts of the DeFi token in the early hours of yesterday. The individual purchased 182,152 AAVE \u2013 worth $13.2 million at the time \u2013 within a span of 5 hours.\u00a0<\/p>\n

Looking at data from CoinMarketCap, Lookonchain concluded that this massive whale activity coincided with the period in which AAVE\u2019s surge in market value began yesterday.\u00a0<\/p>\n

As of this morning, the blockchain data platform also reported<\/a> that the whale \u201c0x5a80\u201d\u00a0 had acquired a total of 257,147 AAVE tokens \u2013 valued then at $17.2 million \u2013 in the last 24 hours. Before halting their buying spree, whale \u201c0x5a80\u201d is believed to hold an estimate of 474,579 AAVE tokens \u2013 valued at $31.8 million.<\/p>\n

However, since whale \u201c0x5a80\u201d stopped accumulating AAVE, the token\u2019s market price has been on a nosedive, losing nearly 13% of its value in the last 8 hours.\u00a0<\/p>\n

That said, several AAVE investors are likely to be on the watch for the actions of the whale \u201c0x5a80\u201d over the next few days, as it may be pivotal to the token\u2019s future price movements.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-25953","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=25953"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25953\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25953"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}