AAVE Price Jumps Over 10% as Aave V4 Deposits Boost Bullish Sentiment

Key Insights:

• AAVE price surged by over 10% in the last 24 hours, making the latest attempt to break past the current short-term ceiling.
• AAVE V4 deposits surge to $200 million for the first time in history.
• Loans on AAVE V4 are on track to cross $60 million within days.

Aave (AAVE) price has finally achieved a short-term breakout after previously struggling to push above $76. It surged close to $85 over the past 24 hours as sell pressure gripped the rest of the market. At the helm of that excitement was rapidly growing network activity around the Aave V4 protocol.

Aave price surged by over 15% in the last 24 hours. Thus, it became one of the most bullish coins among the top cryptocurrencies by market cap. This performance showed fresh momentum, allowing the AAVE crypto to push past the $76 resistance.

AAVE Price Breaks Short-Term Resistance | Source: TradingView

Previously, the AAVE coin could not surge past the $76 level for 9 consecutive days. However, it blasted through the same resistance, courtesy of renewed demand. This surge also pushed the RSI above its mid-level, confirming bullish strength.

AAVE Price Gains Momentum Amid Aave V4 Milestones

AAVE price appears to be building on the same momentum it has demonstrated since the second week of June. However, this performance may have been boosted by investor confidence cultivated by network performance.

AAVE V4 deposits have so far crossed over $200 million for the first time in history. Moreover, the network has achieved this within just 3 months after its launch.

Source: Blockworks

The AAVE V4 protocol’s growth suggests that investors are taking advantage of available passive opportunities. This suggests that investor confidence remains elevated despite the current market conditions.

The ecosystem growth was also evident in the appetite for loans on Aave V4. Active loans crossed the $56 million mark this week and are on track to hit $60 million within days if the trend continues.

Aave V4 Active Loans | Source: Token Terminal

Interestingly, Aave V4 had just over $30 million in active loans exactly 4 weeks ago. This means it has almost doubled within a short time.

Standard Chartered Offers Optimistic AAVE Price Prediction

Aave V4’s solid start has already attracted significant attention. This includes major financial institutions like Standard Chartered, which has reportedly predicted that AAVE will surge as high as $3,500 by 2030.

Standard Chartered Predicts $3,500 AAVE Price Level | Source: CoinMarketCap

It would take about a 4000% gain for AAVE crypto to meet Standard Chartered’s price prediction. Its current all-time high is around $666. That’s still significantly below the Standard Chartered AAVE price prediction.

Meanwhile, Grayscale recently listed Aave as one of the top on-chain apps by protocol revenue. This listing, combined with the prediction, underscores confidence not only in network activity but also in the protocol’s future.

In conclusion, AAVE coin price prediction reflects the rising institutional confidence in the protocol and its native coin. This aligns with the recent AAVE price action, which signaled healthy accumulation, especially in the last 2 weeks.

However, despite this recovery, the real test for AAVE crypto demand could still be ahead. This is because the price was still below its previous consolidation zone. It hovered there for a significant period between March and May.

If AAVE price maintains momentum beyond the same consolidation zone, that could be confirmation of sustained demand. Nevertheless, the existing demand and its ability to go against the grain earlier this week were a clear sign of returning investor confidence.

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