af [AAVE] Has been on the receiving end of a lot of whale interest since past few months. Multiple collaborations in DeFi and banking may be the reason for this new interest. Furthermore, the increase in the TVL of V3 may excite whales.
But can AAVE continue to grow, or are whales just rapidly declining in AAVE?
it’s a whale party
Santiment, September 19, post An insight article showing great interest in AAVE by whales. Aave key whale addresses holding 1k to 1 million AAVE tokens accounted for as high as 54.5%. This is the maximum amount held by these addresses.
Keep going, Aave’s dThe past week has seen a huge uptick in development activity. This shows that the Aave team has been researching their technology extensively. Also, the introduction of new updates and features may be just around the corner.
The token’s trading volume has also seen an uptick. The number has soared from 70.83 million on September 18 to 123 million at the time of writing.
Some big leaps for AAVE
Aave has also made great strides in the DeFi market.it with Flashstake DAO This will allow users to pre-stake their Aave and get immediate rewards. Users no longer have to wait for earnings.
Aave is also making good progress with TVL, and its V3 protocol has been growing since May. Despite some volatility after peaking at $1.67 billion in August, TVL appears to be recovering. Additionally, the current total value locked at press time is $1.17 billion.
However, before making any trades, investors should keep in mind that there are some bearish indicators to consider here as well.
Aave’s social media dominance has been depreciating over the past month. This may indicate a lack of interest in the crypto community. Aave’s market cap has also been falling, a development that could be worrying for future investors.