• AAVE hits a total market cap of $69 B, showing strong growth and renewed investor interest.
• AAVE price surges toward a potential $628 target, signaling significant upside from current levels.
• Trading volume and open interest rise sharply, reflecting strong market activity and healthy momentum.

Aave (AAVE) has been making a strong comeback in the crypto market, surging nearly 12% over the last 24 hours. With growing market momentum, AAVE is approaching new highs, suggesting potential for significant gains.

At the time of writing, Aave (AAVE) is trading at $343.79, with a 24-hour trading volume of $2.05 billion and a market capitalization of $5.32 billion. In the past 24 hours, AAVE has surged 12.02%, reflecting renewed interest in the decentralized finance (DeFi) platform.

AAVE Gains Momentum in the Crypto Market

Crypto analyst CW remarked that AAVE has now reached a total market size well over $69 billion across all the blockchain networks it supports, demonstrating its increasing impact in the DeFi sphere.

AAVE Surges Toward New Post-Breakout High

Concurrently, well-known crypto analyst JAVON MARKS noted that AAVE is en route to a new post-breakout high. Given the prevailing momentum, the digital currency could target the $628.5 mark, representing a gain of more than 70% from current levels. Market analysts are carefully monitoring the move and propose that AAVE could be poised for a healthy growth phase.

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AAVE Derivative Market Sees Strong Growth

AAVE registered a sharp surge as trading activity gained considerable momentum. The volume surged by 97.20% to $2.34B, reflecting strong buying and selling momentum, and open interest increased 36.23% to $729.67 million, indicating new investors entering the market.

Conversely, the OI Weighted Funding Rate was at 0.0150%, indicating that even though open interest is higher, the risk and pressure from leverage are relatively steady. This implies that although investors are entering more aggressively, positions remain balanced without excessive exposure. This configuration could support gradual price growth if momentum persists.

Also Read | Aave Price Momentum Builds: Support Levels Hold as Market Eyes $542 Peak