Aave Crypto price continues its freefall this week, killing its lowest level sins on 28 June.
Summary
- Aave Crypto has built a local bear in the market after falling 23% from the high of July.
- The total value located in the ecosystem increased to a record high this week.
- Data shows that fees and revenue in the network are increasing.
Aave crypto value crashed desipes boom ecosystem
Ave (AAV), the largest player in the decentralized finance industry, is firing on all cylinders as it jumps property and fees.
The Defi LLAMA data shows that the total value located in the ecosystem reached a record high of $ 35 billion this week. It is a stranger for a platform that starts the year in property with $ 21 billion.
One of the main catalysts for the surge is Athena (ENA), which has recently increased to the property by about $ 5 billion. Dune analytics data shows that they have jumped over $ 1 billion in the last two days.
This increase has led to a big increase in its fees. Data shows that Aave has collected a fee of over $ 783 million in the last 12 months. Its annual income has increased to $ 47 million, which exceeded $ 110 million to reverse.
Token minal data suggests that the pure deposits of AAVE increased by 21%, with an active loan from 25% to 25.5.5 billion dollars. Monthly fees and revenue increased by 49% and 85% respectively.
This increase comes as a DEFI lending space gains, which compete with platforms such as morpho, compound finance and maple finance gating grounds.
A price technical analysis
The daily chart shows that AAVE declines after Peking at $ 337.25 in July. Drops coincided with a broader sales -co crypto markets.
The Aave has fallen below both the 50-day and 100-day exponential moving average and is getting closer to the psychological support level of $ 250. The relative power index is also near the Ooversold area.
The token is now sitting on the trendline on 7 April on the trendline connecting the lowest swing points. However, a brazing under the trendline will invalve this fast scenario.