Aave, after the announcement of a plan to rebuild its tokenomics, raised back from its recent decline, creating fresh interest among whale investors.
According to data from Crypto.news, Aave (Aave) rose by about 27%, reached $ 220’s Intrade high on March 5, leading to its market cap to about $ 3.3 billion as the last check in the Asian afternoon season.
Aave’s daily trading volume increased to more than $ 850 million, while its futures increased open interest from 48% to over 257 million dollars, indicating a large jump in investor activity and demands among its derivative traders.
Despite the recent rally of Aave, Altcoin is still 75% below its highest point this year, while its circulating supply exceeds only 15 million Aave tokens.
Most benefits of today came after Mark Zelarr, founder of AAV Chan Initiative, formally requested community support on the proposal to reorganize the reorganization of AAVE, to eliminate land smart contracts and improve liquidity management for users.
“The proposal resumes revenue distribution, updates tokens, and underlines an economic structure for the future of AAV,” AAV wrote in an X post.
Another major driver of Aave’s advantage is its recent integration with Sonic, a high -speed EVM blockchain known as the first phantom. The move shut down the total value of Sonic to $ 33 million within a day.
With this integration, Sonic joined AAVE’s lending and lending network with atherium, optimism, mediation and polygon, among others, expanding AAV’s ecosystem, which has created fresh interest among investors.
Meanwhile, whale and smart money investors have focused their attention on Ave.
As LukanchainA whale recently bought around 20,000 AAV tokens of $ 4.25 million. Another whale spent 1,928.86 Purchase AAV worth $ 3.95 million is currently sitting on a floating profit of $ 406K.
Additionally, on-chain data firm alphanomics saw Strong Aave accumulation in the last two days, $ 1.5 million accumulated by top holders and $ 600K with pure flow from smart money wallet.
According to satisfaction data, the social spirit around Aave has become strongly positive with altcoin trending on Google.
One value analysis
Technical indicators indicate that AAV may see more benefits in short term.
On the 4-hour Aave/USDT price chart, both MACD and signal lines have pointed upwards, suggesting that Aave Aave is looking at strong purchase pressure, which may probably maintain its rapid trend.
In addition, the relative power index on 62 suggests that the tendency of boom is getting stronger and may be more profitable in the coming days.
However, analyst Comment To confirm a strong uptrend, it must first exit the falling wedge pattern that it has been making since January 21, as an immediate resistance level with $ 230.
Such breakouts may potentially push the price of AAV close to $ 350, a level where it faced resistance in the late January and also serves as a major psychological barrier.
Disclosure: This article does not represent investment advice. The materials and materials painted on this page are only for educational purposes.
