Whale Activity Boosts Aave Amid Market Rebound
Aave, a decentralized finance protocol, has witnessed a surge in whale activity as the market seeks to recover from recent price drops that affected many altcoins. Lookonchain data revealed that whales accumulated significant amounts of Aave (AAVE) over a two-day period, withdrawing over 58,848 AAVE valued at $6.47 million from exchanges. This activity, including large withdrawals and deposits, has contributed to AAVE’s price increase of more than 7% in the past 24 hours, with the token currently trading around $111.
Aave V3.1 Launch and Enhancements
The total value locked in the Aave protocol is approximately $22 billion, with the majority on Aave V3. Aave Labs announced the launch of Aave V3.1, featuring security enhancements approved by Aave DAO governance. This new version aims to improve operational efficiency and usability of the DeFi protocol. Additionally, Aave Labs outlined a comprehensive roadmap for future developments, including plans for Aave V4 by 2030.
