AAVE price soars to $123 all-time high as TVL rises and fundamentals improve

AAVE price soars to $123 all-time high as TVL rises and fundamentals improve


As the crypto bull market continues to gain traction, the price of Aave’s native token, (AAVE), is pushing toward new all-time highs.

The growth of the decentralized lending platform appears to be bolstered by improving fundamentals, steady growth in the total value locked on the platform, and the creation of a DeFi based crypto-collectibles token and community called Aavegotchi,

Unarguably, Aave was one of the DeFi success stories of 2020, as its price rose from $2 in January 2020 to today’s all-time high at $123.92.

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AAVE/USDT 4-hour chart. Source: TradingView.com

The most recent breakout saw the price rally by 52.6% in the past 3 days and a number of analysts attribute part the upmove to the “Coinbase ffect,” after the top U.S. crypto exchange announced plans to list AAVE on Dec.15.

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According to DeFi Pulse, Aave is now the second-ranked DeFi platform according to the total value locked metric with a total of $2.41 billion

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