AAVE Price Surges 20% as Aave V4 Sees Record Growth

The price of AAVE surged by over 20% in the past 24 hours, breaking above the key resistance level of $76. The token's price climbed from below $80 intraday to nearly $97 before reversing briefly.

One of the major catalysts driving the rally was the strong growth of Aave V4, the latest version of the lending protocol. Deposits on Aave V4 have surpassed $200 million, with active loans rising above $56 million in just four weeks.

Aave founder Luigi D'Onorio DeMeo pointed out that tokenized stocks on Aave V4 could give investors a bigger share of lending rewards by removing middlemen. The total value of assets locked across DeFi platforms is expected to reach $2.7 trillion by 2030, according to Standard Chartered.