Crypto Market Sees Significant Gains as AI Infrastructure and DeFi Lending Take Center Stage

Bitcoin held steady at around $63,500 today, but smaller tokens saw significant gains. Among them were Velvet (VELVET), which surged by 68%, and AAVE, which hit a new high of over $93.

The rally in these assets is largely driven by the growing interest in AI infrastructure and decentralized finance (DeFi) lending. VELVET's integration with Trade.xyz on June 3rd was a key catalyst behind its recent price action. The platform allows users to trade cryptocurrencies, stocks, commodities, research, and execute trades all in one place.

VELVET has over 100,000 users trading on it currently, and the growing interest in synthetic pre-IPO perpetual futures is pulling new buyers into the market. However, analysts note that team and backer token unlocks begin in July 2026, which could add selling pressure if demand doesn't keep pace.

Another AI-related asset, SkyAI (SKYAI), saw a gain of over 17% today after Forward Industries, a company with nearly $1 billion in SOL, filed a letter of intent to acquire SkyAI Inc. This move has sparked direct investor interest in the SKYAI token.

AAVE, the largest decentralized lending protocol in crypto, also saw significant gains, up 11.82% today and reaching its highest price in over a year. Analysts note that AAVE's strong fundamental backing, including real revenue and users, makes it an attractive asset for investors.