{"id":5122,"date":"2025-07-06T14:11:34","date_gmt":"2025-07-06T14:11:34","guid":{"rendered":"https:\/\/bitunikey.com\/news\/aave-price-steady-as-whales-buy-exchange-supply-plunges\/"},"modified":"2025-07-06T14:11:37","modified_gmt":"2025-07-06T14:11:37","slug":"aave-price-steady-as-whales-buy-exchange-supply-plunges","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/aave-price-steady-as-whales-buy-exchange-supply-plunges\/","title":{"rendered":"AAVE price steady as whales buy, exchange supply plunges"},"content":{"rendered":"
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The price of AAVE held steady above the 50-day moving average as its role in decentralized finance grew, whales accumulated, and exchange reserves plunged.<\/p>\n

Aave (AAVE) price was trading at $272 on Sunday, July 6. That\u2019s up by 140% from its lowest level in April. This rebound has brought its market cap to $4.1 billion and its daily volume to over $250 million.<\/p>\n

On-chain metrics compiled by Nansen indicate that whales have continued to buy AAVE over the past few days. Whales have increased their holdings by 3.4% over the last 30 days to 198,535, a sign that they expect the trend to continue rising.\u00a0<\/p>\n

More data from Santiment reveals that the supply of AAVE on exchanges has been in a free fall this month. It has dropped to 2.9 million, its lowest level since February 2021. It has been crashing since peaking at 4.53 million in November 2023.<\/p>\n

<\/source><\/p>\n<\/picture>
AAVE balances on exchanges | Source: Santiment<\/a><\/figcaption><\/figure>\n

The falling AAVE balances on exchanges is a sign that investors continue moving their tokens to self-custody. It also signals that these investors expect the price to be robust over time.<\/p>\n

<\/p>\n

The main bullish factor for Aave is that it is the biggest player in the decentralized finance industry. DeFi Llama data<\/a> shows that the total value locked has increased by 7.8% over the last 30 days to exceed $26 billion.\u00a0<\/p>\n

This growth has made Aave one of the most profitable players in the DeFi space. It has generated cumulative revenues<\/a> of over $233 million and $3.3 million in the last 24 hours.\u00a0<\/p>\n

AAVE price technical analysis<\/h2>\n
<\/source>
\n\"aave\n<\/picture>
AAVE price chart | Source: crypto.news<\/figcaption><\/figure>\n

The daily timeframe chart shows that the AAVE price bottomed at $114.65 in April and then embarked on a bull run, pushing it to $323 in May.\u00a0<\/p>\n

AAVE then pulled back to a low of $213 in June and has now bounced back to $273. The coin has remained above the 50-day and 100-day Exponential Moving Averages, a sign that bulls are in control.\u00a0<\/p>\n

It has also formed an inverse head-and-shoulders pattern, a popular bullish reversal sign.\u00a0<\/p>\n

Therefore, the token is likely to experience a bullish breakout, with the initial target being $323, the highest level reached in May. A move above that level will signal further gains, potentially reaching the psychological point at $400, the highest level in 2024.<\/p>\n

The AAVE coin was created by Stani Kulechov, a Finnish entrepreneur who founded the project originally as ETHLend in 2017. In 2020, ETHLend \u2014 a decentralized peer-to-peer lending platform on Ethereum \u2014 was rebranded as Aave (which means \u201cghost\u201d in Finnish).<\/p>\n

The AAVE token was introduced as part of the protocol\u2019s transition to a more robust decentralized finance (DeFi) platform for borrowing and lending crypto assets.<\/p>\n

Kulechov is also recognized for his contributions to decentralized social networks, including Lens Protocol.<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The price of AAVE held steady above the 50-day moving average as its role in decentralized finance grew, whales accumulated, and exchange reserves plunged. Aave (AAVE) price was trading at…<\/p>\n","protected":false},"author":1,"featured_media":1115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=5122"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5122\/revisions"}],"predecessor-version":[{"id":5123,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5122\/revisions\/5123"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1115"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=5122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=5122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=5122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}