
AAVE Rallies as DeFi Market Tops $219 Billion
Aave’s AAVE token rebounded strongly on Oct. 3, pushing past key resistance levels despite some short-term profit-taking above $290.
The token is up 2% over the past 24 hours and 6% for the week, with support established near $284–$285, while it consolidates around $290.
The broader crypto market also showed strength, with Bitcoin (BTC) climbing above $122,000, approaching its August highs. The DeFi market surged to a record $219 billion in total assets, according to DeFiLlama, highlighting robust growth in the sector.
Aave Platform Sees Record Deposits
Aave’s total deposits hit a record $74 billion, reinforcing its position as the leading DeFi lending protocol. A recent partnership with Plasma, a stablecoin-focused blockchain, contributed to strong inflows, with the Plasma lending market on Aave surpassing $6 billion in less than a week.
Technical Analysis
- Intraday Range: $279.16–$294.33, peaking at $290.37.
- Support Zone: $284–$285 continues to hold.
- Resistance Zone: $290–$294 remains a barrier to further gains.
- Volume: Trading surged to 143,188 units, well above the 37,000 average.
- Pattern: Consolidation near current levels suggests accumulation, while technical indicators signal potential for further upside despite short-term profit-taking.