Aave logs biggest network-growth day in nearly 5 years as DeFi interest returns
The lending protocol added 1,806 new wallets in a single day, the most since October 2021, according to Santiment. The AAVE token has risen about 20% in a week even as the broader market slides.
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Summary
- Lending protocol Aave saw its strongest day of new-wallet creation on Ethereum since 2021 on June 30, adding 1,806 wallets even as the broader crypto market weakened.
- The AAVE token is up about 9% over the past week, and the protocol now holds roughly $12.2 billion in total value locked, helped by anticipation around a version upgrade and revenue-focused changes.
- Standard Chartered’s $3,500 price target for AAVE by 2030 and the recent wallet surge have revived interest in DeFi, though analysts warn that new addresses must translate into real usage to sustain the rally.
