Along with the broader crypto market upside

Along with the broader crypto market upside, AAVE AAVE $174.6 24h volatility: 5.5% Market cap: $2.64 B Vol. 24h: $270.65 M

The broader cryptocurrency market continues to display strength, with AAVE among the notable performers. The AAVE price has surged by 25% in the past 24 hours, reaching the $270 level as its market cap approaches $4 billion.

With today’s price increase, AAVE has nearly tripled from its April lows of $137, showcasing a massive 286% price gain from the year’s lows.

The recent price rally in AAVE can be attributed to the GENIUS Act, which is being considered by the Senate to establish a stablecoin regulatory framework—a crucial aspect for DeFi protocols like Aave.

Since Aave depends heavily on stablecoins such as USDC, DAI, and its native GHO, regulatory clarity could lead to greater participation from institutional investors and build trust among users of the Aave ecosystem.

This factor has also contributed to a 65% surge in daily trading volumes for AAVE, exceeding $800 million.

Aave active addresses rise 57% in two days

The AAVE price surge also comes as the protocol has positioned itself as the leading DeFi protocol by total value locked (TVL). According to DeFiLlama, Aave’s TVL has risen nearly 40% over the past month to reach $40.7 billion.

This rapid growth has also translated into significant revenue generation for the protocol. AAVE has already generated over $250 million in fees year-to-date, making it one of the most profitable protocols in the DeFi space.

The recent price rally in AAVE also comes with a 57% spike in daily active addresses over the past two days.

AAVE Active Addresses, Source: Santiment

The image above from Santiment also shows that the weighted sentiment for AAVE has flipped positive, which highlights that market participants are becoming bullish on the token in the short term.

If we observe closely, a large part of the altcoin’s rally has come through AAVE buyback programs, in which the protocol is buying back $1 million worth of tokens on a weekly basis.

Technical chart shows major strength

On the 1-day USDT chart, the Aroon Up indicator registers 100%, while Aroon Down is at 0%, indicating strong bullish momentum. The Chaikin Money Flow Index (CMF) shows a positive reading of 0.26, suggesting increased capital inflows into the token.

AAVE price, Aroon and CMF chart – Source: TradingView

The daily chart of AAVE shows the formation of a “Golden Cross” as the 50-day and 200-day moving averages inch closer to a crossover, often regarded as a bullish signal.

AAVE Golden Cross – Source: TradingView

The token is approaching the 61.8% Fibonacci retracement level at $271.35. A decisive breakout above this threshold could open the path to the 50% Fibonacci retracement level at $347.19, which would represent a 30% price increase from the current levels.

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Amid this, Mind of Pepe (MIND) is making waves in the cryptocurrency space with its ongoing presale, setting itself apart from the typical meme coin narrative.

While meme coins are often criticized for their speculative nature and lack of utility, Mind of Pepe introduces a unique use case. The project leverages a dynamic AI agent to provide users with reliable market intelligence and advanced analytical tools.

Mind token and presale highlights

The native ERC-20 token, MIND, serves as the gateway to the platform’s ecosystem. Currently offered at a discounted rate of $0.0037, MIND tokens grant holders exclusive benefits, including early access to AI-powered token releases and participation in governance decisions.

Notably, staking for MIND tokens is already live, offering an attractive annual percentage yield (APY) of 236%. The presale has raised an impressive $9.6 million so far, highlighting strong interest from early investors.

Key Presale Details:

The presale is set to close in 15 days, with the token’s price expected to rise afterward. Amid growing demand for AI-powered tools in the crypto space, Mind of Pepe’s innovative approach and promising staking rewards position it as an appealing opportunity. The platform’s ability to combine cutting-edge technology with practical utility could easily solidify its place in the competitive meme coin and AI sectors.