AAVE Leads Top 40 Cryptocurrencies With 19% Surge in One Day — Here’s What’s Driving It

AAVE jumped 19% to $355.29, leading the top 40 cyrptocurrencies as investors weighed its Aptos expansion, Powell’s dovish tone and renewed focus on WLFI exposure. AAVE surged nearly 19% to $355 over the past 24 hours, according to CoinDesk Data, leading the top 40 cryptocurrencies by percentage daily gain as investors responded to its recent Aptos expansion and Federal Reserve Chair Jerome Powell’s dovish remarks. Aave is a decentralized finance protocol that lets users lend and borrow cryptocurrencies without intermediaries. Loans are managed by smart contracts, with borrowers required to post collateral valued above their loans. The AAVE token underpins this system. It can be staked to support security and earn rewards, used as collateral for borrowing and grants holders governance rights. In return, tokenholders gain voting power and fee benefits, making AAVE central to protocol operations. On Aug. 21, Aave Labs announced that Aave V3 had gone live on Aptos, its first deployment on a non-EVM blockchain. Developers rewrote the codebase in the Move language, rebuilt the user interface and adapted the protocol for the Aptos virtual machine. The launch was supported by audits, a mainnet capture-the-flag competition, and a $500,000 bug bounty. The first market supports assets including APT, sUSDe, USDT and USDC, with supply and borrow caps to be raised gradually. Chaos Labs and Llama Risk conducted risk assessments, and Chainlink provided price feeds. Aave Labs founder and CEO Stani Kulechov called the launch “an incredible milestone,” highlighting the shift beyond EVM chains after five years of exclusivity. Fed Chair Jerome Powell's speech on Friday morning at the Jackson Hole Economic Policy Symposium added momentum. Powell said the balance of risks between inflation and employment had shifted, signaling that interest rate cuts could begin in September. Markets viewed his remarks as dovish, with CME FedWatch data showing expectations for a quarter-point cut in September rising to 83% from 75% earlier in the week. U.S. eequities and crypto have rallied broadly since Powell's speech, with AAVE among the biggest movers. Another factor analysts say may not be fully priced in is Aave’s stake in World Liberty Financial (WLFI). In October 2024, WLFI proposed launching its own Aave V3 instance on Ethereum mainnet. As part of the arrangement, AaveDAO was allocated 20% of WLFI’s protocol fees and 7% of its governance tokens. Simon, an analyst at Delphi Digital, noted on Saturday that with WLFI’s token set to begin trading Sept. 1 at an implied $27.3 billion valuation, Aave’s allocation could be worth around $1.9 billion — more than a third of its current $5 billion fully diluted valuation. He argued that this exposure may be contributing to AAVE’s rally, even if investors are only now revisiting its significance. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Siamak Masnavi is a researcher focused on blockchain technology, cryptocurrency regulation and macroeconomic forces shaping digital assets — including interest rate policy, capital flows and adoption trends. He holds an MSc and PhD in computer science from the University of London and began his career in software development, with... https://www.coindesk.com/markets/2025/08/23/aave-leads-top-40-cryptocurrencies-with-19-surge-in-one-day-here-s-what-s-driving-it #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple