Aave has soared to its highest price in over a year, driven by a strong bull trend and significant growth in Total Value Locked .The Total Value Locked in the network surged to over $13 billion in 2024, nearing its 2021 levels, driven by increased activity.has been on a bullish trajectory over the past few weeks, reaching its highest price point in over a year during the latest trading session.
The most notable growth occurred around August, jumping from approximately $1.3 billion to $2 billion.On-chain indicators reveal increased accumulation of AAVE over the past few months. The total number of holders with a non-zero balance rose from around 168,000 to about 170,000 before a slight dip to 169,000.Further analysis shows heightened activity among AAVE sharks and whales. The number of wallets holding between 100 and 1,000 AAVE tokens increased by over 1,000.
In 2024, the TVL surged to over $13 billion in the current quarter. At the time of writing, the TVL stands at around $12.4 billion.