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Will AAVE lead the DeFi renaissance in 2025? Data suggests…
Despite the DeFi renaissance, AAVE’s daily chart shows looming bearish trends.
In a recent report, AMBCrypto News revealed that DeFi experienced a renaissance in 2024 given that by the 17th of December, the Total Value Locked (TVL) had surged to a two-year high of $154 billion. This growth stirred interest in DeFi protocols and tokens such as Aave [AAVE]. In its yearly review, the AAVE protocol noted that net deposits hit a record high of $35 billion in 2024. Because of this growth, AAVE is now the largest DeFi platform.
Data from DeFiLlama also depicts similar growth after total monthly fees on the protocol rose to a three-year high of $65.34M. At the same time, revenues reached $11.68M. The total amount borrowed on the protocol has also increased to more than $14 billion.
The rising activity drove AAVE’s price gains in Q4 2024, and if the same growth is recorded this year, it could bode well for the altcoin.
Source: ambcrypto.com
