AAVE pulls above $380 as recent deposit rates spike TVL to new highs

On December 12, according to market information, the lending protocol Aave token AAVE pulled up above $380, touching $388.52, and is now quoted at $379, up 36.12% in 24 hours.

As BlockBeats reported earlier today, several metrics for the Aave protocol have hit new highs, but the coin's price is currently at only 50 per cent of its ATH-era price. The total supply of stablecoins is also significantly higher compared to 2021, which is providing DeFi with the impetus to expect AAVE's price to push even higher. According to DeFiLlama data, Aave's TVL is now higher than it was during the last bull run in October 2021, hitting an all-time high, provisionally reported at $38.6 billion. Estimated annual revenues for the agreement are $117 million.

According to the data, AAVE is provisionally at $355, up 28.7% in 24 hours, 87.5% in the last 30 days, and 283.6% in a year, but still needs to rise 86.197% compared to its all-time high price ($661.69). In addition, AAVE's market capitalisation stands at $5.327 billion, up 49.296% from its all-time high of $7.953 billion.