aave is making headlines again as its price recently surged by 18% in a single day, sparking renewed interest among crypto investors and traders.
Aave (AAVE) price recently surged by 18% in a single day, pushing the token closer to the $200 mark. This significant move sparked renewed interest among crypto investors and traders, who are now looking at the token with fresh optimism.
However, despite the impressive rally, Aave remains significantly distant from its all-time high (ATH) of over $660, which it had reached in 2021.
This begs the question: Could Aave really reach new highs again? Or are there better altcoins to invest in right now?
One of the primary catalysts behind Aave’s renewed momentum is the announcement of the Aave V3 deployment on the Aptos blockchain.
This move has coincided with Aave hitting an all-time high in total value locked (TVL), indicating growing user trust and expanding adoption of the Aave protocol.
The Aptos integration is a strategic step toward scalability and ecosystem expansion, potentially opening the doors to new users and liquidity sources.
Aave now holds 20% of all DeFi TVL.https://t.co/6L3Q7NjZ8w
— Aave (@AaveAave) August 24, 2023
Aave Crypto Price Prediction
Currently sitting at around $258, Aave has shown strength, gaining nearly 80% over the past month and showcasing consecutive weekly green candles since bottoming out at $115. However, despite the bullish outlook, the path to full recovery is not without its hurdles.
Technical analysis indicates that $AAVE faces a significant resistance zone around the $387 to $420 range, levels it last approached during its 2021 bull run.
Market participants are also wary of the potential for a bearish reversal pattern, particularly a large double top, which could signal weakening upward momentum if the token fails to sustain its climb.
On the support side, levels around $130 and $252 are currently holding strong, offering a solid base in the event of a pullback. The market cap now stands at approximately $3.95 billion, still below its previous peak of $6.72 billion, suggesting that $AAVE has ample room for growth if broader market conditions remain favorable.
This substantial gap between the current market cap and the previous high leaves room for potential upside should bullish sentiment continue.
Image Credit: Trading View
Why Solaxy (SOLX) Could Be a Smarter Bet Than Aave Right Now
Aave’s price action suggests growing investor confidence, fueled by major developments such as the Aptos deployment and the strengthening DeFi landscape.
While it’s too early to predict a return to all-time highs, the recent surge indicates strong momentum that could lead to further gains—provided key resistance levels are broken and bullish fundamentals persist.
Traders will be closely watching the coming weeks to see if $AAVE can continue its upward trend or if the current rally is just another temporary spike in an otherwise volatile market.
At the same time, Solaxy (SOLX) is emerging as a potential disruptor within the Solana ecosystem.
By launching the world’s first Solana Layer 2 network, this innovative crypto project aims to address the scalability and congestion issues holding Solana back, offering a bold new path forward for the blockchain’s future.
With the crypto markets heating up and Bitcoin nearing all-time highs, Solaxy arrives at a pivotal moment for investors looking to capitalize on the market’s bullish momentum.
The project has launched an aggressive and fast-moving presale, currently with only 26 days remaining. So far, it has impressively raised over $38.4 million, with a target set at $74 million before the presale concludes.
The speed at which funds are being accumulated — including $262,000 in the last 15 hours alone — reflects the strong investor interest and confidence in the project’s long-term potential.
At its core, Solaxy aims to solve several persistent challenges within the Solana blockchain, such as network congestion, failed transactions, and scalability bottlenecks.
By introducing a Layer 2 architecture, the platform enhances Solana’s existing strengths while mitigating its limitations. Solaxy offers a comprehensive solution tailored to maximize efficiency, throughput, and flexibility — an essential evolution for any blockchain aiming to keep up with growing user demand and rising transaction volumes.
One of the standout features of the Solaxy ecosystem is its newly announced “Igniter Protocol” — a token launchpad that allows $SOLX holders to create and launch their own tokens.
This development significantly expands Solaxy’s utility, transforming it from just a Layer 2 solution into a full-fledged platform for project incubation and token creation. The protocol is expected to attract both developers and investors, building a thriving ecosystem around
