The Aave token has risen by more than 15% in the past 24 hours, climbing to around $82.77, managing to go against the overall decline in the crypto market. At the same time, Bitcoin (BTC) has fallen below the $60K mark for the third time in June.
While most major cryptocurrencies declined amid mass liquidations of leveraged positions, AAVE, on the contrary, continued to grow. Interest in the token was supported by improved key metrics of the protocol itself and increased attention from institutional investors.
USDT Deposits Indicate Capital Is Returning
Interest in Aave is also fueled by on-chain metrics. According to network data, USDT is actively flowing back into the protocol. The volume of stablecoin deposits in the Aave Ethereum V3 Core pool has already approached $3 billion.
Aave reported that the volume of USDT deposits in the main Ethereum V3 market has almost reached $3 billion, indicating a return of liquidity to the protocol.
USDT deposits in Aave V3 on Ethereum have approached $3 billion. Source: Aave.
The return of liquidity increases the protocol’s lending capabilities and makes yields more attractive for liquidity providers. Usually, such changes help attract additional capital to the Aave ecosystem.
Standard Chartered Forecast Draws Attention to Aave Again
An additional boost to AAVE‘s growth came from a recent forecast by Standard Chartered. The bank began analytical coverage of the token and stated that by the end of 2030, its value could reach $3,500.
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Standard Chartered’s head of digital asset research, Geoff Kendrick, called Aave a “bank on the blockchain.” In his opinion, the main driver of long-term growth will be the rapid expansion of the decentralized finance sector. He noted that the volume of assets used in DeFi has already increased by about 37 times, and this trend is what can support further protocol development.
AAVE price continued to rise after the Standard Chartered forecast was published. Source: CoinMarketCap.
According to Standard Chartered, the main growth potential for AAVE is linked to the development of tokenized real-world assets (RWA). The bank believes that integrating such assets into the protocol through the Aave Horizon solution could become the main driver of the token’s long-term growth.
Meanwhile, Bitcoin’s short-term drop below $60K on June 24 reflected a general deterioration in market sentiment. The pressure was intensified by the sell-off of shares in AI-related companies and the ongoing outflow of funds from spot ETFs.
Against this backdrop, the growth of AAVE looks particularly notable. While the rest of the market was declining, some capital, judging by the dynamics, began to flow into the DeFi sector. Analysts believe that maintaining this trend will be one of the key conditions for realizing the long-term forecast of Standard Chartered.
