AAVE Price Soars 95%: Tight Exchange Supply Fuels Crypto Surge

AAVE’s explosive price rally, a remarkable 95% increase since April, is fueled by a tightening supply of tokens on exchanges. This reduced immediate sell pressure and has bolstered investor confidence in the cryptocurrency market. The surge coincides with a significant rise in Aave’s total value locked (TVL), surpassing $24.2 billion. This growth is further driven by rising demand for AAVE, which correlates closely with major cryptocurrencies like Ethereum.