Aave’s Price Soars Amidst Regulatory Boost in DeFi

Aave (AAVE) is experiencing a significant price surge, gaining over 22% in the last 24 hours to reach around $264.80 as of this writing. Increased trading volume further suggests investor enthusiasm for the project. The price jump coincides with the recent passage of the GENIUS Act by the U.S. Senate, aiming to regulate stablecoins and potentially boost DeFi growth. Analyst Karan Singh Arora highlighted on X that AAVE could be a major beneficiary. This is because Aave relies on stablecoin funds for its lending and borrowing services, which could see benefits from clearer rules around these currencies.