Aave at $265: $60B Deposits, TVL Surge, $280 Breakout
Aave is consolidating around $265 after a recent retracement, showing 3% daily gains despite a 6% monthly drop. On August 6, net deposits on Aave topped $60 billion for the first time in DeFi history. Total Value Locked (TVL) climbed over 45% within a month to $34.9 billion. Network fees rose to $65 million in July, underscoring strong user demand. The protocol also launched its V3 developer toolkit, providing React hooks, SDKs and APIs for simplified vault deployments and customizable borrowing strategies.
Trading activity has cooled: 24-hour spot volume fell 13% to $297 million, and derivatives volume dropped 19.3% to $503.6 million, while open interest rose 4.1% to $561.9 million. Technical indicators are neutral to mildly bullish. The MACD remains in negative territory, and the RSI sits at 43.3. Immediate support lies at $250–$255. Key resistance awaits at the 20-day EMA near $280 and at $310–$315. A decisive move above $280 could spark a breakout, while a drop below $250 may retest June lows near $230. Crypto traders should watch these levels for potential entry and exit points.
Bullish
The surge in Aave’s net deposits to $60 billion and a 45% TVL increase highlight robust on-chain fundamentals and rising demand. The launch of the V3 developer toolkit strengthens long-term ecosystem growth. While spot and derivatives volumes have cooled, a 4.1% rise in open interest signals trader interest in potential moves. Technical indicators remain neutral to mildly bullish, with a clear breakout level at $280. In the short term, consolidation around $265 could offer entry points for breakout traders. Over the longer term, sustained capital inflows and improved developer tools support bullish momentum for AAVE.