Aave (AAVE) has recently seen some noteworthy activity, trading at $105.97 with a 3.35% increase over the past 24 hours. This rise in value reflects positive short-term momentum and ongoing investor interest in the cryptocurrency.
With a market capitalization of approximately $1.58 billion, Aave is ranked as the 55th largest cryptocurrency by market cap. This substantial valuation underscores its significant role in the cryptocurrency space and highlights the level of investor confidence in its continued growth and stability.
The trading volume for Aave over the last 24 hours is $126.66 million, which represents a 45.40% increase from the previous day. This strong trading activity contributes to a volume-to-market cap ratio of 8.02%, indicating a healthy level of liquidity and active market participation.
A higher volume-to-market cap ratio often suggests that a significant portion of the market cap is being actively traded, which can be a positive sign for both liquidity and price discovery.
Aave’s total value locked (TVL) stands at approximately $13.16 billion. TVL is a key metric in the DeFi (Decentralized Finance) space, representing the amount of assets that are locked within the Aave protocol. The market cap-to-TVL ratio for Aave is 0.12, which is relatively low.
This suggests that the value locked in Aave’s protocols represents a large portion of its market cap, reflecting a high degree of utilization within its ecosystem and indicating strong engagement with its DeFi services.
The circulating supply of Aave is 14,879,111 AAVE, with a total supply of 16,000,000 AAVE. This means that 93% of the total supply is currently in circulation. The maximum supply of AAVE is not capped, which implies that additional tokens could potentially be introduced in the future.
The fully diluted market cap, which reflects the total market value if all AAVE tokens were to be in circulation, is approximately $1.70 billion. This is close to the current market cap, indicating that the majority of the total supply is already in circulation.
Overall, Aave (AAVE) presents a compelling profile within the cryptocurrency market. Its high market cap and substantial TVL demonstrate its prominent position in the DeFi sector.
The recent increase in trading volume and the healthy volume-to-market cap ratio underscore strong market activity and liquidity. However, the relatively low market cap-to-TVL ratio highlights the significant value being utilized within the Aave ecosystem, pointing to its strong role in the DeFi space and potential for further growth.
Investors should monitor Aave’s ongoing market performance and trends in the DeFi sector to make informed investment decisions. The current metrics suggest that AAVE is a well-established asset with considerable value locked in its protocols and robust market activity. As always, careful consideration of market conditions and ongoing developments is essential for navigating investments in the cryptocurrency space.
