🌎 Aave Surges 34% in 24 Hours

**Aave Leads Crypto Market Gains with 34% Surge in 24 Hours**

Aave has emerged as the top gainer among the leading 100 crypto assets, with its native token surging 34% in the past 24 hours. At the time of writing, Aave is trading at $355, marking the first time since late August 2021 that the token has broken the $350 mark.

Market-Wide Bullish Momentum

The broader crypto market, including Bitcoin, started rising after the U.S. Consumer Price Index report on Wednesday. The U.S. inflation rate in November came in at 2.7% year-over-year, 0.1% up from October’s 2.6%. This led to a 4% increase in the global crypto market capitalization, reaching $3.82 trillion.

4 Key Factors Behind Aave’s Rally

A combination of factors has contributed to Aave’s surge. Here are the key reasons:

New Developments and Partnerships**: Aave’s DeFi total value locked is hovering at $22 billion, and recent developments have brought bullish sentiment to the protocol. For instance, Balancer’s decentralized exchange and automated portfolio management protocol upgrade to v3, in partnership with Aave, is expected to optimize liquidity pools and maximize yield.
Upcoming Launch on Linea**: Aave is set to launch on Linea, a zk-rollup network, after receiving approval from its community. This will enable Aave to scale up and increase its transaction throughput with lower fees.
President-elect Donald Trump’s DeFi Project**: World Liberty Financial, a DeFi project associated with President-elect Donald Trump, has accumulated $1 million worth of AAVE tokens at an average price of $297.8.
Whale Accumulation**: Aave’s whale accumulation strengthened as the price fell below the $260 mark on Monday, with large holder net inflow reaching 103,610 AAVE on Dec. 9. Sudden spikes in whale inflows can trigger the fear of missing out among retail investors, potentially pushing prices higher.

As Aave continues to gain momentum, it’s essential to stay informed about the latest developments in the crypto market. For more news and updates, visit Global Crypto News.