Beldex (bdx) 
The number of Aave holders has been decreasing over the past week while the token emerges as the top gainer in the mentioned timeframe.
Aave is up by 5% in the past 24 hours and is trading at $102.2 at the time of writing—a level last seen in late May. The asset gained 25.3% over the last seven days as the crypto market gained upward momentum. Its market cap currently stands at $1.52 billion, making it the 53rd-largest cryptocurrency.
Aave Price and Market Indicators
The asset’s price rally comes as the lending decentralized finance (DeFi) protocol’s Total Value Locked (TVL) increased by 7.5% over the past week, reaching $12.3 billion. Data shows that the platform accumulated $5.38 million in fees and generated over $862,600 in revenue in the same timeframe.
“Aave’s market activities have shown significant growth, marking it as a key player in the DeFi space.”
Holder Trends and Market Interest
According to recent data, the total number of Aave holders decreased from 168,340 to 167,900 unique addresses in the past seven days. However, market intelligence data indicates that Aave’s total open interest rallied from $31 million on July 7 to $55 million at the reporting time. This suggests high price volatility due to potential whale movements and increased liquidations.
RSI and Market Sentiment
The Aave Relative Strength Index (RSI) has been consistently rising over the past week, surging from 38 to 63. This indicator shows that the token is slightly overbought, so short-term profit-taking is normal in these conditions. For Aave to remain in the bullish zone, its RSI would need to cool down below the 50 mark.
Practical Tips for Investors
- Monitor Aave’s RSI to gauge market sentiment and potential entry points.
- Keep an eye on open interest data to understand market volatility.
- Stay updated on TVL changes as they reflect the platform’s growth and stability.
Stay informed with the latest updates and explore more news on Global Crypto News to keep your investment decisions well-grounded and timely.
