Aave Registers Best New-Wallet Day Since 2021, AAVE Up 9% in Week
Aave, one of the largest decentralized lending protocols, added 1,806 new wallets on Ethereum on June 30, its highest single-day count since October 2021, according to Santiment. This network growth signals fresh interest despite a weakening broader crypto market. The AAVE token is up about 9% over the past week, trading around $86.2, contrasting with a general market decline. The protocol holds approximately $12.2 billion in total value locked, fueled by anticipation of its V4 upgrade, active governance debates on borrowing limits, and a revenue-focused mechanism called Smart Value Recapture. Additionally, Standard Chartered's June report set a long-term price target of $3,500 for AAVE by 2030 if it capitalizes on the tokenized assets trend. However, analysts caution that the surge in new wallets must translate into actual usage—deposits, borrowing, and revenue—to sustain the rally. If participation deepens, AAVE gains a firmer foundation; if not, the spike may represent speculative interest rather than a lasting recovery.
Key facts
- Aave added 1,806 new wallets on June 30, highest since October 2021.
- AAVE token up ~9% in a week, outperforming weak broader market.
- Protocol holds ~$12.2B total value locked, driven by V4 upgrade and revenue focus.
- Standard Chartered set a $3,500 price target for AAVE by 2030.
- New wallets must show real usage to sustain rally, analysts warn.