AAVE jumps about 20% in a week as new wallets hit 1,806
Aave posted its biggest single-day increase in new Ethereum addresses in nearly five years on June 30, as Standard Chartered initiated coverage and the protocol revived buybacks.
AAVE rose about 20% over the past week while the broader crypto market weakened, alongside a sustained increase in activity on the lending protocol. Santiment said Aave added 1,806 new Ethereum addresses on June 30, its largest single-day wallet increase in nearly five years and the peak of a week-long rise in new users. The surge coincided with Standard Chartered initiating coverage of AAVE with a $3,500 price target tied to expectations that tokenized assets will expand across decentralized finance, while Aave also restarted its AAVE buyback program under Aavenomics 3.0 after moving beyond the April KelpDAO exploit fallout. Address growth is commonly used as a rough sign of participation, though wallets do not map one-to-one with individual users.
- decentralized finance: Blockchain-based financial services that operate without traditional intermediaries.
- buyback program: A mechanism through which a project uses revenue or reserves to purchase its own token.
- tokenized assets: Traditional or other assets represented digitally on a blockchain for trading or use in onchain applications.