Aave jumps more than 17% to above $175, breaking September highs

  • Aave (AAVE) climbed more than 17% to above $175 on September 29.
  • AAVE broke through the $150-$155 region after rising from below $90 in mid-August.
  • Aave’s proposal recommended increasing USDe borrowing rates from 6.3% to 6.6%.

Aave (AAVE) climbed more than 17% on September 29, rising from around $149 to above $175 and surpassing its September highs near $155. The token had advanced from below $90 in mid-August through $120, $140 and $150 before breaking the $150-$155 resistance zone. AAVE may test $180, while that former ceiling is now the key support area to watch in any pullback. The move came as 10-year U.S. Treasury yields rose above 5%, reaching levels not seen since 2007 and increasing competition for DeFi capital. A September 28 Aave risk proposal recommended raising the USDe borrowing rate from 6.3% to 6.6%, although the report found no clear evidence that the routine adjustment drove the rally. An earlier snapshot had placed AAVE at $156 after a 4.17% one-hour gain, with a market capitalization of about $2.3 billion and a rank of 47th.

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