Aave Hits $60 Billion Net Deposits Amid Mixed Price and Trading Trends

Aave (AAVE) continues to trade near the $265 level despite broader market volatility, marking a key on-chain milestone as the protocol crosses $60 billion in net deposits, making it the first decentralized finance project to achieve this figure [1]. The net deposit metric reflects the difference between assets supplied and borrowed on the platform, signaling robust user inflows and confidence in the protocol. Stani Kulechov, Aave’s founder, highlighted this development as evidence of increasing adoption in the DeFi space [1].

The price of AAVE is currently up 3% in a single day but has fallen 6% over the last 30 days, in line with broader market trends [1]. On-chain metrics show continued growth, with DeFiLlama reporting a 45% increase in Aave’s total value locked (TVL), rising from $24 billion to $34.9 billion in the past month. Simultaneously, network fees climbed from $48 million in June to $65 million in July, underscoring deeper usage and borrower activity [1].

On the development front, Aave released its V3 developer toolkit on Aug. 6, aimed at improving protocol integration for developers. The toolkit includes React hooks, SDKs, and APIs to facilitate the deployment of lending vaults with customizable risk parameters [1]. This update enhances modular borrowing and yield generation strategies, potentially expanding the platform’s utility and appeal.

Despite these positive on-chain indicators, trading activity remains subdued. Coinglass data shows a 13% decline in Aave’s 24-hour spot volume to $297 million, while derivatives volume dropped 19.3% to $503.6 million [1]. Open interest, however, increased by 4.1% to $561.9 million, suggesting that leveraged positions are building ahead of a potential price movement.

From a technical standpoint, Aave appears to be consolidating near key support levels. The MACD is bearish at -9.31, and the RSI is neutral at 43.3 [1]. Longer-term moving averages such as the 100- and 200-day SMAs remain in buy zones, but shorter-term averages like the 20-, 30-, and 50-day EMAs emit sell signals. The Stochastic RSI and awesome oscillator remain neutral, though momentum is beginning to show bullish tendencies. A decisive move above $280 would confirm a breakout past the 20-day EMA and potentially test the $310–$315 resistance zone. Conversely, a breakdown below the $250–$255 range could lead to a retest of the June lows near $230 [1].

A drop below the lower Bollinger Band accompanied by rising sell-side volume could accelerate downward pressure, adding further volatility to the already cautious market environment [1].

Source: [1] Aave Net Deposits Cross $60B – Is Aave Price Breakout Next? (https://crypto.news/aave-net-deposits-cross-60b-aave-price-breakout-2025/)