Decentralized financial lender Aave’s governance token stood out as one of the best performers over the weekend as crypto assets rebounded from Friday’s lows.
The advanced token rose more than 10% on Monday to briefly surpass $230, trailing only the native oracle network token Chainlink. among members of the CoinDesk 20 index.
AAVE trimmed its gains amid short-term profit-taking that emerged later in Monday’s session, consolidating above $225, CoinDesk Research’s analysis model noted.
Price action aside, Aave is gaining momentum in the fast-growing tokenized asset lending market. Grove, an on-chain capital allocator closely related to Sky (SKY), unveiled plans to supply and the circle stablecoins to Horizon, Aave’s new institutional lending marketplace where qualified borrowers post real-world tokenized assets as collateral for loans.
The integration, pending governance approval, could deepen the liquidity of institutions that borrow from assets such as US Treasury tokens. Horizon now supports collateral from issuers such as Superstate and Centrifuge, with Chainlink providing valuation data and third-party risk assessments from Llama Risk and Chaos Labs.
If approved, Grove’s contribution could help convert tokenized assets into real working capital.
Technical indicators:
- Bullish momentum remains despite pullback from highs as the token maintains bullish trend above key support.
- Multiple failed attempts above $231.00 highlight the persistent overall resistance.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
