Aave gains 18% weekly amid ecosystem growth, stablecoin dominance

Key Points

1. Aave's price increased by 6% on July 11, reaching a daily high of $317.58, with an 18% growth over the previous week.

2. Aave now controls 5% of all stablecoin circulating supply in lending, surpassing all CeFi lenders combined.

3. The supply of Aave on exchanges dropped to 2.9 million, the lowest level since February 2021, indicating reduced selling pressure.

4. Aave's Total Value Locked (TVL) reached $28.9 billion in July, up from $25 billion in June, surpassing previous highs.

5. The project is expanding its AHAB program with $1 million in stablecoins to further boost stablecoin adoption.