Aave experienced its strongest growth in new addresses in recent years on June 30. According to on-chain data firm Santiment, the protocol added 1,806 new wallet addresses on Ethereum that day, marking the highest single-day total since October 2021.
This change comes as the broader crypto market remains weak. AAVE traded at approximately $86.20 on Tuesday, down about 2.4% over the past 24 hours, in line with the market’s overall decline. However, for the week, AAVE still rose about 9%, making it one of the few major tokens to maintain upward momentum during this period.
New address creation has reached a multi-year high.
Network growth is commonly used to observe how many new addresses begin holding or using a particular token. An increase in the number of addresses often indicates new participants entering the ecosystem, rather than just repeated trading among existing holders.
Santiment believes that such signals typically attract attention from traders at the beginning of the month. An increase in new wallets indicates growing market interest in the associated token, which may provide price support.
The locked-up value is approximately $12.2 billion.
As one of the leading decentralized lending protocols, Aave currently has a total value locked of approximately $12.2 billion. This capital primarily comes from users depositing funds into the protocol to earn yield or using them as collateral for borrowing.
Interest in Aave has also been driven by expectations of its version upgrade and a renewed focus on revenue generation. As these expectations grow, Aave has once again become a focal project within the DeFi sector.
- New wallets added on June 30: 1,806
- Current total locked value: approximately $12.2 billion
- AAVE's recent one-week price increase: approximately 9%
Can DeFi's popularity translate into real usage?
The report mentioned that Standard Chartered Bank projected in June that AAVE could rise to $3,500 by 2030, partly due to its potential to benefit from the growth of tokenized assets. This assessment has also reignited market interest in the DeFi sector.
However, the increase in new addresses alone only indicates rising interest and cannot directly represent increased user commitment. What’s more important to monitor next is whether these new addresses will translate into actual deposits, loans, and protocol revenue.
If on-chain participation continues to deepen, Aave's upward foundation will become more solid. If new addresses quickly decline, this rally is more likely to be seen as a concentrated release of short-term speculative interest.