DeFi Token AAVE rose 12% with total value in excess of $ 9.5 billion

With the overall cryptocurrency market up 5% today, it's time to take a look at some of the best performing DeFi tokens right now. The DeFi AAVE token is now up 12% to near $ 500 and its all-time high of $ 550, according to data from Messari. At press time, AAVE is trading at $ 483. 6.0 billion dollars. Additionally, Total Locked Value (TVL) in AAVE exceeded $ 9.5 billion for the first time. AAVE TVL has increased 5% in the last 24 hours and more than 50% since April 26, according to data on DeFi Pulse. Currently, AAVE alone contributes 14% of the total TVL of the DeFi market. Courtesy: DeFi Pulse During the DeFi market rally in 2021, the AAVE performed very well. AAVE price has increased by more than 400% since the beginning of the year. The sharp increase in AAVE transactions is also coming as part of the launch of the Polygon sidechain on Ethereum. Boosting AAVE Transactions with the Launch of Polygon Last week's launch of the Ethereum sidechain Polygon gave a huge boost to the adoption of the DeFi AAVE liquidity protocol. According to Dapp Radar's current data, the AAVE transaction volume has increased by 24% in the last 24 hours to reach $ 58 million. If we look at the AAVE statistics below, the number of users in AAVE has increased by almost 100% in the last seven days. On the other hand, the trading volume increased by 500% to $ 798 million on the 7-day chart. Courtesy: Dapp Radar Also, the total number of transactions over the last seven days increased by 150% to over 43,000 transactions. DeFi implementations on Polygon are currently booming as they offer a cheaper alternative to rising ETH gas charges. In addition to offering higher efficiency and lower gas costs, Polygon is also interested in infrastructure development and scaling on Ethereum. The DeFi Token AAVE post hung 12% with a total value of over $ 9.5 billion originally appearing on Coingape.

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