Aave Achieves $73.2 Billion Deposits Amidst DeFi Market Surge

Aave Sets New Record in Deposits and TVL

Decentralized lending platform Aave has reached a new milestone with $73.2 billion in net deposits.
Founder Stan Kulechov declared that "DeFi will win," reflecting positive sentiment in the DeFi sector.
Aave's Total Value Locked (TVL) increased from $31 billion to $41.85 billion in the past month, surpassing Lido, which has $39.58 billion in TVL.
The overall DeFi market exceeded $160 billion, with Ethereum [ETH](https://holder.io/coins/eth/) at $94.5 billion and Solana [SOL](https://holder.io/coins/sol/) at $12.7 billion.
Capital inflow into major DeFi protocols suggests increasing investor interest beyond Bitcoin [BTC](https://holder.io/coins/btc/) and Ethereum.

AAVE Token Faces Short-Term Price Pressure

AAVE token is trading near $298, down 4.5% in the last 24 hours, despite positive developments in the platform’s metrics.
The token recently faced resistance around its 30-day simple moving average of $312.
The current price level aligns with the 78.6% Fibonacci retracement level, acting as crucial support.
A break below this could lead to a pullback toward $276, while defending the $298-$305 range is critical for bulls.
Despite short-term challenges, AAVE's market cap has more than doubled over the past year.