Aave logs biggest network-growth day in nearly 5 years as DeFi interest returns

Markets Aave logs biggest network-growth day in nearly 5 years as DeFi interest returns The lending protocol added 1,806 new wallets in a single day, the most since October 2021, according to Santiment. The AAVE token has risen about 20% in a week even as the broader market slides. By Shaurya Malwa | Edited by Sheldon Reback Jul 1, 2026, 10:20 a.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on (CoinDesk) Summary Show Lending protocol Aave saw its strongest day of new-wallet creation on Ethereum since 2021 on June 30, adding 1,806 wallets even as the broader crypto market weakened. The AAVE token is up about 9% over the past week, and the protocol now holds roughly $12.2 billion in total value locked, helped by anticipation around a version upgrade and revenue-focused changes. Standard Chartered’s $3,500 price target for AAVE by 2030 and the recent wallet surge have revived interest in DeFi, though analysts warn that new addresses must translate into real usage to sustain the rally. Aave, one of the largest decentralized lending protocols by locked value, recorded its strongest day of new-wallet creation in almost five years on June 30, a sign of fresh interest in the AAVE token even as the wider crypto market weakens. The protocol added 1,806 new wallets on the Ethereum blockcain in 24 hours, its highest single-day total since October 2021, according to analytics firm Santiment . Network growth measures how many new addresses hold or use a token, and an increase points to new participants arriving rather than existing holders simply trading among themselves. AAVE has moved with that interest. It traded around $86.2 on Tuesday, down about 2.4% over 24 hours, in line with a broad market pullback. Still, it's gained roughly 9% over the past week, CoinDesk data show, one of the few major cryptocurrencies in the green over that stretch. The protocol holds about $12.2 billion in deposits, or total value locked, the sum users have supplied to earn yield or borrow against. Several threads are feeding the attention. Aave is rolling out the Ethereum version of its V4 upgrade, a rebuild of how the protocol handles lending, and has seen active governance debate over borrowing limits alongside a growing focus on protocol revenue through a mechanism it calls Smart Value Recapture, which routes value back to the system. Standard Chartered also published a long-term price outlook in June, forecasting a $3,500 level by 2030 if it capitalizes on the growing tokenized assets trend. The mix has drawn renewed notice to DeFi at a moment when most of the market has been falling. "For price, this is the kind of signal traders usually want to see as July begins," Santiment said. "New wallets showing up at this pace suggests interest is growing beneath the surface and supporting the price momentum." Whether that holds is the open question, as new wallets show attention, not commitment, and the number matters only if it converts into deposits, borrowing and the revenue that follows. Meanwhile, AAVE faces headwinds in the near term amid a tepid crypto market. Bitcoin BTC $ 58,687.00 , the largest cryptocurrency, is stuck below $60,000 and most large tokens fell in the first half. If the participation deepens into real usage, it gives AAVE a firmer base than a price bounce alone. If it fades with the market, the wallet spike will read as a burst of speculative interest rather than the start of a recovery. Aave Crypto Lending DeFi Related Assets Bitcoin $ 58,687.00 0.96 % Latest Crypto News 1 Bitcoin’s 20% June crash looks even deadlier on the charts. 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