AAVE Price Surges 8% as Whale Activity Spikes: Can Token Break $200?

AAVE's price surged by 8% as whale activity increased significantly. The token climbed to $185.62, pushing into a critical breakout zone and bringing the $200 level within reach.

The Santiment data shows that whale transactions above $100,000 have spiked, while Mean Coin Age continues to rise and 30-day MVRV has recovered with price. This indicates strong buying pressure from large holders, which is driving the token's rally.

On-chain data also reveals that AAVE's protocol activity is expanding rapidly, with V4 surpassing $1 billion in deposits during September. The protocol has also expanded to new markets, including Arc and Base, allowing users to deposit seven Coinbase-tokenized U.S. technology stocks as collateral for USDC borrowing.

The next move will be crucial, as AAVE's price approaches major resistance at the $200 level. A decisive daily breakout above this level could open the path towards new highs, while sustained rejection could bring profit-taking into focus.