Aave Token Surges Above $100 Amid Regulatory Hopes and Governance Catalysts

Aave's token has broken above $100 after a nearly 12% gain in the past week, leaving it at a technical crossroads.

The decentralised finance token was trading near $100.52 as of writing, up 8.7% over 24 hours and 11.8% across seven days, according to CoinGecko data.

This move follows several days of uneven trading between roughly $91 and $98, with Aave falling towards $91 on July 25 and 26 before recovering sharply.

The token's advance has been attributed in part to regulatory expectations, with Aave founder Stani Kulechov stating that the protocol's team had spent much of the past year meeting lawmakers in Washington, D.C., over the Digital Asset Market Clarity Act.