AAVE Leads Top 40 Cryptocurrencies With 19% Surge in One Day — Here's What's Driving It

AAVE token surged 19% to $355 following its expansion to Aptos blockchain and Federal Reserve Chair Jerome Powell's dovish remarks about potential interest rate cuts.

AAVE, the governance token of a leading decentralized finance protocol that enables cryptocurrency lending and borrowing, reached new highs as investors responded positively to multiple catalysts. The protocol's first deployment outside Ethereum-compatible blockchains marked a significant milestone, while Powell's Jackson Hole speech signaled upcoming monetary policy shifts that typically benefit risk assets like cryptocurrencies.

• Aave V3 launched on Aptos blockchain with a completely rewritten codebase in Move language, supported by extensive security audits and a $500,000 bug bounty program
• Powell's dovish speech increased expectations for September interest rate cuts from 75% to 83%, boosting crypto markets broadly
• The protocol may benefit from exposure to World Liberty Financial's governance token, potentially receiving 7% of WLFI's total supply
• AAVE leads the top 40 cryptocurrencies in daily percentage gains as decentralized finance protocols attract renewed investor interest