Aave [$AAVE] is no longer just growing through deposits and lending activity; they‘re also also building new revenue streams. With the launch of Aave’s Global Dollar Hub and a rise in user activity, the project is picking up steam again.
Aave DAOs swap revenue crosses $1 million!
Aave DAOs swap revenue has crossed $1 million since the launch of Aave Will Win. The cumulative expected partner fees has risen from April, with a jump around early June and sustained growth throughout the month.
Source: X
Most of this revenue has been coming from Ethereum [ETH], while Arbitrum [ARB] and a few other chains have added smaller contributions too. Interestingly, this gives Aave another income stream beyond its usual AUM-based fees from lending markets.
With more features planned – including leverage tools, transaction builder support, and V4 support in Aave Pro – this revenue base could keep growing.
New wallet growth outlasts $AAVEs price
Beyond this, Aaves on-chain activity jumped too. Around the launch of its V4 Global Dollar Hub, $AAVEs price moved from nearly $72 to about $95, before falling back towards $85.
Source: Santiment
However, what stands out is that user growth did not fade with the price. New $AAVE addresses reached 1,806 on 30th of June, far above the usual spring pace of around 200 per day.
New address growth was also well above baseline throughout this week. In fact, active addresses were above 2,200 and at 3,144 at their highest.
$AAVE holds above pullback zone
Heres a bit of balance to this story. After the move towards the $95-$100 area, $AAVE fell back below $90 on the charts.
Source: TradingView
However, the token has not fully lost its pace either. It was trading at around $87 at press time, with a small recovery attempt.
The RSI was at 58, so the rally was no longer overheated. There seemed to be some strength left still. The CMF was also positive at 0.10, indicating some buying interest.
Final Summary
- Aave DAO crossed $1 million in swap revenue, adding a new income mode.
- $AAVEs price hit the brakes on the charts, but new addresses hit 1,806 too.