AAVE is up 56% from June lows, DAO expects more revenue in H2 2023
AAVE, the native currency of Aave, a multi-chain decentralized money market, is firm, price action on July 12 reveals. The token is up 56% from June 2023 lows and continues to extend gains, shaking off weakness after the notable price pump in late June 2023. AAVE prices are solid because of improving trader sentiment in the crypto market and bullish steps taken by the Aave DAO, a decentralized autonomous organization (DAO) governing the multi-protocol Aave lending protocol. The rejection of lower lows by bitcoin (BTC) has been bullish for altcoins, including decentralized finance (DeFi) tokens like AAVE. Deployment of GHO stablecoin on Ethereum Beyond this, strategic steps, as mentioned above, have helped strengthen AAVE, providing the necessary tailwinds for bulls. Presently, the Aave community is voting on a proposal to approve the deployment of GHO on the Ethereum mainnet. Currently, over 99% of the community supports its implementations. Yo...