Aave, the cryptocurrency ranked 48th on the CoinMarketCap scale, running on AAVE protocol, is seeing massive network growth activity, according to data shared recently by Santiment analytics firm.
Aave is a decentralized finance platform that provides users the opportunity to borrow and lend digital currencies.
A recent tweet by this data aggregator says that the amount of newly created wallets and a sharp rise in wallet activity could be indicative of an asset's price increase coming to users.
At the moment, according to the tweet, these two indexes are reaching milestones that have not been seen since the middle of July.
Roughly a week ago, AAVE gained momentum after support for it was added by Robinhood brokerage giant, along with Tezos (XTZ). That news pushed the coin's price up 5%. A few days after that, the platform enabled payments in XLM, AAVE and XTZ.
At press time, AAVE is changing hands at $82.28, per data shared by CoinMarketCap. It shows a drop of slighly 3% over the past 24 hours.