AAVE Token Surges 4.68% Amid $51M Governance Proposal, V3 Launch, and Grayscale ETF Filing

AAVEUSDT has experienced increased volatility in the past 24 hours, with the price rising 4.68% from a 24h open of 114.22 to a current Binance price of 119.56. This price movement is primarily attributed to governance developments within the Aave protocol, including the announcement of a $51 million funding package proposal for Aave Labs and BGD Labs' exit from the Aave DAO, which have intensified community discussions and driven market activity. Additionally, the launch of Aave V3 on Mantle Network and Grayscale’s ETF filing have contributed to heightened interest and trading volume.

AAVEUSDT is trading within a range of 113.26 to 123.18, with a robust 24-hour trading volume estimated between $321 million and $460 million and a market capitalization around $1.88 billion. The token maintains a circulating supply of 15.33 million out of a maximum 16 million, and leverage concentration remains elevated around the 120.69 level.