Aave hits record $288 high as demand for flash loans and staking increases

Aave (AAVE) price has been on an absolute tear for weeks and today the DeFi-token rallied to a new all-time high at $288.90.

The decentralized finance protocol is one of the most popular in the market and the recent rally in the DeFi sector is one of the driving forces behind AAVE’s rally.

AAVE/USDT 4-hour chart. Source: TradingView
Total value locked on AAVE. Source: DeFi Pulse
AAVE price vs. Reported trading volume. Source: TheTIE
Total flash loan issuance to date on AAVE. Source: Messari