AAVE’s Price Surge to $113 Follows Whale Accumulation and Protocol Loan Activity

AAVE traded as low as $87 this week, then surged to $113 — a 31% rebound from its weekly low. The jump follows rising on-chain activity flagged by Nansen, including accumulation by two large whale addresses on April 15. Whale buying often precedes momentum shifts, and this time, price responded in kind. The Relative Strength Index (RSI) also surged to levels last seen near August 2025’s peak, reinforcing evidence of strong accumulation.

But the price move wasn’t driven purely by speculation. Underlying demand is reawakening on the Aave protocol itself. Active loans had fallen from $30.15 billion in mid-September to $16.26 billion, but have since climbed back to $17.5 billion. That uptick signals renewed borrowing activity — a key revenue driver for the protocol. More tellingly, the number of asset holders has tripled from fewer than 9,000 in January last year to over 30,000 today. That expanding user base strengthens the case for organic demand.

With both whale interest and protocol fundamentals improving, AAVE may be positioned to突破 consolidation resistance and retest key levels at $180 and $200.