Aave (AAVE) is no longer growing solely through deposits and lending activities; they also create new sources of income. With the launch of Aave’s Global Dollar Hub and increased user activity, the project is gaining momentum again.
Aave DAO swap revenue exceeds $1 million!
Aave DAO’s swap revenue has exceeded $1 million since the launch of Aave Will Win. Expected cumulative partner fees increased compared to April, with a jump towards the beginning of June and continued growth throughout the month.
Most of this revenue comes from Ethereum (ETH), while Arbitrum (ARB) and a few other chains have also added smaller contributions. Interestingly, this gives Aave another source of revenue beyond its usual fees based on assets under management in the lending markets.
With more features planned – including leverage tools, trade builder support, and V4 support in Aave Pro – this revenue base could continue to grow.
New portfolio growth lasts longer than AAVE price
Beyond that, Aave’s on-chain activity has also surged. Around the launch of its V4 Global Dollar Hub, the price of AAVE rose from near $72 to around $95, before falling back toward $85.
However, what stands out is that user growth has not diminished with price. On June 30, new AAVE addresses reached 1,806, well above the usual spring pace of around 200 per day.
New address growth was also well above baseline throughout this week. In fact, active addresses were above 2,200 and 3,144 at the highest.
AAVE holds above the withdrawal zone
Here’s some balance to this story. After the move towards the $95-$100 zone, AAVE fell back below $90 on the charts.
However, the token has not completely lost its momentum either. At press time, it was trading at around $87, with a small attempt at recovery.
The RSI was at 58, so the rally was no longer overheated. It seemed he still had some strength left. The CMF was also positive at 0.10, indicating some buying interest.
Final summary
- Aave DAO surpassed $1 million in swap revenue, adding a new revenue mode.
- AAVE price held back the charts, but new addresses also reached 1,806.
