AAVE price rallied for eight straight days, reaching its highest level since June 6th. It has jumped by over 45% from its lowest point this month. 

AAVE token rallied as optimism returned to the crypto market after the recent sell-off. Notably, Bitcoin has traded above $62,000 for the first time since July 1st. Its rebound has resulted in a poisitive sentiment for most altcoins. But in Aave’s case, the coin also rallied because of increasing whale activity in the network.

A report by Lookonchain noted that a whale bought AAVE tokens worth $3 million last week. A look at his address shows that he has over 142k tokens worth over $14 million. 

Meanwhile, ecosystem data shows that Aave is doing well. According to DeFi Llama, the network has over $12 billion locked in its …