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The number of Aave holders has been decreasing over the past week while the token emerges as the top gainer in the mentioned timeframe. 
Aave is up by 5% in the past 24 hours and is trading at $102.2 at the time of writing — a level last seen in late May. 
The asset gained 25.3% over the last seven days as the crypto market gained upward momentum. Its market cap currently stands at $1.52 billion, making it the 53rd-largest cryptocurrency. 
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 Aave price, RSI, open interest and amount of holders – July 14 | Source: Santiment
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<h3 class="wp-block-heading" id="aave-rsi">Aave RSI </h3> 
The asset’s price rally comes as the <a href="https://crypto.news/learn/crypto-lending-defi/">lending</a> decentralized finance (<a href="https://crypto.news/learn/defi-risks-explained/">defi</a>) protocol’s TVL <a href="https://defillama.com/protocol/aave#information" target="_blank" rel="">increased</a> by 7.5% over the past week, reaching $12.3 billion. 
Defi Llama’s data shows that the platform accumulated $5.38 million in fees and generated over $862,600 in revenue in the same timeframe. 
 You might also like: <a href="https://crypto.news/meme-coins-bounce-back-shiba-inu-leads-market-surge-with-6-4-gain/"> Meme coins bounce back: Shiba Inu leads market surge with 6.4% gain </a> 
Per Santiment, the total number of Aave holders decreased from 168,340 to 167,900 unique addresses in the past seven days.&nbsp; 
On the other hand, data from the market intelligence platform shows that the Aave total open interest rallied from $31 million on July 7 to $55 million at the reporting time. At this point, high price volatility would be expected for the asset due to potential whale movements and increased liquidations.&nbsp; 
Meanwhile, the <a href="https://crypto.news/aptos-foundation-proposes-deploying-aave-v3-on-aptos-mainnet/">Aave</a> Relative Strength Index (RSI) has been consistently rising over the past week — surging from 38 to 63. The indicator shows that the token is slightly overbought and short-term profit-taking is normal in these conditions.&nbsp; 
For Aave to remain in the bullish zone, its RSI would need to cool down below the 50 mark. 
 Read more: <a href="https://crypto.news/bitcoin-etfs-renewed-interest-inflows-surpass-310m/"> Record inflows for Bitcoin ETFs as market sees renewed interest </a>

Aave rallies 25% in 7 days, 5% in past 24 hours despite fewer holders

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