DefiLlama Founder Clarifies Aave's TVL Data Integrity

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Apr 20 2026

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TVL Data Accuracy: DefiLlama founder 0xngmi asserts that Aave's total value locked (TVL) is not inflated by circular borrowing, as their methodology already excludes borrowed assets, ensuring data integrity and reliability.
Impact of Circular Borrowing: 0xngmi emphasizes that DefiLlama does not count borrowed assets in TVL, meaning that cycled lending does not inflate the data on their dashboards, alleviating market concerns regarding Aave's metrics.
Market Dynamics Shift: Aave's TVL surged by over 45% during certain periods, climbing from approximately $24 billion to $34.9 billion, indicating a significant increase in borrowing demand, while network fees rose from $48 million to $65 million.
Token Market Performance: The market capitalization of the AAVE token stands at around $1.45 billion, with a 24-hour trading volume near $666 million, and prices fluctuating between $89 and $94, as the market reassesses risks associated with complex looping trades.

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Technical Analysis for AAVE

Technical Sentiment Analysis for Aave (AAVE). As of , Aave (AAVE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AAVE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, AAVE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Aave (AAVE) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	73.646	78.098	82.716	87.168	91.786	96.238	100.856
Fibonacci	78.098	81.563	83.703	87.168	90.633	92.773	96.238

About AAVE

Aave is a decentralized finance protocol that allows people to lend and borrow crypto.Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity.Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but the rebranding to Aave happened in September 2018. (This helps explain why this token’s ticker is so different from its name!)AAVE provides holders with discounted fees on the platform, and it also serves as a governance token — giving owners a say in the future development of the protocol.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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