In brief
- Aave’s token surged 20% as Congress advanced the GENIUS Act, a bill that could bring regulatory clarity to stablecoins.
- The protocol, which supports lending and borrowing of major stablecoins, recently surpassed $25B in Total Value Locked.
- AAVE is up over 90% in 30 days, outperforming major altcoins and the broader crypto market.
The native token of DeFi lending protocol Aave has surged by double-digit gains on the day, rallying alongside a key procedural vote in Congress on the long-anticipated GENIUS Act.
If enacted, the bill would provide long-awaited regulatory clarity for stablecoins—a sector in which Aave is deeply embedded.
Specifically, the act would allow banks and other companies to issue their own stablecoins provided they meet certain requirements, adding to further speculation it could bring about wider institutional adoption.
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Author: Will McCurdy
