Aave's AAVE token has posted a 3.07% gain over the past 24 hours, climbing to $74.39 according to data analyzed on July 22, 2023. Aave has outperformed a still tentative broader crypto market with this price uptick. Here are the key insights from the data:

• With a market cap of $1.08 billion, Aave remains one of the top decentralized finance (DeFi) protocols by valuation.
• $75.32 million in 24-hour trade volume indicates ongoing liquidity for AAVE, though the -0.65% 1-hour volume change points to potential short-term weakness.
• Aave's price rise contrasts with a -7.88% 7-day decline, signaling the asset's recent divergence from lackluster crypto trends. The 1-month gain of 38.46% is particularly eye-catching.
• However, AAVE still shows a -11.96% loss over the past 6 months, suggesting the potential for pullbacks after the latest rally.

Has Aave Established Itself as a Leading DeFi Lending Protocol?

Aave's ability to post gains amid recent crypto uncertainty appears linked to its standing as a blue-chip DeFi protocol for lending and borrowing. User growth and protocol upgrades have cemented Aave's market-leading position in decentralized lending.

As demand expands for trustless crypto lending services beyond centralized companies, Aave's protocol strengths and first-mover advantage should continue driving adoption. This helps explain investors' continued confidence despite high volatility across crypto markets.

Can Aave Make a Run Toward Its 2021 Highs?

Based on its fundamental traction and recent price momentum, Aave looks viable to make a potential move back toward its all-time high near $666 set in 2021. However, Aave faces no shortage of competition across the dynamic DeFi landscape.

Sustaining user growth and maintaining high liquidity levels will be key to justifying substantial multiple expansion for AAVE. Continued innovation and new feature launches could provide upside catalysts. But prudent crypto investors will want to watch for usage metrics confirming Aave's leading platform position.

Overall, Aave shows promise but needs to deliver on its technical roadmap and DeFi lending vision to transform short-term momentum into a sustained new high.