Aave, Solana Tokens Lead Crypto Rebound as Bitcoin Holds Near $60K

Bitcoin (BTC) stabilized around the $60,000 level on Friday following a sharp selloff earlier in the week, while decentralized finance (DeFi) tokens and the Solana ecosystem delivered the strongest gains across the cryptocurrency market.

Aave (AAVE), the native token of the leading DeFi lending protocol, surged about 19% over the past 24 hours after reports emerged that crypto exchange Kraken is exploring a strategic investment related to the protocol. According to CoinDesk, the proposed deal involves acquiring a 15% stake at a valuation of approximately $385 million.

Aave founder Stani Kulechov responded to the report on X, rejecting suggestions that Aave-related assets would be sold at a steep discount. He emphasized that the protocol remains financially strong, noting that its annualized revenue has reached roughly $134 million. Kulechov added that all protocol revenue is directed to the Aave decentralized autonomous organization (DAO), ultimately benefiting AAVE token holders under the recently introduced "Aave Will Win" governance framework.

He also previewed "Aavenomics 3.0," the next evolution of Aave's tokenomics, which is expected to introduce an automated token buyback mechanism designed to strengthen long-term value for holders.

Meanwhile, Solana (SOL) outperformed many major cryptocurrencies, rising nearly 10% as activity surrounding tokenized stocks accelerated. Data from RWA.xyz showed that tokenized stock trading volume surpassed $2.5 billion this week, representing a tenfold increase compared with a month ago. Solana accounted for more than 80% of all tokenized equity trading across blockchain networks, reinforcing its growing role in the real-world asset (RWA) sector.

The increased network activity also fueled gains among Solana-based DeFi projects. Jito (JTO), the network's largest liquid staking protocol and a provider of validator infrastructure, jumped roughly 30% after expanding its trading services. Decentralized exchange tokens Raydium (RAY) and Meteora (MET) climbed around 7%, while lending and liquidity platform Kamino Finance (KMNO) advanced approximately 9%.

The latest rally highlights renewed investor interest in DeFi protocols and Solana-based applications as Bitcoin steadies near the psychologically important $60,000 level, with market participants closely watching whether the broader cryptocurrency market can sustain its recovery.