Bitcoin Steadies at $60K as Aave and Solana Ecosystem Fuel Market Rally

A spike in tokenized stock trading injected new momentum into the Solana ecosystem, while Aave’s founder hinted at future token buybacks under an updated framework.

Bitcoin (BTC) steadied around $60,000 on Friday after a week of selling pressure, though the strongest gains came from DeFi tokens and Solana-linked assets.

Aave’s token (AAVE) led the rally, climbing 19% in the past 24 hours. The move followed reports that crypto exchange Kraken is considering a strategic investment in the protocol, potentially acquiring a 15% stake at a $385 million valuation.

Founder Stani Kulechov rejected claims that Aave assets could be sold at a discount, stressing that all protocol revenue — currently estimated at $134 million annually — is directed to the Aave DAO, benefiting token holders under the newly introduced “Aave Will Win” framework.

He also pointed to an upcoming upgrade, “Aavenomics 3.0,” which is expected to introduce an automated buyback mechanism.

Meanwhile, Solana (SOL) and its broader ecosystem outperformed, with SOL rising nearly 10% on the day.

Trading in tokenized equities continued to accelerate, surpassing $2.5 billion in weekly volume — roughly ten times higher than a month ago, according to RWA.xyz. This surge has given Solana more than 80% share of tokenized stock trading across blockchains.

The increase in activity lifted several Solana-based DeFi tokens, particularly those tied to trading infrastructure.

Jito (JTO), which powers the network’s largest liquid staking protocol and recently launched a trading platform, surged 30%. Tokens tied to decentralized exchanges Raydium (RAY) and Meteora (MET) rose about 7%, while lending and liquidity protocol Kamino Finance (KMNO) gained 9%.