Aave’s TVL has historically responded positively to meaningful upgrades and ecosystem expansion, and its ability to attract liquidity across multiple blockchains suggests that users are willing to commit assets to the protocol long term — robust TVL growth generally correlates with ongoing demand and can underpin strong investment sentiment.
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A different perspective uses token distribution and holder behavior. On-chain data can reveal concentration among top holders, token velocity, and long-term holding patterns. Using Dune, analysts can monitor how often tokens move, whether insiders are selling, and how supply is distributed, which helps evaluate governance risk and potential sell pressure that may not be visible from price alone.
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Chainlink’s position is strong, but its dominance is being tested. New oracle networks are gaining adoption by offering tailored solutions. These competitors don’t aim to replace Chainlink universally, but to outperform it in certain contexts. This signals a healthier and more competitive oracle ecosystem overall.
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