Aave is a robust DeFi protocol ranked 11 in the list of top DeFi tokens by market capitalization, according to CoinMarketCap as of 4 April 2022. Although the token has not shown gains YTD, its monthly performance is bullish, driven by the launch of Aave V3 update.
Depositors provide liquidity to the market to earn a passive income, while borrowers can borrow cryptocurrencies in exchange for paying a variable interest rate. Lenders get paid at a certain interest and those who borrow pay interests on the crypto coins. However, if you want to trade, you need to know what the market says.
Today’s live Aave price is $80.06 USD with a 24-hour trading volume of $461,698,209 USD. Aave is down 8.91% in the last 24 hours. The current CoinMarketCap ranking is #51, with a live market cap of $1,098,054,440 USD. It has a circulating supply of 13,715,305 AAVE coins and a max. supply of 16,000,000 AAVE coins.
Let’s take a closer look at AAVE and determine whether it should be part of our crypto portfolio.
Aave is simply an Ethereum-based money market where users can borrow and lend various digital assets, from stablecoins to altcoins. Aave (AAVE) is also the native cryptocurrency of the Aave platform: a decentralized finance (DeFi) platform where users can borrow a range of cryptocurrencies and lend assets in exchange for interest payments, all without needing an intermediary.
Decentralized lending system
Users of AAVE now require a traditional financial institution to manage their money. They need to trust the code used to write the program, and they won’t be disappointed. If you’re wondering about AAVE, it’s an acronym for African American Vernacular English. No matter, know that among several emerging DeFi cryptocurrencies, Aave is a decentralized lending system that allows users to lend, borrow and earn interest on crypto assets, all without intermediaries.
The AAVE software allows a lending pool capable of lending or borrowing up to 17 different crypto coins, some of which include ETH, BAT, and MANA. And just like other DeFi systems, if you want to borrow AAVE, you need first to deposit collateral. The equivalent of whatever you post is what will be given to you as a loan. The borrower then collects the funds as a unique token called aToken. The aToken is assigned the worth of another asset and then encoded so that lenders receive interests when they deposit.
5th highest TVL
Aave, along with the likes of Uniswap (UNI), Compound (COMP) and Curve, is considered one of Ethereum’s blue-chip DeFi protocols. Aave is also deployed on layer-1 network Avalanche (AVAX) and Ethereum’s layer 2 protocol Polygon (MATIC).
According to DeFi total value locked (TVL) aggregator DefiiLlama, the Aave protocol has the fifth highest TVL across all blockchain at $14.3bn, as of 4 April. Aave protocol is currently the top DeFi platform in terms of TVL on Avalanche and Polygon.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
||AAVE||$ 60.81||$ 838.75 M||4.86%||13.89 M||$ 303.36 M|
Source: Bing images
AAVE was developed by Stani Kulechov in 2017. Stani hails from Finland, and he is a programmer and an entrepreneur. He started the AAVE cryptocurrency. He is majorly into cryptocurrency, blockchain, and fintech.
He graduated with a Law Master’s degree in 2018. He graduated from the University of Helsinki. While at the university, he worked as a Trainee at a Law Firm named Castrén and Snellman between January and May 2017. He was still a trainee between August and November of the same year at Bird and Bird. He then became a Member of the Legal Aid Committee of the Law Students Association of Pykäläry.
While he was at the university for his Master’s, finance struck his interest, becoming involved with FinTech. The concepts of smart contracts and Ethereum blockchain became appealing to him, and he was motivated to develop a decentralized financial system.
AAVE’s Price History
ETHLend started in 2017 as a peer-to-peer digital asset lending and borrowing platform. It generated $16.2 million during an initial coin offering (ICO). During the same ICO that 1 billion units of LEND coins were sold, with 300 million reserved for the AAVE team.
ETHLend was given a new name in 2018, AAVE, with ETHLend becoming a subsidiary. Note that AAVE means ghost in Finnish. In January 2020, the protocol officially went live on the Ethereum mainnet. By August of the same year, the AAVE token rose to be the second DeFi protocol to get to $1billion in total value locked, with MakerDao being the first.
In the same month (August), AAVE was awarded an EMI (Electronic Money Institution) license by the FCA, which saw LEND rapidly rise by 30% to a new ATH at the time. Around the same time, a second version of the AAVE protocol was announced and was released on 3 December of the same year. Other features were reported simultaneously, involving a trading desk, a game studio, and a payment system.
Aave’s proposal to upgrade its protocol was passed unanimously by its community. Following Aave v3’s mainnet launch on 16 March, AAVE token surged as much as 114% to a near three-month high of $261.29 hit on 1 April 2022.
Where to buy AAVE?
Steps to Buy Aave
Step 1 – Open an Online Account. The 1st step to buying Aave begins with opening an account with an exchange that supports Aave. …
Step 2 – Buy a Wallet (Optional). After deciding where you want to purchase Aave and opening your account, you can open a wallet to store your tokens safely.
Step 3 – Make Your Purchase.
Crypto.com App users can now purchase AAVE at true cost with USD, EUR, GBP, and 20+ fiat currencies and spend it at over 60M merchants globally using the Crypto.com Visa Card.
Coinbase customers can now buy, sell, convert, send, receive, or store AAVE, in all Coinbase-supported regions, except for New York State. Same steps as on top.
Aave Technical Analysis
Aave performed well in April this year. Negative crypto market sentiment has forced Aave into bear market cycles. Aave prices consolidated at the beginning of June. Celsius crypto troubles would later affect the entire market. Celsius is currently reading in oversold territory. MACD histogram indicates increasing price momentum to the downside.
Aave Price Predictions 2022 – 2031
Wallet Investor uses artificial intelligence and machine learning to predict Aave price. The AI rates the Aave token past performance ‘C’. It also indicates that the Aave token is a bad one-year investment. Aave prices will be on a downward trend in the coming one week. The price is expected to fall from the current price to $57.112. Aave arc is currently extremely bearish. Aave token will sell at $3.699 in one year. 2024 return on investment (ROI) will be 71.486%, 2025 will be 62.314%, 2026 will be 39.444% and 2027 will be 41.4146%.
Trading beasts apply linear and polynomial regressions to the cryptocurrency market to predict crypto prices. Aave token price will be $83.499 in July. It will assume a bullish trend to the end of the year. In December Aave will sell at $86.107. The analysis indicates a bullish Aave price prediction from 2023 to 2025. In 2023 Aave tokens will trade at an average price of $87.385 in January and $112.846 in December. In 2024 Aave tokens will trade at an average price of $115.704 in January and $145.123 in December. In 2025 Aave tokens will trade at an average price of $147.606 in January and $171.573 in December.
This year Aave performed well only in January and April. The Aave price forecast indicates the price will rise to $90.20 in July and stagnate for the rest of the year. The bear market will end in 2023. Aave’s price will average at $89.71 in 2023. It will reach a high price of $95.55 and a low price of $79.88. Aave’s price will average at $119.80 in 2025. It will reach a high price of $132.25 and a low price of $104.4. Aave’s price will average at $280.43 in 2030. It will reach a high price of $287.76 and a low price of $267.31.
Aave coin Price Prediction 2022
Aave price prediction for 2022 is $95.47. The Aave ecosystem launched its lens protocol in June. The lens is a decentralized social media platform built on Polygon. Positive market sentiment pushed prices to about $118. The coin’s high volatility will drop in the second half of 2022. Aave value in the crypto market will reach a high price of $108.04 and a low price of $91.67.
Aave coin Price Prediction 2023
Aave price prediction for 2023 is 137.38. Decentralized finance is undeniably growing. The Celcius downtime in 2022 has been a learning opportunity for crypto lending and collateralization. Aave offers loans just like banks. Aave will reach a maximum price of $162.56 and a minimum price of $132.61.
Aave coin Price Prediction 2024
Aave price prediction for 2024 is $195.78. The upward trend will continue into 2024. Positive crypto market sentiment will be essential in maintaining Aaves’ momentum. The variable interest rates will affect how users borrow cryptocurrency. Aave bullish trend continues and will reach a maximum value of $265.04 and a minimum value of $188.91.
Aave coin Price Prediction 2025
Aave price prediction for 2025 is $290.02. Cryptocurrency regulations are crucial to the future of the crypto and blockchain industries. These will directly affect the Aave community. Crypto nerds are optimistic. Several countries already accept crypto as legal tender. Aave will reach a high price of $336.06 and a low price of $282.19.
Aave coin Price Prediction 2026
Aave price prediction for 2026 is $446.65. Aave acts as a governance token providing its users with the liberty to chart its path. Aave governance token will likely prompt a dedicated blockchain. Aave currently runs on Ethereum. This could lead to a significant increase in utility. Aave will trade between $490.76 and $435.05.
Aave Price Prediction 2027
Aave price prediction for 2027 is $661.72. Aave set its all-time high on 18 May 2021 at $666.86. The strong trend will break the record in 2027. The milestone will likely attract more investors and speculators to Aave. Aave will set new resistance and support levels. Aave will trade between $643.86 and $757.01.
Aave coin Price Prediction 2028
Aave price prediction for 2028 is $989.69. Aave coins price forecast indicates it will reach $1000 in 2028. This will be a milestone on Aave’s roadmap. The bullish trend will attract more investors. This will however depend on the current market status. Negative news and market crashes could push Aave into a bear market. Aave will sell for between $1123.46 and 956.60.
Aave coin Price Prediction 2029
Aave price prediction for 2029 is $1437.78. The adoption of a decentralized WEB3.0 will be a game-changer. By 2029, Aave will have garnered years of Defi experience. Oracles and Aave stacks will make it possible for financiers and developers to tap into the blockchain. Aave value in the crypto market will reach a high of $1674.06 and a low of $1388.30.
Aave coin Price Prediction 2030
Aave price prediction for 2030 is $2109.23. Aave’s future price will go up. At this price, the market capitalization of Aave will have more than doubled. This will be possible through more investments from mainstream finance. In 2030, Aave will sell between $2410.06 and $2051.72.
Aave token Price Prediction 2031
Aave price prediction for 2031 is $3094.83. Aave will have crossed the $3000 mark in 2031. At this price, it will be one of the top-tier cryptocurrencies. Positive market conditions will push Aave to a high price of $3586.83 and a low price of $3010.45.
Aave Price Predictions by Industry Influencers
Frank from Altcoin Buzz Youtube channel discusses Aave’s potential. He discusses Aave support levels and probable next price movement.
Aave has over $10B in locked assets in 13 markets. The total value locked is growing daily. Aave recently invested in Lens protocol. These investments into WEB3.0 will increase the utility of Aave. Lens protocol has utility in social media and NFTs.
The prices of Bitcoin and Ethereum are falling and bringing Altcoins down with it. This comes after speculators started backing away from cryptocurrencies due to the high risk involved. Aave has good utility and should recover to its former glory.
AAVE is a long-term bet with a stellar team and connections. Few projects are in DeFi and are as good/professional as AAVE. Unsurprisingly, AAVE is also the first large mover into institutional DeFi as they’ve cultivated those relationships starting in Europe.
Despite the fundamental growth, Aave lost about 80% of its value year to date. This sentiment has been shared by the entire cryptocurrency market. The next price bull run will be highly profitable to traders who buy today. Price predictions indicate Aave will begin recovering its losses in 2023. The coin will break its highest price record in 2027.
Negative news could however derail Aave’s performance.