Home
News
- AAVE protocol is maintaining a price range of $268.31 as per CoinMarketCap.
- AAVE is now among the top 30 Altcoins
- Has a market capitalization of $4.2 billion.
Aave protocol-HODLers rule the roost
AAVE has 80% of its circulating supply, and it has over 25% profitable HODLers at the said price levels. The altcoin is said to have a high concentration of HODLers in the range of 87%, and they have been a big cause for the surge in AAVE’s value. A majority of the HODLers have bought and held AAVE for less than a year, and it is a perfect example of high short-term ROI.
Aave protocol symbolize both the long and short-term bullish narratives.
The number of transactions on the AAVE network has surged, hitting $555 million in the past week. AAVE has come to symbolize both the long and short-term bullish narratives. The Polygon DEFi is basking in the summer glory and has raked in $85 million in liquidations rewards for Aave’s Polygon Markets. Since 30,000 AAVE’s investors have over $7.5 billion worth in value on Polygon, making it one of the largest worked liquidations protocol on Polygon.
AAVE dominence in Decentralized Finance continues
AAVE’s supremacy in Decentralized Finance continues to remain above 15%. Among the lending protocols, the DeFi protocol remains the largest in the category despite its TVL falling steeply in recent times.
$85 million is on offer on AAVE for traders
More than $85 million is on offer on AAVE for traders, which has swelled the numbers of interested traders and investors. Compared to Ethereum’s deep liquidity markets for top DeFi projects, projects like DeFi legos built on top of AAVE Polygon are quicker, more economical, and complementary. It further strengthens the bullish narrative for AAVE since DeFi’s need for deep liquidity is large.
The past week has seen a drop in social media mentions and social volume for AAVE. A fall in social volume is usually related to a surge in prices. Hence, AAVR will rally soon and offer high returns in 2021, relative to other DeFi projects.
AAVE offer higher returns in a short time
ETH L2 scaling solutions are unlikely to provide much competition in terms of trade volume and trader interest because AAVE’s rewards and partnerships offer higher returns in a short time, leading to higher investment inflows and a price rally.
AAve Protocol is a decentralized protocol dealing in borrowing and lending in much the same way as money markets in traditional finance. Stani Kulechov founded aAve. AAve protocol enables the investor to deposit digital assets into liquidity pools. The digital assets accrue interest in real-time in the form of Tokens. AAve also revolutionized the concept of Flash loans. Flash loans are short-term loan mechanism that requires no collateral. The AAVE is governed in a decentralized pattern by AAVE token holders who ensure collateralized liquidity.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
