AAVE is a token of the Aave platform. It’s currently worth around $257.09 by the time of writing, was at $72.61 at the start of 2021, and has a market cap of 3 billion dollars.
What is Aave?
AAVE is a decentralized, peer-to-peer (P2P) crypto platform with no central issuing authority. Stani Kulechov founded it in 2018. It allows cross-border transactions between users without the need for an intermediary, such as a bank or payment gateway. Aave shares many similarities with Bitcoin and has significant design and technical implementation differences.
It is based on the Ethereum blockchain and enables peer-to-peer transactions with low fees compared to the current centralized systems. It aims to bring transparency and decentralization of trade through blockchain technology. Aave’s mission is to democratize blockchain technology by making it available to everyone. It solves all the problems using blockchain platforms like Ethereum by providing an easy-to-use interface.
What is an AAVE token?
$AAVE/USDT is the coin of the Aave platform, which is around $257.09 by the time of writing which was at $72.61 at the start of 2021. Its current ranking is #49 according to CoinMarketCap, with a market cap of 3 billion dollars.
It reached a high of $666.86 in 2021 with a low of $72.61. AAVE coin is built on the Ethereum blockchain. The creation of AAVE is to create a cryptocurrency that will stabilize its value and not depend on fiat currencies. AAVE can be used for payment across various platforms and offer many other services.
AAVE Coin Market Analysis
AAVE token has a max supply of 16,000,000 coins worth around $257.09 with a market volume of 631 million dollars, whereas the market capitalization is 3 billion dollars at writing.
AAVE Price Prediction
On the 1D timeframe, It has formed a Bullish harmonic Shark, where we can see that it has reversed from its potential reversal zone, and it has broken out the resistance zone. All the EMAs (indicators for market direction) are flipping out, and it doesn’t look like Bitcoin will move anytime soon. This could potentially mean a pump in other altcoins. Today’s daily closure will confirm out the retest.
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Nothing in this article is financial advice, and you should only invest in the market you believe is suitable for your portfolio.
