Aave (AAVE) Price

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Aave (AAVE) Price

$266.84 0.15%

24H

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Latest Updates

Updated at 16:40

Market cap

$4,067,932,790.94

Market rank

#30

Volume 24H

$234,095,715.66 15.78%

Price change 24h

-$0.39817 0.15%

Price change 7d

-$24.765 9.28%

What about AAVE?

AAVE is an Ethereum-based decentralized finance (DeFi) protocol that offers users the ability to take part in lending or borrowing cryptocurrency assets securely through its open-source platform. It’s also known as Aave, which stands for "Automatic Allocation of Virtual Assets." Unlike other banking products, Aave does not require any up-front collateral from users; rather, it uses risk management tools such as minting and burning tokens to protect users’ funds.

The AAVE protocol works by allowing participants to deposit cryptocurrency into the system and then receive liquidity tokens in return. These funds are used to create loans by using smart contracts on the blockchain. Other participants can then lend these funds out with different interest rates based on the security level of their project or how much they need to borrow. In addition, borrowers may choose between fixed rate or variable rate options when taking out a loan. Borrowers will also be able to earn rewards when paying back a loan on time.

To ensure safety and fairness during financial transactions on the AAVE platform, the protocol utilizes various technologies including machine learning algorithms and flash fundraising features known as flash loans, which enable people to get instant loans at low transaction fees. Furthermore, unlike most DeFi protocols, AAVE actively manages its own reserve fund composed of both deposits from users and profits generated from borrowing activities on its network in order to prevent market manipulation and instability within the network.

The main benefit of using AAVE is easy access to decentralized asset markets without counterparty risk or lengthy withdrawal processes. No intermediaries means no additional fees, leading to cost savings. AAVE also offers flash loans for faster trading activity and higher profitability opportunities, and a secure environment for transactions with rigorous monitoring practices and machine learning algorithms.

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Aave (AAVE) Overview

Aave is a decentralized non-custodial liquidity market protocol where users can earn interest on deposits and borrow assets. Participants, who deposit liquidity to the market, get an opportunity to earn a passive income, while borrowers can take out crypto loans in an over-collateralized (perpetually) or under-collateralized (one-block liquidity) fashion.

"Over-collateralized" means that borrowers need to provide more collateral (crypto assets) than the value of the loan they are taking. This ensures that lenders are protected in case of default. "Perpetually" refers to the duration of the loan, indicating that the collateral remains locked until the loan is repaid.

"Under-collateralized" means that borrowers can take out a loan without providing collateral equal to the full value of the loan. However, this option is limited to one block, meaning that the collateral must be repaid within a single block of transactions.

AAVE is the pillar of Aave Protocol governance, as the native token allows the community to vote and decide on the outcome of Aave Improvement Proposals (AIPs). Apart from being the governance token, AAVE is suitable for staking. Stakers earn rewards for helping to secure the Aave network.

The live AAVE price is shown on the interactive chart above. View the current AAVE price and the coin’s detailed market statistics, such as its 24-hour trading volume, relative popularity, recent price change, and current market cap.

Apart from offering the detailed AAVE price statistics, the Changelly cryptocurrency exchange also allows you to easily buy AAVE with a fiat currency or exchange AAVE tokens for other digital assets like Bitcoin Cash, Binance Coin, and many more.

How Did the Aave Project Start?

Aave, originally known as ETHLend, was founded by Stani Kulechov in November 2017. It started as a lending application on the Ethereum blockchain. In September 2018, the platform underwent a rebranding. It adopted the name Aave and expanded its services beyond Ether lending.

The name “Aave” means "ghost" in Finnish. The Aave money-market protocol has a ghost as a mascot called "Aavegotchi" because it represents the concept of a decentralized, autonomous, and transparent financial system. The ghost symbolizes the immateriality and borderless nature of digital assets, highlighting Aave's focus on the world of DeFi.

In November 2017, Aave conducted an initial coin offering, raising $16.2 million by selling one billion AAVE tokens. In July 2020, Aave ran a token swap, exchanging the 1.3 billion AAVE tokens in circulation for the newly minted AAVE cryptocurrency at a ratio of 1:100. Aave's open-source protocol is built on the Ethereum blockchain, which has recently transitioned from Proof-of-Work to Proof-of-Stake.

View the current AAVE price today and AAVE price history from the interactive chart above. The Changelly crypto exchange displays the price of AAVE at different periods, letting you easily see the lowest price and the highest price paid for the crypto assets, along with the average price the AAVE crypto is traded at today.

How Does Aave Work?

The Aave protocol is a decentralized finance (DeFi) protocol built on the Ethereum blockchain. It enables users to lend and borrow a slew of cryptocurrencies in a permissionless and secure manner.

At the core of the Aave protocol is a smart contract called the "LendingPool." This smart contract acts as a decentralized lending marketplace, connecting lenders and borrowers directly with no intermediaries like banks.

Lenders can deposit crypto assets into the LendingPool, earning interest on their funds. Borrowers, on the other hand, can borrow these assets by providing collateral in the form of other cryptocurrencies.

View the current AAVE price and comprehensive AAVE market statistics above.

What Technology Powers the Aave Platform?

The main technology powering the Aave protocol is Ethereum, a decentralized platform that allows developers to build and execute smart contracts. The Ethereum network enables the security, transparency, and trust required for Aave participants to lend and borrow seamlessly.

Notably, the Aave protocol has undergone several major updates. Its current version is called Aave V3. It offers greater capital efficiencies, increased security, and cross-chain functionality, while facilitating increased decentralization across the protocol.

Aave v3 is just an enhancement to the underlying protocol, and it doesn’t affect its native cryptocurrency. Hence, if you are holding AAVE, you do not need to do anything. Additionally, if you have loan positions on the previous version of Aave (V1 or V2), you do not need to close them either. Aave released a special migration tool to help you move funds between V2 and V3 Aave markets.

Who Can Use the Aave Protocol?

The main participants in the Aave protocol are depositors and borrowers. Depositors provide liquidity to the market to earn passive income, while borrowers can borrow using either a stable or variable interest rate. AAVE holders can govern the protocol.

There are also stakers participating in the AAVE cryptocurrency community. In the AAVE cryptocurrency community, stakers help to secure the protocol and prevent potential shortfalls. By staking AAVE coins, users contribute to the overall security and stability of the platform. As a reward for their participation, stakers earn incentives in the form of additional AAVE coins.

What Makes Aave Unique?

Aave is a unique money-market platform in the DeFi space, being packed with several distinctive features.

Aave is open-source, enabling interaction through a user interface client, API, or directly with smart contracts on the Ethereum network. Aave's open-source protocol allows developers to build any third-party service or application to interact with the protocol and enrich their product.

Another Aave's standout feature is flash loans. A flash loan allows users to borrow funds without collateral, as long as the borrowed amount is repaid within the same transaction. This innovative feature opens up a variety of possibilities, including arbitrage opportunities and quick capital injections for liquidity providers.

The Aave Protocol has undergone rigorous audits and is constantly being enhanced to ensure the safety of user funds. Audits are conducted by Trail of Bits, Open Zeppelin, and other reputable audit firms.

Another advantage of Aave is its discounted fees. Aave offers reduced fees for those who use and hold AAVE, the project’s native token. This incentivizes users to participate actively in the Aave ecosystem and provides them with cost savings.

Lastly, Aave offers variable interest rates. Unlike traditional financial institutions, Aave allows borrowers and lenders to directly negotiate interest rates based on supply and demand dynamics. The possibility for a variable interest rate benefits both parties, as borrowers can access funds at competitive rates, while lenders can earn higher returns on their deposited assets.

What Is the AAVE Token?

The AAVE token is the native cryptocurrency of the Aave protocol, which is a decentralized lending and borrowing protocol built on the Ethereum blockchain. The total supply of AAVE tokens is 16 million. The token serves various purposes within the Aave ecosystem, including governance rights, fee payments, and incentives for users.

What is the Price of AAVE Today?

Our interactive AAVE price chart provides the AAVE-USD price with real-time updates. Whether you want to learn about the current AAVE price, its 24-hour trading volume, recent price changes, or AAVE market cap – Changelly is a crypto price tracking service to safely rely on. Our comprehensive AAVE price chart offers the latest data, letting you easily know how the AAVE coin is performing at the crypto market.

Our Aave AAVE price prediction, based on the fundamental and technical analysis of the digital asset, may be useful in making weighted investment decisions. But consider doing your own research and following the latest AAVE news before you buy or trade AAVE tokens because our AAVE price prediction is not guaranteed, so do not regard it as investment advice.

If you consider AAVE a good investment, our platform is an ideal place to buy cryptocurrency with fiat money. You will enjoy our industry-low fees, bank-level security, and swift transactions.

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FAQ

What determines the price of Aave?

The price of Aave is determined by a range of factors, including supply and demand, market news and events, investor sentiment, and competition from other cryptocurrencies.

Investors can follow the performance of AAVE on various platforms, including online exchanges and price-tracking websites like Changelly. By monitoring market news and keeping up to date on the cryptocurrency's performance, investors may gain insights into its prospects and make informed investment decisions.

However, it's worth keeping in mind that cryptocurrency prices are highly volatile and can fluctuate rapidly, so you should exercise caution and conduct your research before investing.

What was the starting price of Aave?

The starting price of an asset refers to the price at which it debuted on the market.

The change in price is due to various factors, including mainstream acceptance of the cryptocurrency, the size of the initial offering, and the level of demand from investors.

You can find historical price data for AAVE on Changelly's real-time charts. They offer valuable insights into the cryptocurrency's past performance and can help you make informed investment decisions.

When investing in cryptocurrencies, keep in mind that prices can change quickly due to market conditions and other factors.

What was the highest price of Aave?

The highest price of Aave refers to the highest value that it has ever achieved on the market. This can be influenced by a range of factors, including market demand, investor sentiment, and the overall health of the cryptocurrency ecosystem.

You can track real-time prices of AAVE with just a few clicks on Changelly. Our platform provides you with access to historical price data so you can easily analyze the performance of the cryptocurrency over time. Interactive charts make it super easy to understand and help you stay on top of market trends, identify key price points, and keep up with the latest industry developments all in one place.

It is important to note that the highest price ever reached by a cryptocurrency in the past does not always mean it is going to do well in the future. So, before investing, you should exercise caution and do your research.

What was the lowest price of Aave?

Cryptocurrencies are known for their volatile nature, and their prices can fluctuate rapidly in a short period. As a result, traders are always keen to know the lowest price of a cryptocurrency to assess its potential risks and returns.

With Changelly's live charts, you can easily view historical price data for a wide range of cryptocurrencies, including Aave. Our charts provide a wealth of information on the performance of an asset, including its lowest price point.

It is crucial to remember that the crypto's previous lows do not mean it is doomed to fail. Before making any investments, take your time to research and proceed with caution.