Price Analysis Bitcoin Ethereum AAVE Doge SXP Algo ANT
Cryptocurrency AAVE has renewed its all-time high
DeFi platform AAVE token price hits record high
Growing interest in the DeFi industry drives capital inflows to platforms such as AAVE
Users of the decentralized AAVE platform earn interest on deposits
Growing interest in decentralized finance instruments (DeFi) Decentralized finance (DeFi) – this is financial services, built on blockchain technology, which offer users access to open, efficient and … More) provides a steady flow of fresh capital to leading DeFi platforms such as AAVE
The total amount of funds blocked in DeFi (TVL) is kept close to $ 25 billion, with tokens of some projects showing record price increases. AAVE is one of them. AAVE is an open source DeFi protocol offering cryptocurrency trust services.
Join our telegram channel to stay informed main trends in the crypto market.
Protocol users can deposit coins and earn interest, as well as borrow cryptocurrency secured.
The banking revolution
The operating principle of such platforms is similar to traditional banking. In general, it is. However, on decentralized protocols like AAVE, most of the fees and profits go to platform users and token holders..
Read also: Five Best DeFi Projects in the New Altcoin Season
According to the analytical and rating platform defipulse.com, AAVE is ranked second in terms of blocked funds (TVL). Now the platform contains $ 3.63 million worth of cryptocurrency assets.
The amount of blocked funds in the AAVE protocol. Source: Defipulse
Against the background of a record inflow of capital to the platform, the value of the AAVE token is also growing. The token price has passed the $ 250 mark. Meanwhile, the network’s total market capitalization is approaching $ 3 billion. Thus, the project took the 16th place in the ranking of the largest blockchain projects in the world..
Capitalization of AAVE. Source Coinmarketcap
Defi on the rise
Over the past 24 hours, the coin has risen in price by almost 20% and updated its all-time high. Such price rallies are not uncommon in the DeFi industry lately. Investors are following with interest and excitement the developments in the industry, which offers new generation financial products. In search of lucrative projects and investments, people are gradually starting to pay attention to tokens beyond the top ten.
Read also: Shocking predictions for DeFi and Ethereum for 2021
Decentralized platforms are capable of handling a wide variety of financial transactions. They offer lending, cryptocurrency exchange, derivatives trading and asset management – all based on decentralized technology. Most of these tools are built on the Ethereum blockchain..
Of the 63 largest projects by TVL size, only one does not run on Ethereum.
This alignment of forces underlines Etheruem’s firmness in the DeFi industry. Many smart contract platforms are trying to claim the status of “Ethereum killer” trying to compete with the giant, but so far to no avail. Financial platforms like AAVE are actively developing and breaking records for a variety of indicators. DeFi boom in full swing.
All information, contained on our website, published on the principles of good faith and objectivity, and for informational purposes only. Reader yourself bears full responsibility for any actions, committed by him on the basis of information, obtained from our website.