$312
1H
-0.83%$2.61
24H
-2.53%$8.09
7D
3.07%$9.28
30D
3.48%$10.48
Aave is a decentralized finance protocol that allows people to lend and borrow crypto.
Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity.
Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but the rebranding to Aave happened in September 2018. (This helps explain why this token’s ticker is so different from its name!)
AAVE provides holders with discounted fees on the platform, and it also serves as a governance token – giving owners a say in the future development of the protocol.
The Federal Reserve Chair, Jerome Powell, recently stated that his institution had no intention of banning cryptocurrencies. While this is a positive sign for the regulatory future of cryptocurrencies, we are still in a hazy area.
While the entire crypto industry is on a more recent bull run, analysts have identified that the sector is experiencing more influx of funds.
The huge demand for ADALend has been attributed to several crypto market factors but above all the successful launch of smart contract technology on the Cardano ecosystem.
The Bitwise 10 ex Bitcoin Crypto Index Fund comprises 9 coins. These are Ethereum, Cardano, Solana, Bitcoin Cash, Chainlink, Litecoin, Uniswap, Polygon, and Stellar.
With crypto funds and indexes coming mainstream, the Bitwise options for the Aave and Uniswap are likely to see increased embrace from investors across the board.
