$79.08
1H
-0.64%$0.5094
24H
4.93%$3.72
7D
3.41%$2.61
30D
-3.93%$3.23
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.
In the years following Bitcoin’s creation, the cryptocurrency market has seen a massive flood of new crypto projects. Some of these tokens, however, exist only in the world of speculation and have no practical applicability.
Bitcoin and other cryptocurrencies may one day replace traditional currencies as the standard for online transactions.
Lynqyo, Aave, and Binance Coin are outstanding cryptocurrencies for lending since they offer special services for creatives, expansive liquidity pools, high returns for liquidity providers, etc.
The prices of cryptocurrencies change every day, and not everyone is gifted enough to predict which coins or tokens will surge in value the following day.
There’s one token that’s been gaining a lot of attention recently, and that’s GLO.
