Aave

Switch

Boost

DeFi

<p>The post <a href="https://coinpedia.org/news/why-is-the-aave-aave-price-up/">Why is the AAVE Price Up Today? $200 Ahead!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The price of Aave (<a href="https://markets.coinpedia.org/aave/" target="_blank" rel="noreferrer noopener">AAVE</a>), the governance token for the Aave lending protocol, has jumped 15% in the past 24 hours, reaching $103. This spike is linked to a new governance proposal that could introduce a fee switch and a token buy-back program. This has led to speculation about whether <a href="https://coinpedia.org/price-prediction/aave-price-prediction/" target="_blank" rel="noreferrer noopener">Aave’s price</a> might soon hit $200.</p> 
<p>Here’s more about it below. </p> 
<h2 class="wp-block-heading" id="h-what-s-behind-aave-s-price-surge">What’s Behind Aave’s Price Surge?</h2> 
<p>The recent increase in Aave’s price is driven by excitement over the <a href="https://governance.aave.com/t/temp-check-aavenomics-update/18379" target="_blank" rel="noreferrer noopener nofollow">AAVE fee switch proposal</a>. Mark Zeller, founder of the Aave-Chan Initiative, explains that this proposal could significantly change how the Aave protocol earns revenue. The plan includes introducing a mechanism to collect transaction fees and use those funds to repurchase AAVE tokens from the open market.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Leveraging the introduction of Umbrella, <br><br>It’s time to upgrade the <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> role in our ecosystem.<br><br>Let’s explore this together:<a href="https://t.co/70z1jD2pjf">https://t.co/70z1jD2pjf</a> <a href="https://t.co/He7XPyzkT0">pic.twitter.com/He7XPyzkT0</a></p>— Marc “Billy” Zeller 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f47b.png" alt="👻" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f987.png" alt="🦇" class="wp-smiley" style="height: 1em; max-height: 1em;">
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f50a.png" alt="🔊" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@lemiscate) <a href="https://twitter.com/lemiscate/status/1816469283624337413?ref_src=twsrc%5Etfw">July 25, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>If this proposal is approved, it could bring in around $60 million in annual revenue for AAVE holders. Aave, a leading DeFi lending platform, currently has over $12 billion in total value locked (TVL).</p> 
<p>According to <a href="https://coinalyze.net/aave-new/open-interest/" target="_blank" rel="noreferrer noopener nofollow">Coinalyze</a>, market activity has increased following the announcement of potential protocol changes, with predictions of further rises to 0.0113 in the next 24 hours. Although AAVE’s price is currently at $100, technical analysis suggests potential gains to $110 in the short term and $130 in the mid-term.</p> 
<h2 class="wp-block-heading" id="h-evaluating-aave-s-performance">Evaluating AAVE’s Performance </h2> 
<p>AAVE has risen by 35% over the past year, showing a strong upward trend. The token is trading above its 200-day simple moving average, which suggests good growth potential. With 18 of the last 30 days showing positive momentum, the market sentiment remains optimistic.</p> 
<p>Aave benefits from high liquidity and a large market cap, which helps with its trading stability and appeal. Despite <a href="https://coinpedia.org/news/whale-sell-off-crashes-crypto-market-ldo-aave-uni-fxs-trading-in-red/" target="_blank" rel="noreferrer noopener">being down 85%</a> from its all-time high of $661, AAVE has outperformed 61% of the top 100 cryptocurrencies over the past year, doing better than Bitcoin and Ethereum.</p> 
<h2 class="wp-block-heading" id="h-what-next">What Next? </h2> 
<p>With the positive sentiment from the AAVE fee switch proposal and a low annual inflation rate of 2.29%, AAVE could potentially reach $200. However, if the market turns bearish and the AAVE price falls to $80, the next key support level is at $67. At this level, 16,380 addresses hold $1.19 million worth of AAVE tokens, which are still in profit.</p> 
<p>Investors should monitor these developments closely to navigate potential future price shifts.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-analysis/whats-next-for-the-top-2-brc-20-tokens-as-btc-price-hit-67k/" target="_blank" rel="noreferrer noopener">What’s Next For The Top 2 BRC-20 Tokens As BTC Price Hit $67K?</a></p> 
<p><strong>With the potential of a $60 million revenue stream, AAVE’s future looks bright. Are you excited?</strong></p>

Why is the AAVE Price Up Today? $200 Ahead!

Table of Contents

CoinPedia News

Другие статьи, опубликованные 26 июл. 2024 г.

Michael Saylor Forecasts Bitcoin’s Growth

Epic Altcoin Rally Predicted for August and September

Bitcoin Bounces Back to $67,800: Bullish Signs and Trump’s Speech Fuel the Surge

Weekly Article Recap: 7/15-7/19

Rho Markets Hit by $7.5M Hack, Attackers Demand Admission of Oracle Error for Fund Return

Render Price Soars As Binance Announces Trading Services

Join our free newsletter for daily crypto updates!