Tuesday, August 23, 2022
HomeDeFi NewsAave and its remarkable value for money

Aave and its remarkable value for money

Aave’s price performance in recent months has been truly remarkable.

The AAVE token debuted on the crypto markets in October 2020, although it actually replaced the previous token LEND already listed since 2017.

LEND in fact debuted at $0.05 in December 2017, but after a short rally, it later dropped as low as $0.003 on August 18th, 2019.

However, when it was replaced, it had risen to $0.56 by October 2020, and now the old LEND token, which is still in circulation, has a value of $5.16.

The new AAVE token debuted with a price a hundred times higher than the old LEND, as it was worth around $56 on October 3rd.

In its first month of existence on the crypto markets, it fell even below $30, but by mid-November, it had already risen to $80.

Until January 3rd, 2021, it always remained below $90, but on January 4th, it literally started to soar.

On January 21st, a little over two weeks later, it had already more than doubled, reaching almost $200, which was then exceeded on January 24th, when it began a new run that led it to exceed $300 by the end of the month.

After three days of settling down, on February 4th it started to rise again and reached an all-time high of $575 on February 10th.

In other words, the price of Aave has risen more than tenfold in just four months, a remarkable performance to say the least.

Aave, the price performance: +166,000%

If we also take into account the period before its launch, i.e. when the old LEND token existed, with the appropriate ratio, we can see that from the moment of the minimum peak in August 2019 until today the gain has been 166,000%, having multiplied more than a thousand times from 0.003$ to over 5$.

The fact that the LEND token still exists, and is worth around $5.2, means that such a comparison is more than legit.

Aave is one of the most interesting DeFi projects around, currently second only to Maker for TVL: in fact it has overtaken Compound, and has almost $6 billion in locked funds. So the fact that its token is so successful is hardly surprising, even though most of these locked funds are Aave tokens, the price growth of which has had a significant impact on TVL.

Buy and sell Bitcoin and other cryptocurrencies on Bybit, the most comprehensive cryptocurrency exchange to safely and conveniently invest in the world's most traded cryptocurrencies. Sign up and see how simple it is, go to: https://bybit.com

Follow the latest news about the cryptocurrency market at:

Google News | Facebook | Twitter | Telegram | Reddit 


- Advertisment -

Most Popular