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What Is AAVE Coin?
Aave is a cryptocurrency and platform that runs on the Ethereum protocol along with LEND Tokan.
AAVE (LEND) is a cryptocurrency running on the Ethereum blockchain. Aave describes itself as " an open source and non-custodial protocol that enables the creation of money markets. At AAVE, users can earn interest on their deposits and borrowing assets.
What Is AAVE Coin?
“Aave “comes across as a Finnish word meaning” Ghost " in English. The reason the protocol chose the name Aave Coin comes from its focus on creating a transparent and open infrastructure for decentralized funding.
AAVE Coin, which meets the user in January 2020, completed its integrations with My Ether Vallet and Trust Wallet on February 28. Then on March 26, BUSD began listing on the AAVE platform, and on April 10, the parameter page was updated and the historical data Page met the user. Aeve, which has made significant improvements in a row, continues its development today.
AAVE interest-bearing tokens, i.e. atokens in short, are fixed at a ratio of 1:1 to the value of the underlying asset accumulated in the AAVE protocol. Atokens like ADai can be freely stored, transferred and traded.
The underlying asset is lent to borrowers, while Atokens send interest directly to wallets in real time.
LEND tokens are used to manage the AAVE protocol. Thanks to LEND, users can use features such as bidding, voting on new features and making decisions, and expressing opinions on protocol parameters.
The Lend cryptocurrency token, also commonly referred to as ETHLend, became AAVE's local token following the termination of ETHLend's operations in January of this year. Although the name is the same, lend's new AAVE version is largely different from its predecessor. It can also use LEND tokens designed according to the ERC-20 standard for fee reduction.
In addition, although LEND has been showing itself in the markets for a short time along with Aave, according to CoinMarketCap 34. it's not ranked, and it seems to be attracting investor interest.
On the other hand, the current supply of Lend on the market, which was trading at $ 0.288 at the time of publication of the article, is 1,299,999,942 LEND.
Along with these, the current market value of Lend, which has a 24-hour trading volume of $ 22,887,166, has reached $ 374,499,682.
LEND Coin review
With the boom in the DeFi market, LEND token also saw strong price movements. Lend, which started 2020 with a huge increase of 130%, can be considered to have benefited from the boom in the DeFi market. In addition, Lend coin continues to grow with the investments it receives from AAVE. Recently, for example, AAVE received $ 4.5 million in investment from ParaFi Capital, an investment company focused on decentralized financial markets.
Also, LEND tokans are burned according to the fees collected by the protocol. This, in turn, is interpreted as being more valuable over time.
It is worth noting that with the increase in DeFi projects, analysts also expect to see various improvements in Lend coin.
Buy Aave Coin
You can safely buy AAVE coin from Binance, the cryptocurrency exchange with the highest trading volume in the world, which also frequently mentions its name with its steps.