By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Aave (AAVE) Attracting Whales Over Past Few Months – Will It Spur Price Rally?
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Aave (AAVE) Attracting Whales Over Past Few Months – Will It Spur Price Rally?
crypto

Aave (AAVE) Attracting Whales Over Past Few Months – Will It Spur Price Rally?

admin Published September 21, 2022
Last updated: 2022/09/21 at 11:45 PM
Share
SHARE

[ad_1]

The number of “whale” addresses in AAVE has recently increased. Whale addresses are digital currency addresses that store 1 million or more of a particular coin. AAVE is currently riding a wave of whale-like popularity.

Contents
AAVE TVL Increasing As WellPositive Developments Help The Token Recover

AAVE is currently riding a wave of whale-like popularity. A 55 percent of the AAVE coins are held by addresses with 1,000 to one million tokens, per Santiment. That’s a big jump from the 48% investors saw in the first half of June.

This increase in whale addresses may be attributable to new AAVE features. AAVE recently tweeted on the company’s recent achievements in the present DeFi industry.

We may expect an increase in the number of services that make use of the AAVE ecosystem over the coming years, as funding has been awarded to more than 26 different beneficiaries.

Staking the token on the ecosystem can now generate instant returns thanks to the company’s cooperation with Flashstake.

AAVE TVL Increasing As Well

Using the governance token, users may lend and borrow cryptocurrencies and real-world assets (RWAs) directly from one another, cutting out the need for a trusted third party. Investors gain interest when lending money and lose it while borrowing money.

The TVL of the system has increased to $1.17 billion, from $1.09 billion on September 14th, since tweets describing current changes in the ecosystem were released.

When the TVL number goes up, trade volume goes up with it. The token’s 24-hour trading volume increased from $74,494,475 on September 18 to $145,288,857 on September 20, according to publicly available data. This represents a massive growth of nearly 49 percent.

As of the time of writing, this figure decreased by 19.5 percent to $116,733,735. Although the long-term outlook for AAVE may be favorable, the short-term outlook is not promising.

Despite the significance of the advancements, the token is still subject to market conditions. The token has already lost 14 percent of its September 17 gains.

Positive Developments Help The Token Recover

The price decline can be attributed to the deteriorating macroeconomic conditions in the first half of September. Due to the market’s climate of dread, the crypto winter will persist until the end of the year before conditions improve.

Recent economic developments will influence the broader financial markets, particularly the cryptocurrency market. But recent developments can assist AAVE in recouping its losses.

Recently, NASDAQ announced its entry into the cryptocurrency market. Their justification was that institutional investors’ interest in digital assets has increased.

Despite the fact that their approach is still cautious because crypto exists in a legal murky area, this is still a big milestone in the crypto industry.

AAVE has been a part of the cryptocurrency market as a lending and borrowing platform. As the crypto winter persists, services such as AAVE will become indispensable for surviving the current market conditions.

AAVE total market cap at $1.02 billion on the daily chart | Source: TradingView.com

Featured image from The Coin Republic, Chart: TradingView.com

(The analysis represents the author's personal views and should not be construed as investment advice).

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin September 21, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Tech is at the heart of the biggest chess drama in years
Next Article Chinese EV startup Xpeng says its new G9 SUV is ‘last step’ before autonomous vehicles

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?