Discover the DeFi protocol Aave beyond its price
Jun 07, 2023
Aave Token statistics
About Aave (AAVE)
Aave is a DeFi protocol, i.e. decentralized finance. In Aave people can lend or borrow around 20 cryptocurrencies, such as ether (ETH), MANA and Chainlink (LINK), with no need to provi...
What you need to know about AAVE
What's the price of AAVE cryptocurrency?
At the beginning of June 2022, the price of AAVE cryptocurrency was 105.8 USD. Later in that month, its value changed by 7.35%, totaling a trading volume of just over 176 million USD. The AAVE token has a market capitalization of 861.8 million dollars. The Aave protocol cryptocurrency is ranked 42nd in the Coin Market Cap ranking. For market circulation, there is a maximum supply of 16 million units.
Is Aave part of the Ethereum network?
Yes, the Aave protocol is part of the Ethereum network. Therefore, its default is ERC-20. It has self-executing codes built on the network's blockchain, so Aave uses all the technology of smart contracts: pre-programmed digital contracts that carry out transactions on the platform. It is worth noting that it also functions as a Decentralized Autonomous Organization (DAO), that is, it is governed by people who hold AAVE tokens.
What's a DeFi protocol for? How does it relate to Aave?
The DeFi protocol, an acronym for Decentralized Finance, serves to allow financial services to be done freely. As for Aave project, the platform uses the tokens to carry out transfers, loans and exchanges of digital assets. All in a decentralized manner, that is, without the intermediation of banks, governments or other central authorities. This brings privacy and autonomy for Aave users.
How to buy AAVE?
The safest way to buy and sell AAVE or other cryptocurrencies is using the services of an exchange. Bitso is one of the fastest growing digital currency exchanges in Latin America. After registering on the Bitso website or app, you can buy AAVE and other tokens in a quick, simple and safe way, starting with 5 USD. If you need guidance, just contact our team of experts!