AAVE Price Analysis July 2022

AAVE is a token of the platform AAVE. Its current price is around $91.17 by the time of writing, with a low of $45.98, and has a market cap of 1.2 billion dollars.

Aave lets people borrow digital assets and earn interest through loans. It was built as an open-source protocol on the Ethereum platform, which means it’s decentralized. It is a new decentralized lending protocol that allows you to loan or borrow digital assets without needing intermediaries.

 Users can deposit assets into a liquidity pool that the system can use to distribute and fund loans for different projects. Lenders are assured the repayment by the blockchain network, which is secured by various means like a reserve fund for bad days. In addition, the portal matches lenders to borrowers, who can connect their wallets directly with each other.

AAVE is the token of the AAVE platform, which is around $91.17 by the time of writing, with a low of $45.98. It reached a high of $454.27, and its current ranking is #41 according to CoinMarketCap, with a market cap of 1.2 billion dollars. Aave is the native cryptocurrency of the Aave platform, a decentralized finance platform where users can borrow, lend and invest in cryptocurrencies without needing a middleman.

AAVE has a total supply of 16,000,000 coins worth around $91.17 with a market volume of 462 million dollars, whereas the market capitalization is 1.2 billion dollars at writing. 

Aave has the potential to stay as one of the top cryptocurrencies this year, compensated by its volatility in the crypto market. On the 1D timeframe, the price action of $AAVE/USDT has broken the resistance trendline of the descending triangle. Currently, it is going to break its horizontal resistance zone. If it breaks successfully, then it can go further upwards.

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