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Aave

0.00%

Market Cap (USD)

$1.4B

24H VOLUME (USD)

$638

Daily change

$3.5

A price chart is a visual representation of the current market situation. It helps users better understand any trading asset — including digital currencies. The chart shows various information about the asset, such as trading volume, historical changes, current rates, etc. Among these, changes of the price of the asset relative to fiat funds is among the most useful info, as it tells you how many euros or dollars you need to spend to buy the said crypto asset.

Aave (AAVE) Price Chart

One of the most exciting things about crypto — at least, for us at CEX.IO — is looking at the details. Since branding is important, most cryptocurrencies have convenient coin tickers: BTC for Bitcoin, ETH for Ethereum, and so on. However, this time, one particular crypto caught our attention - Aave.

Did you know that the word "aave" actually means "ghost" in Finnish? We didn’t! Although, don't go calling the Ghostbusters just yet. Far from being scary or invisible, this DeFi shares other qualities with otherworldly beings like spirits (such as a stubborn resilience, but more on that in a bit). In the meantime, let's begin.

What is Aave (AAVE)?

Before we get into advanced stuff like AAVE price prediction, let's start with the fundamentals. Aave (AAVE) is a DeFi lending platform that exists and operates on top of the Ethereum network.

However, if you're only just dipping your toes in crypto waters, you can think of Aave as a giant swimming pool filled with cash. Virtually anyone can approach this swimming pool and either throw more cash into the pool or take some cash out. 

These two actions depict how Aave works at its most basic level. In other words, this platform enables anyone in the world to add cash to a money pool or subtract cash from it. You might even better understand the adding/subtracting cash analogies under their financial market terms: lending and borrowing!

Technically speaking, Aave is a decentralized, open-source protocol that enables users to borrow and lend cryptocurrencies with stable or variable rates. 

On the one hand, lenders deposit cryptocurrencies into liquidity pools and earn rewards in return. On the other hand, borrowers take out loans from these pools by using their own crypto as collateral. Depending on the available funds in the pools, the protocol algorithmically decides on the rates for both parties. 

Although Aave is currently considered a multichain platform, it used to run exclusively on the Ethereum blockchain. Aave is also integrated with Harmony, Optimism, Arbitrum, Fantom, Avalanche, and Polygon. The network’s native and namesake token, AAVE, is an ERC-20 token primarily serving governance purposes.

Aave history

The Ethereum blockchain saw the launch of the Aave V1 mainnet on January 8, 2020. The launch served a dual purpose. The first was to introduce traditional ERC-20 tokens into the main Ethereum market, and the second was to do the same with the Uniswap market. The difference was that users could use Uniswap V1 liquidity pool tokens as collateral. 

December 2020 witnessed the Aave V2 mainnet going live. Users could benefit from optimized transaction fees and risk management tools in the updated version. In addition,  Aave began supporting the Polygon market on the Polygon sidechain. 

Fast forward to January 2022, when Aave decided to increase its focus on institutional investors. The platform launched Aave Arc at this time, a permissioned liquidity and lending service. The Aave V3 protocol went live in March 2022.

Who are the founders of Aave?

Finnish programmer Stani Kulechov is the brains behind this DeFi platform, although its start wasn't as smooth as the founder likely intended. 

It was 2017, and Kulechov and his team had developed ETHLend. The idea behind this DeFi protocol was to offer peer-to-peer lending. More specifically, ETHLend was meant to allow users to lend and borrow cryptocurrencies to and from each other by posting offer and loan requests on the platform. Indeed — ETHLend made history as the first decentralized finance protocol to offer peer-to-peer lending.

But, neither Kulechov nor his team realized that a storm was brewing. Even though ETHLend held an ICO (initial coin offering) for $16.2 million in November 2017 and sold 1 billion native LEND tokens in the process, the crypto market entered bear conditions in 2018, which sent its price trend spiraling. 

The project soon faced difficulties matching loan offers and requests and struggled with liquidity. The rebranding to Aave took place in September 2018, and thanks to the stubborn resilience we mentioned at the beginning, this project refused to go quietly into the night. The rest is history.

How Aave works

When looking into how Aave works, it's easiest to imagine a system of lending pools (or swimming pools filled with cash from the above analogy). 

Those interested in lending their crypto funds first deposit their assets into a liquidity pool. On the spectrum's other end, borrowers can then draw these funds from the pools by taking out loans. 

The tokens can be transferred or traded in whichever way the lender wishes. However, Aave issues two types of tokens to facilitate this activity. The first type is aTokens, which are issued to lenders to enable them to collect rewards on deposits. The second type is Aave's native tokens - AAVE

Note that AAVE holders can benefit from numerous advantages. For example, taking out loans denominated in the AAVE token does not require borrowers to pay a fee. Similarly, borrowers also get a discount on fees if they use AAVE as collateral, but it doesn't end there. Borrowers posting AAVE as collateral can borrow slightly more than those who post other types of collateral. Lastly, token holders can look at loans before they are released to the general public if they pay a fee in AAVE. 

The advantage that is Flash loans

Flash loans are a type of instantly issued and settled loans on Aave. In addition to occurring almost instantaneously, these loans require no upfront collateral. The reason why flash loans are advantageous is that they exploit a feature unique to blockchain technology. 

This feature allows transactions to become finalized only when the network accepts a block (a new bundle of transactions). However, the process of adding a new block requires time, which differs depending on the cryptocurrency in question. For example, this interval is around 10 minutes on Bitcoin but only 13 seconds on Ethereum. Therefore, an Aave flash loan occurs within a 13-second period.

The process of a flash loan works as follows: a borrower has the option of requesting funds from the Aave platform. However, they must pay those funds back with a 0.09% fee within the same block. If the borrower fails to fulfill these conditions, a cancellation process ensues, eliminating the borrowing in the first place.

Consequently, there is zero risk for both the borrower and the Aave platform.

Alternatively, a borrower might want to use a flash loan to maximize profits from other systems built on Ethereum, or take advantage of trading opportunities. So, one may automatically swap different cryptocurrencies by generating trading profits through the use of flash loans.

Current AAVE price index 

Whether you're looking to buy Dogecoin or buy Ethereum, the prices of various cryptocurrencies change continuously.  This is why keeping track of the market is necessary to identify the most favorable time to conduct transactions.

However, when determining the most favorable time for crypto trades, one must also account for various indicators, such as the AAVE historical price (more on this below), a comprehensive price analysis, etc. Conveniently, CEX.IO is home to the latest market information and price charts for various crypto assets (including Aave price over time).

In other words, CEX.IO enables users to trade numerous assets, including the biggest names in the game, by market capitalization. Examples include crypto staples such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Tether (USDT), but also comparatively younger projects like Aave. At CEX.IO, you can check the Aave price, learn how to buy AAVE, but also how to convert AAVE to USD. 

AAVE price history

As mentioned above, ETHLend was rebranded to Aave in September 2018. However, it wasn’t until October 2020 that the migration from the LEND token to the AAVE token took place. The migration ratio was 100 LEND to 1 AAVE.

The AAVE token’s price varied depending on market conditions, and recorded an all-time high of $666.86 on May 18, 2021. The AAVE token’s max/total supply is 16 million AAVE.

Buy Aave

Where to buy AAVE

Trustworthiness and reliability are everything when it comes to cryptocurrency trading and acquisition. If these criteria are priorities in your selection of crypto platforms, then CEX.IO is the ultimate choice. 

On the one hand, CEX.IO is a robust crypto platform and exchange offering more than 120 crypto assets (such as BTC to USD) to individual and enterprise industry enthusiasts. On the other hand, and beyond the scope of our reputable exchange, CEX.IO is an entire ecosystem of crypto services, and a globally recognized and regulated provider of fintech products. Our PCI DSS-compliant platform is licensed to operate in numerous countries worldwide.

But, most of all, CEX.IO is a testament to an old industry adage: not all crypto exchanges are built equal. More than five million users have called our platform home since 2013, and our accolades extend far beyond the user end of the spectrum. Industry competitors and peers alike recognize our platform as a premium choice for reputability and security. Some of the accolades CEX.IO has earned over the years include:

  • Vetted Exchange by Digital Asset Research
  • Top 10 Best Exchanges Overall (A-grade) from CryptoCompare
  • Best Overall DeFi Platform Award from FinTech Breakthrough Awards
  • Among the six best crypto exchanges by Business Insider
  • Among 14 exchanges with trusted volume from CoinMetrics
  • Rank 4.5 out of 5.0 by an Investopedia independent review
  • Best Exchange Award from HedgeWeek

Considering everything mentioned above, CEX.IO is an excellent choice as a Bitcoin exchange platform, to safely acquire and trade AAVE, as well as numerous other crypto assets. 

How to buy AAVE

The process of acquiring AAVE is effortless at CEX.IO and only requires a few straightforward steps. Below, we'll help you navigate some of our platform's most popular options for buying AAVE.

How to Buy Aave for USD with a debit card on CEX.IO

Regardless of whether you're looking to acquire AAVE, buy Binance Coin, or an alternative crypto asset on CEX.IO, you have several options. Examples include:

If you opt to buy AAVE for USD with a debit card, simply follow the steps below to complete your transaction:

  1. Log into your CEX.IO account.
  2. Visit the Buy/Sell page.
  3. Select AAVE from the list of available cryptocurrencies.
  4. Set your preferred amount or opt for one of the FOK (fill-or-kill) orders. 
  5. Click on Buy Now. 
  6. If you've entered the required information correctly, you'll see the Next button.
  7. Select your previously linked debit card and proceed to complete the transaction.
  8. You should see your newly acquired AAVE coins on your CEX.IO balance immediately.

How to buy Aave at CEX.IO using a credit card 

Credit card crypto transactions are just as popular as debit card ones. CEX.IO enables users to acquire crypto using their Mastercard and VISA credit (and debit) cards. However, before you can use your credit card for cryptocurrency transactions on the platform, you must first link it to your account (and check cryptocurrency prices). You can achieve this by providing the card's expiry date and number, after which you can use it to conduct instant fiat deposits and withdrawals.

Once your CEX.IO account is topped up, you can buy cryptocurrency with credit card but also perform various transactions from the platform. Examples include:

  • Exchanging crypto 
  • Trading on spot markets
  • Acquiring crypto instantly

When looking to exchange crypto on CEX.IO, you can swap fiat or other digital currencies for AAVE tokens through the convenient CEX.IO Exchange app. The best part of using the app is that you don't need to figure out the trading aspects; simply select the two currencies from the drop-down list and click Exchange Now

Trading on spot markets is just as straightforward. Get started by visiting the Trade page and searching for AAVE pairs (AAVE/USDT or AAVE/USD). Once there, you'll need to place the market or limit order to acquire AAVE. 

Simultaneously, if your goal is to become the proud owner of AAVE coins*, you can do so with a few clicks on CEX.IO. Simply visit the Buy/Sell page, select AAVE from the drop-down menu, choose the amount, and click on "Buy Now." 

*Please note that the same process also applies if you're looking to buy Bitcoin instantly using credit card

Oh, and one more thing — now you can call the Ghostbusters.

FAQ

What is Aave (AAVE)?

Aave is a decentralized lending system and one of several emerging DeFi cryptocurrencies. It enables users to borrow, lend, and earn rewards on crypto assets without third parties. At its core, Aave operates as a system of smart contracts allowing a computer network to manage its assets. 

What is the AAVE token? 

AAVE is the Aave lending/borrowing platform's native token and the center of the Aave Protocol governance. Holders of this token may vote and decide on the outcome of AIPs (Aave Improvement Proposals). Additionally, this token is stakeable within the protocol Safety Module to ensure insurance/security to depositors/the protocol. Read more about the AAVE token stock price here.

Why buy AAVE on CEX.IO?

CEX.IO is an entire ecosystem of crypto services and a globally recognized and regulated provider of fintech products. Our PCI DSS compliant platform is licensed to operate in numerous countries worldwide. In other words, CEX.IO is an excellent choice to buy AAVEbuy Binance USDBuy Solana, or sell Bitcoin.

Where can you buy Aave?

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Trading Pairs

AAVE
USDT

AAVE-USDT

3.85%

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AAVE
EUR

AAVE-EUR

3.54%

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