AAVE outperforms LDO as DeFi TVL reaches YTD high, more inside

AAVE outperforms LDO as TVL reaches YTD high, more insideAave recorded the most asset deposits in its protocol. Though Lido underperformed, its TVL hit 2023 highs. The Total Value Locked of Aave [AAVE] gained as much as 8.69% in the week ended 25 March. The rise in unique smart contract deposits made the protocol the best-performing one as the overall TVL hit $5o.01 billion […]

Aave V3 Is Live On Ethereum, TVL Up 24% In One Month

Aave V3 is now live on the Ethereum mainnet. With this upgrade, WBTC, WETH, wstETH, USDC, DAI, LINK, and AAVE are the only supported assets.  Aave V3 Improves Capital Efficiency Stani Kulechov, the co-founder of Aave, said V3’s flexible design introduces new ways of mitigating risks, reducing gas costs, and improving capital efficiency, all while ensuring better liquidity decentralization. Aave Protocol V3 is now live on the Ethereum market 👻 ”The most exciting aspect of V3 is its flexible design, which enables a variety of new risk mitigation features, and its improved capital efficiency & decentralized liquidity – all while reducing gas costs.” @StaniKulechov pic.twitter.com/QsSnnlhEMr — Aave (@AaveAave) January 27, 2023 This upgrade came after the Aave community delayed the upgrade. Then, Aave developers assessed that immediately improving V2 Pools to V3 would not have yielded the desired level of compatibility with other Aave V3 pools running on Avalanche, Polygon, and Ethereum layer-2 platforms. Related Reading: Aave Price Surges As V3 Cloud Upgrade Draws Near The current Aave V3 on Ethereum has been reworked. It is negligibly complex and more compatible with other Aave V3 pools outside of Ethereum. The transition to Ethereum, expanding Aave’s presence in top blockchains, didn’t immediately affect its total value locked (TVL). Data show that it is 2% lower in the past 24 hours. However, TVL is up 24% in the last month, rising to $4.56 billion as of the time of writing on January 27, according to data streams from DeFiLlama. Aave is now the fourth largest DeFi protocol by TVL, trailing Lido Finance, MakerDAO, and Curve. However, the dApp is the second-largest lending protocol by TVL, behind MakerDAO. By launching on Ethereum, and upgrading from the original V2, the protocol’s TVL might gradually increase over the coming weeks or months.  This, in turn, may positively impact AAVE prices. Aave is a decentralized money market, allowing crypto holders to actively lend and borrow various assets. Integrating V3 on Ethereum avails the protocol on six other platforms, including Avalanche, Polygon, and Harmony. Polygon is compatible with Ethereum’s virtual machine, existing as a layer-2 protocol enabling higher scalability and significantly lower trading fees. What Aave V3 Brings  Developers claim Aave V3 introduces various changes that, as the co-founder said, make lending and borrowing more seamless and cheaper.  According to the protocol, this version is optimized to reduce gas costs by around 20-25% across the board. Users can also move assets across all Aave markets, irrespective of the network. By launching on Ethereum, Harmony users, for example, would be free to transfer assets and participate in Aave V3 markets on the most active platform.  Related Reading: Aave Price Recovers Back To $57, But Threat Of New Attack Looms Over Protocol Aave V3 introduces the “Isolated Mode” where Aave governance can vote to list new tokens as isolated assets with specific debt ceilings. Aave clarifies that the debt ceiling is the maximum USD reading that a borrower’s collateral can cover. Only approved tokens, mostly stablecoins, can be borrowed in this mode. Feature image from Canva, Chart from TradingView

Can AAVE replicate the move to $65 as this technical indicator shows…

AAVE newsTechnical outlook suggested an AAVE revival due to the RSI state Holders  in the last six months seemed to have gained balanced but AAVE might trend downwards Like its peers, non-custodial liquidity protocol, AAVE, ended the year 2022 on a sluggish note. According to CoinMarketCap, AAVE’s value on 31 December was around $52. This was […]

Will Aave’s resolve to halt Ethereum loans be a successful rescue mission

Open-source liquidity protocol, Aave [AAVE] resolved to stop loaning Ethereum [ETH] ahead of the fast-approaching Merge. A vote was held between 30 August and 2 September for the same. A large number of the community supported the suspension. On 23 August, Block Analitica, a Defi research, and analysis company led the Aave community in proposing the […]

The story of AAVE V3 and its mild success you don’t know about

The arrival of AAVE V3 was anticipated across the crypto space for the barrage of improvements it introduced. But due to the ongoing bear market that followed since its launch, its growth hasn’t been up to the mark. AAVE V3 is yet to gain prominence Notably, V2 was launched in December 2020. After all the […]

Is AAVE on the way to surpassing Lido DAO’s $6.4b TVL

The biggest lending protocol AAVE successfully survived the April to June crash. Of late, the momentum of the market has changed. And, AAVE has been climbing up the price charts. In fact, the protocol and the token have been showing signs of a positive movement.  AAVE climbing up the ladder Currently, the closest competitor to […]

Decoding AAVE’s ride from $111 to $98 and its 24-hour tale

With price retracement underway in the cryptocurrency market, Bitcoin climbed above the $30,000 strategic price region during intraday trading on 6 June. The altcoin ecosystem was also impacted by these gains. Interestingly, on Monday (6 June) the AAVE token broke past its crucial resistance level of $104 and proceeded to register a high of $111 […]