- In the last 30 days, the AAVE crypto has given a return of 15.1%.
- The AAVE crypto is trading with flat volume in the last 24 hours.
Aave (AAVE) is a DeFi protocol on Ethereum that allows users to borrow and lend crypto assets, earn interest, and stake tokens. It was created by Stani Kulechov and the Aave team in 2017. It upgraded from LEND to AAVE in 2020.
The market cap of AAVE is $1.376 Billion and the fully diluted market cap is $1.504 Billion. The trading volume for the AAVE coin in the last 24 hours is 114.25 Million.
The all-time high for the crypto is $666.86 and the max supply is 16 Million AAVE. Additionally, the volume/market cap ratio of AAVE crypto is 7.77%, as per CoinMarketCap, and the market cap has declined by -1.45% in the last 24 hours.
The market cap rank for the AAVE crypto is #43 and the market cap dominance is 0.094% and it has increased by +259.60% from its all-time low level.
Financial Data Overview Of AAVE Crypto
The current fully diluted valuation of the AAVE crypto is $1.501 Billion and the annual revenue is $19.51 Million. It can be seen on the charts that the FDV and TVL of the crypto has heavily declined when compared to October 2021. The crypto has not broken the high records since then.
AAVE Technical Analysis
After witnessing a strong downtrend and facing huge decline in the price, the AAVE crypto formed a descending triangle and it has recently broken out above the same. The price is currently consolidating in a small zone and if it breaks above the previous swing high, it can lead to a continuation in the trend.
AAVE/USD Live Chart by TradingView
On the daily charts, the AAVE crypto price is indicating a possibility of retracement in the price. Despite the MACD line being above the zero level, the signal line is above the MACD line.
The EMAs on the daily charts are exhibiting a golden cross of the 50-day and the 200-day EMAs. The price is also above the EMAs but is currently making bearish patterns. This behavior might lead to a retracement for the uptrend in the price.
Conclusion
AAVE is a DeFi protocol that enables users to borrow and lend crypto assets, earn interest, and stake tokens. It is based on Ethereum and has a low supply and a high market cap. AAVE has broken out of a falling wedge pattern and is forming higher highs. It is trading above the EMAs and the MACD is positive. AAVE has a high potential for further growth.
Technical Levels:
- Support levels: $51.20 and $78.30
- Resistance levels: $116.00 and $195.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.