2021-12-19 19:01 |
Aave AAVE/USD is an open-source as well as a non-custodial protocol that allows users to earn interest on deposits where they can borrow assets.
It is known due to the fact that it allows for Flash Loans, which are instantly issued and settled.
The Balancer partnership as a catalyst for growthOn December 15, we covered an official announcement on Twitter that Balancer Labs launched “Boosted Pools,” which will supply excess liquidity to Aave to earn yield.
According to Fernando Martinelli, who is the co-founder and CEO of Balancer Labs, this collaboration with Aave is the first iteration of the Boosted Pools launch.
It represents a natural fit and even solidifies their place in the Balancer ecosystem.
There is a variety of different levels when it comes to Boosted Pool innovations which lead to solid results, a higher level of liquidity, and more efficient integrations for liquidity, a well as higher yields.
Balancer also noted that this is a product that is geared towards finding a solution to the issue of decreased capital efficiency in regards to yields on tokens that are deposited within Automated Market Maker (AMM) pools.
Overall, this has the potential to boost the value of the AAVE token.
Should you invest in Aave (AAVE)?On December 17, Aave (AAVE) had a value of $169.34.
To see what this value point means for the AAVE token, we will go over its all-time high value as well as its performance last month.
The all-time high value of the AAVE token was on May 18, when the token had a value of $661.69.
Here, we can see that at its ATH value point, the token was $492.35 higher in value, or by 290%.
When we go over the performance of the AAVE token in November, its highest value point was on November 9, when the token reached a value of $346.86.
Its lowest value point, however, was on November 28, when the token reached a value of $224.69.
Here, we can see that the token decreased in value by $122.17 or by 35% throughout November.According to data from IntoTheBlock, AAVE saw $139.52 million in transactions greater than $100,000 in the last seven days.
Additionally, we saw $23.03 million in total exchanges inflows and $21.89 million in total exchanges outflows throughout the last seven days.
That said, at its value of $169.34, AAVE is a solid investment opportunity as it has the potential to reach $200 by the end of January 2022.
The post Aave price movement: will the partnership with Balancer increase its value? appeared first on Invezz.
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