2020-8-18 22:57 |
The biggest gainer of 2020 Aave (LEND) has hit a new all-time high today at $0.58.
The 27th largest cryptocurrency by market cap of $736 million that has recorded 6,380% returns YTD is in the double-digits green today.
The protocol also has a record of $1.145 billion of total locked value, as per DeFi Pulse.
As IntoTheBlock notes, this decentralized lending protocol “has been on a tear this year.”
Besides price, LEND’s large transaction volume hit an-time high as well at $148 million last week, which “points to institutional interest picking up for Aave.”
Aave has already been a “DeFi VC darling” with the sale of $3M worth of LEND tokens to crypto funds Three Arrows Capital and Framework Ventures. About a week before that, it had secured $4.5 million investment from ParaFi.
The tremendous success of Aave, previously known as Eth.Lend, has been more than just speculative, as it grew to be a $1 billion market with innovations like flash loans, credit delegation, and stable rates.
Additionally, as we reported, just over the weekend, the decentralized money market protocol announced Aave V2, which will be venturing into debt, collateral, and margin trading.
Interestingly, it is also planning the tokenization of all kinds of assets, and collaboration with RealT is reportedly already in the works.
The latest version will also include transition to governance and transaction fee optimizations.
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