Home » AAVE V2 launch leads to AAVE token exploding in price

AAVE V2 launch leads to AAVE token exploding in price

by Natalie Christie
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AAVE launched Mainnet version 2 last week, bringing an array of exciting features enhancing its cryptocurrency trading platform. The latest version of the protocol substantially augments its performance, all thanks to some attractive improvements in V2.

The V2 launch impacted the AAVE token price sharply, leading to a whopping 15 percent increase in the price.

AAVE Shares Spike Post V2 Launch

The price of the AAVE  kicked tremendously after the announcement of the  V2. AAVE is the native token of the AAVE protocol, and it has seen a considerable transformation in 2020. Initially named as LEND, the token had a 100:1 token split. Leading to stunning response to  V2 announcement, the price of the AAVE coin raised substantially from $83 to $95.  Though, after the sudden spike, the token price corrected slightly , reaching its older level.

AAVE is continuously grabbing the decentralized finance space by offering enhanced lending and trading services to the crypto community. The Mainnet v1 launched at the beginning of 2020 has garnered much popularity taking the AAVE protocol market to over $1 billion. With the introduction of newer features and performance improvement in the V2, AAVE aims to increase its customer base.

Two of the most notable offerings of AAVE Version 2 are Collateral Swap and flash loans. The users would be able to use their deposited assets in all the supported currencies. Collateral Swaps provide better liquidity to the investors and makes it easier for them to use the platform. The AAVE V2 makes repayments easy and allows repayments with the collateral, making the process shorter and more straightforward.

Aave’s development team is highly focused on the safety and security of customer funds. Thus the company involves renowned auditors like Certik, Peckshield, and Consensys Diligence for the audit of AAVE V2 protocol. AAVE announced that the first 100 addresses depositing $100 worth of digital assets on the AAVE V2 protocol would get an AAVE NFT.

The experts predict that the price of AAVE would reach around $100 as the network achieved the benchmark of $1 Million in the generated income.

As listed on the CoinMarketCap, AAVE is currently trading at $90.79, its record high. The company reports a market cap of $1,082.732,161 with a total supply of 16,000,000 AVE tokens. 


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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