[According to OKX market data, AAVE broke through 370 USDT, currently quoted at 371 USDT, with a 24H increase of 18.06%.] AAVE's price has soared to a historic high!
The price of AAVE, from over $80 at the beginning of the year, has soared to $376, currently ranking 34th in market capitalization, with nearly a fivefold increase, providing very high returns. Let's see why this leading project has surged!
I. Project Introduction
Aave (AAVE) is an innovative decentralized lending and deposit protocol based on smart contract technology on the Ethereum blockchain. The protocol allows users to lend and deposit without intermediaries, as well as earn interest on a decentralized platform.
Full token name: Aave
Token abbreviation: AAVE
II. Token Economics
The total supply of Aave tokens is 16 million. All tokens are unlocked, with a current circulation of 13.9 million, and the remaining 2.1 million deposited into the ecosystem fund. The distribution of Aave tokens demonstrates Aave's true decentralization.
Most crypto projects reserve a large proportion of the total supply of tokens for the founding team, advisors, and investors. The Aave token is fully decentralized, with no centralized entity or group holding a large amount of tokens.
However, it is important to note that Aave was once distributed in a centralized manner and operated as such; the protocol reached its current decentralized state after several years of transition. In 2020, the protocol officially handed over governance keys to the community (Aave officially transferred the governance keys to the DeFi community).
$AAVE's largest holder is the security module, which represents the amount of tokens staked by token holders. The second largest holder is the ecosystem reserve fund. The maximum amount held by a single address for $AAVE exceeds 250,000, accounting for 1.6% of the circulating supply. This extremely low ratio ensures true democratic voting, meaning no single holder (or even a group of holders) can quickly achieve a majority to execute their will. Compared to its biggest competitor, the Compound protocol, Aave protocol's level of decentralization is undoubtedly inspiring, as the founding team and investors of the former still hold about 50% of the total token supply.
III. Token Details
As of the deadline, AAVE's current price is $376.22, with a 24-hour increase of 17.1%. The trading volume in the past 24 hours is $3,116,481,946, which is an increase of 155.2% compared to a day ago, indicating a recent surge in market activity. AAVE's highest price was $661.69, while its lowest price was $26.02. AAVE's current total market capitalization is $5.675 billion, ranking 34th on CoinGecko today. Currently, AAVE has achieved significant growth, becoming the asset with the largest increase among the top 100 crypto assets, driven by bullish momentum across the market.
IV. Conclusion
In summary, Aave's rise to industry prominence has its successes. According to the research of the senior auditing firm Gauntlet, Aave has a constantly evolving ecosystem, a well-designed economic incentive plan, and a secure smart contract architecture.
Currently, not only can we pay attention to AAVE, but we can also learn more about LINK tokens, as LINK's recent performance is also good!
Disclaimer: All information in this article is for communication and sharing purposes only and does not constitute any investment advice. Please comply with the relevant laws and regulations in your area. Refusal to invest is at your own risk.
