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AAVE Has Set A New Price High

26 January 2021 13:25, UTC
Anna Martynova

DeFi token asset, Aave (AAVE), has been on the rise for several weeks. The asset managed to hit a new all-time high of almost $290. However, then the price dropped to $251 at the time of this writing. Since the beginning of the year, the price of AAVE has increased by 194%.

Analysts explain the rise in the price of the AAVE token to the influx of capital into the DeFi space in recent weeks. The total value locked (TVL) in the DeFi ecosystem is currently $26.55 bln, on January 1, 2020 it was worth $15.45 bln. TVL AAVE is valued at approximately $3.83 bln, while on January 1, 2020, it was worth $1.99 bln.

Since Aave is a landing platform whose token listings include a number of tokens in the DeFi space, AAVE's use and popularity is growing along with the popularity of other assets in the DeFi ecosystem. Aave's most popular products are "flash loans", which the company launched 12 months ago. To date, more than $1.7 bln have been provided by "flash loans".

Image: Coincodex