Aave’s current price as of 2022 July 8 on Friday is 71.3092 USD. Our price forecasting engine suggests that the closing price of Aave might be approximately 68.6383 USD tomorrow based on the most recent price fluctuations. We project that by the end of 2022, the price of Aave might reach 191.295 USD based on historical price data. Additionally, it can be 210.424 USD exactly one year from now.
Last week AAVE Price Prediction In India 2022
This pattern denotes the beginning of an uptrend in the price trend. We can infer from the preceding chart that the downtrend’s momentum is slowing down.
Aave (AAVE) is currently trading at $65.3. The price of AAVE might hit the resistance levels of $74.0, $117.70, $166.3, and $259 if the pattern holds.
Aave Price Today in India is ₹ 5,664.91 with a 24-hour trading volume of ₹26,28,81,82,807. In the last 24 hours, AAVE-INR price has increased by 14.15%. Aave CoinMarketCap rank is 51. The circulation supply of Aave is 1,39,36,259.154750612AAVE coins, with maximum circulating supply being unlimited.
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Latest News On AAVE in India July 2022
AAVE plans to release the GHO stablecoin with excessive collateral.
Although the project is currently merely looking for feedback, GHO would allow users to borrow the stablecoin while still learning yield on their locked assets on Aave.
GHO would be an Ethereum-based, decentralised stablecoin tied to the US dollar (USD), collateralized with a variety of assets of the user’s choice, according to the governance proposal revealed on Thursday.
Users would need to mint GHO against their deposited collateral in order to acquire it, although the list of supported collateralized assets and the collateral ratio have not yet been made public.
Users are effectively borrowing stablecoins from their holdings, hence the position must be overcollateralized much like an Aave loan would be.
“With community support, GHO can be launched on the Aave Protocol, allowing users to mint GHO against their supplied collaterals. GHO would be backed by a diversified set of crypto-assets chosen at the users’ discretion, while borrowers continue earning interest on their underlying collateral.”
The adoption of the stablecoin would also benefit holders of the staked AAVE token (stkAAVE), as Aave Companies has proposed that they would also be allowed to mint and borrow GHO at a reduced price.
The team added that, if everything goes according to plan, an audit would take place over the following few weeks. “If the community votes positively for the deployment of the protocol creating the ability for users to mint GHO, a recommended starting interest rate and discount rate will be proposed,” the team stated.
Stani Kulechov, the founder of Aave, revealed on Twitter that the group has a more expansive ambition for the USD-pegged asset:
“While GHO would be secured by the assets on the Ethereum market, the main vision for GHO is to pursue organic adoption via L2s to solve real life payment opportunities across the internet and on-ground.”
Aave is an automated DeFi protocol that enables users to lend and borrow digital assets without needing to go through or obtain approval from a centralized intermediary. The latest proposal to the DAO has coincided with Aave’s native token AAVE gaining 15.04% over the past 24 hours to sit at $72.31 at the time of writing.