Is AAVE token a good crypto to buy today?

    Aave price has been in a strong bullish trend in the past few weeks as demand for blue-chip DeFi tokens has risen. It surged to a high of $83, which was about 25% above the lowest level this month. As a result, its total market cap has grown to more than $1.15 billion, making it one of the biggest DeFi tokens in the world. So, should you buy Aave?

    Is Aave a good buy?

    Aave is one of the biggest DeFi protocols in the world. It is a non-custodial platform that makes it possible for people to borrow and provide liquidity. While Aave is primarily an Ethereum platform, it also operates in other chains like Avalanche, Optimism, Polygon, Arbitrum, Fantom, and Harmony. 

    According to DeFi Llama, Aave has a total value locked (TVL) of more than $5.13 billion. Including the total borrowed, staking, and pool2, the TVL is over $8.22 billion. This is a substantial amount since Aave was started just a few years ago.

    The most recent crypto news was that Justin Sun decided to withdraw about $100 million worth of USDT tokens from the network. This withdrawal was likely connected to a recent ba of Justin Sun for dealing with Tornado Cash. Tornado was sanctioned by the American government because of its privacy features.

    Analysts believe that Aave is a good coin to invest for two main reasons. First, the recent crypto crash has stress-tested the network to the core. This means that it has a higher probability of survival compared to other smaller platforms. 

    Second, the upcoming yield-generation stablecoin will likely be a positive catalyst for the network. The coin, known as GHO, will be used to improve features provided by the lending platform. In addition, it will be offered to users to allow them to mint the token against supplied collateral.

    Aave price prediction

    The daily chart shows that the AAVE price has been in a strong bullish trend in the past few weeks. As it rose, it managed to move above the important resistance level at $80.43, which was the highest level since October 6.

    Aave has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved above the overbought level. Therefore, Aace will likely continue rising as bulls target the next psychological level at $100. A drop below the support at $80 will invalidate the bullish view. 

    How to buy AAVE


    eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in.

    It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest.

    eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

    Buy AAVE with eToro today is a global broker which offers over 200 cryptocurrencies for its users.

    It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets.

    On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

    Buy AAVE with today

    Source link

    Latest stories

    - Advertisement -

    You might also like...