{"id":431155,"date":"2020-07-17T13:01:08","date_gmt":"2020-07-17T13:01:08","guid":{"rendered":"https:\/\/ktsl888.com\/?p=431155"},"modified":"2020-07-17T13:03:21","modified_gmt":"2020-07-17T13:03:21","slug":"aave-1500-ytd-whats-driving-defi-token","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/aave-1500-ytd-whats-driving-defi-token\/","title":{"rendered":"Aave (LEND) Mounts 1,500% YTD; What’s Pumping This DeFi Token?"},"content":{"rendered":"
Aave has reached the moon before its top cryptocurrency rival, Bitcoin.<\/p>\n
The Ethereum-based peer-to-peer lending platform allows users to earn interest on deposits and borrow assets with a stable or variable interest rate. At the core of Aave’s business model is LEND, a cryptocurrency token that powers the platform’s in-house finance.<\/p>\n
As a tradable asset, the LEND price<\/a> reflects Aave’s growth in the emerging decentralized finance space. And the token has not disappointed its holders so far into 2020.<\/p>\n The LEND\/USD exchange rate surged by 1,500 percent this year. Just today, the pair established its YTD high at $0.314. LEND similarly rose against Bitcoin, the benchmark cryptocurrency that currently sits atop a 30 percent YTD profit. The LEND\/BTC rate jumped 1,168 percent.<\/p>\n <\/a><\/p>\n Much of the Aave token’s gains this year come from a broader crypto uptrend. After the infamous global market rout in the first quarter, wherein the cryptocurrency tokens jointly lost nearly $200 billion<\/a>, LEND too plunged by almost 73 percent.<\/p>\n But the Federal Reserve’s open-ended stimulus policy<\/a> at the end of March helped the markets recover. Bitcoin rose by as much as 170 percent from its March nadir. Meanwhile, it’s rival cryptocurrencies jumped higher on pure speculation.<\/p>\n LEND particularly benefited from the booming DeFi craze. Most of the cryptocurrency tokens involved with the decentralized finance models, be it staking, lending, or custody, surged higher<\/a> in the second quarter by triple-digit percentages.<\/p>\n https:\/\/twitter.com\/mdudas\/status\/82035200<\/p>\n Aave further utilized the DeFi hype<\/a> entering the third quarter by announcing back-to-back updates. On July 7, \u00a0the platform’s CEO Stani Kulechov introduced Credit Delegation, whereby depositors can supply assets like stablecoin USDT to Aave but with an intention to delegate to a borrower.<\/p>\n The service enables borrowers to obtain loans from Aave without showing collateral.<\/p>\n The LEND\/USD exchange rate surged 27 percent a day ahead of the announcement. It experienced minor pullbacks on its way up.<\/p>\n Aave’s latest upside action appeared out of a large $3 million buy order. Tech-focused hedge fund Three Arrow Capital and venture capitalist Framework Ventures invested the said sum into Aave in return for LEND tokens.<\/p>\n Aave looks forward to working with 3 Arrows Capital and @hiFramework<\/a> on our path toward decentralization, including new tokenomics, protocol governance, and insurance fund staking to bolster the protocol's strength in the event of deficits. <\/p>\n Read more: https:\/\/t.co\/inLe9XxJDx<\/a><\/p>\n — Aave Labs (@aave) July 15, 2020<\/a><\/p><\/blockquote>\nLEND leaves Bitcoin behind with a 1,500% price rally. Source: TradingView.com<\/a><\/pre>\n
Beginning of Aave Rally<\/h2>\n
A $3M Buy Order<\/h2>\n
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