AAVE/USD

Trade AAVE to US Dollar - AAVE/USD chart

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Aave (AAVE) to USD is a major trading pair. Not only is AAVE an important emerging DeFi cryptocurrency, the US dollar is the most traded fiat currency in the world.

The AAVE/USD price can move up or down in a trend direction, but it can also move sideways if there is a lack of trading volume. The AAVE/USD exchange rate experiences occasional price swings along with breakouts or breakdowns.

The AAVE to USD pair may fluctuate by around 5% within a 24-hour period. Over a 30-day period traders can expect volatility of up to 10% for the AAVE to dollar trading pair.

Aave overview

Aave, originally called ETHlend was launched in 2017, however the rebranding occurred in September 2018. The crypto was founded by Stani Kulechov with the mission to create a protocol that allows people to lend and borrow crypto.

Targeted at individuals already engaged in the crypto space, Aave allows people to earn interest by depositing digital assets into liquidity pools. Individuals who need to borrow can use their crypto as collateral to take out a loan using this liquidity.

Aave coin holders gain access to discounted fees as well as giving them a say in future development of the protocol.

Aave allows individuals to lend and borrow in about 20 cryptocurrencies. Individuals can also choose whether to pay interest either in fixed or variable rates.

Facts about Aave

  • AAVE supply is fixed at 16 million.
  • There are 13.23 million AAVE currently in circulation
  • Aave is currently valued at $4.31bn
  • AAVE tokens have been built based on the ERC-20 standard on Ethereum

In 2017, Aave raised $16.2 million in an initial coin offering (ICO) for its AAVE token.

The AAVE to Dollar price has skyrocketed since the beginning of 2021. From lows of $27.8 in November 2020, AAVE price rose to $632.27 in May 2021. Despite dipping to $186.97 at the end of June, the AAVE price has since rebounded. As of mid-November 2021, the price of AAVE hovers around $325.62.

Which factors affect Aave's value?

The factors affecting Aave value can be divided into two groups- Aave-specific factors and factors affecting the cryptocurrency market as a whole.

Aave-specific factors:

  • Future developments, upgrades and technological improvements.
  • Competition from other DeFi platforms including Bitstreet Technologies, CoolBitX, Primechain.
  • Aave-related sentiment

 

General factors related to the crypto world:

  • Changes in regulatory laws regarding the legality and usage of cryptocurrencies
  • Speculative trading

 

USD overview

In the AAVE to dollar pair, AAVE is the base currency, and the USD is the counter currency. This means the chart shows how much AAVE is worth as measured against the USD.

The US dollar is the world’s most influential currency. It makes up 59% of all central bank foreign reserves. The greenback also dominates the forex market. It is involved in 85% of all forex transactions.

The strength of the US dollar has been directly affected by the monetary policy adopted by the US Federal Reserve after the 2007 financial crash. Fears around inflation have caused concern among investors regarding future devaluation of the dollar. The hit to the US economy as a result of the pandemic has also weakened the greenback.

If you are interested in AAVE/USD pair trading, you should keep a close watch of crypto market news as well as updates from the Fed regarding monetary policy changes.

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AAVE/USD price history

Date Close Change Chg% Open Min. Max.
2022-09-30 302.057 -6.053 -1.96 308.11 295.664 309.119
2022-09-30 308.39 -6.169 -1.96 314.559 291.587 347.079
2022-09-30 314.539 -20.131 -6.02 334.67 305.522 341.314
2022-09-30 334.69 24.071 7.75 310.619 310.284 336.084
2022-09-30 310.639 -8.753 -2.74 319.392 304.485 320.888
2022-09-30 319.382 24.530 8.32 294.852 285.218 323.403
2022-09-30 294.882 5.916 2.05 288.966 284.826 300.867
2022-09-30 288.946 1.602 0.56 287.344 255.511 296.131
2022-09-30 287.294 0.647 0.23 286.647 283.992 295.261
2022-09-30 286.667 1.456 0.51 285.211 279.524 293.147
2022-09-30 285.191 4.529 1.61 280.662 276.556 300.294
2022-09-30 280.592 -12.170 -4.16 292.762 272.751 299.191
2022-09-30 292.692 -13.578 -4.43 306.27 275.254 311.885
2022-09-30 306.28 -34.754 -10.19 341.034 305.259 342.774
2022-09-30 340.914 -0.178 -0.05 341.092 335.256 354.571
2022-09-30 340.992 -10.034 -2.86 351.026 338.68 351.987
2022-09-30 350.956 0.997 0.28 349.959 338.471 360.488
2022-09-30 349.949 17.317 5.21 332.632 316.42 355.375
2022-09-30 332.612 14.131 4.44 318.481 317.551 338.87
2022-09-30 318.561 10.945 3.56 307.616 305.441 321.708
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