Aave Price Prediction 2024: Can AAVE Recover From Crash?
What's next for AAVE?
Key Takeaways
- Aave recently announced its V3 upgrade.
- The Aave network is designed to allow people to both make and take loans in crypto.
- Can AAVE respond well to the news or will it continue its recent downturn?
- One AAVE price prediction says it can reach $342.79 next year.
Aave had a strong end to 2023. The token’s investors will be paying attention after the Aave community approved its V3 upgrade.
In 2023, the platform launched its GHO stablecoin, a crypto designed to be worth $1 at all times. The initial launch saw a price spike, but then the market corrected itself, leading to things being much the same as they were before GHO came out.
Interesting times were ahead in August and September as a fork of AAVE, called Seamless Protocol , came out.
The AAVE token went back above $100 in late February. On April 26, 2024, Aave was worth about $90.15.
Aave did not immediately respond to a request for comment.
But what is AAVE? How does Aave work? Let’s see what we can find out, and also examine some of the Aave price predictions that were being made as of April 26, 2024.
Aave Price Prediction
Let’s take a look at some of the Aave price predictions that were being made on March 1, 2024.
We need to remind you here that price forecasts, especially when they are for something as potentially volatile as cryptocurrency, are highly likely to be wrong. It is also worth noting that many long-term crypto price predictions are made using an algorithm, which means they can change at a moment’s notice.
| 2024 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $198.07 | $233.19 | $676.98 |
| Prediction #2 | $252.59 | $342.79 | $793.84 |
| Prediction #3 | $95.19 | $151.59 | $209.13 |
First, CoinCodex made a short-term Aave price prediction, which suggested a small rise over the next month or so. The site said the token would trade at to $118.02 by MAy 1 before reaching $298.69 on May 25. The site’s technical analysis was bearish, with eight indicators sending bullish signals compared to 21 making discouraging ones.
Aave Price Prediction for 2024
DigitalCoinPrice argued AAVE would reach $198.07 this year, while Bitnation said it would get to $252.59. CoinPriceForecast , on the other hand, said the crypto would close 2024 at $95.19.
Aave Price Prediction for 2025
CoinPriceForecast said AAVE reach $151.59 by the end of 2025, while Bitnation had it rise to $342.79. DigitalCoinPrice said it would be worth $233.19 next year.
Aave Price Prediction for 2030
Looking at a more long-term AAVE price prediction, Bitnation said it would be worth $793.84 in 2030. DigitalCoinPrice suggested it could trade at $676.98 that year. CoinPriceForecast said the price would stand at $209.13 by the end of the first year of the next decade.
Google BardAI Price Prediction for Aave (as of April 26)
Google’s BardAI platform gave the following price prediction for Aave on April 26. Please remember that price predictions are very often wrong, and that artificial intelligence should not be trusted.
Short-term (Next three months):
- Expected Price: $316.59
- Reasons:
- Bearish sentiment: Technical indicators and market trends currently suggest a downward trend.
- Macroeconomic uncertainty: Potential for market corrections due to global economic factors.
- Limited upside potential: Lack of major catalysts in the near term.
Medium-term (Next six months):
- Expected Price: $271.18
- Reasons:
- Gradual recovery: Potential for market stabilization and renewed interest in DeFi.
- Adoption of Aave features: Increased use of lending/borrowing functionalities across Aave protocol.
- Overall DeFi growth: Positive trajectory of the DeFi sector could benefit Aave.
Long-term (2026 – 2030):
- Expected Price: $1,953.921
- Reasons:
- Widespread DeFi adoption: Potential for DeFi to become a mainstream financial tool.
- Aave’s strong foundation: Established protocol with robust features and growing community.
- Technological advancements: Innovations in blockchain technology could further incentivize Aave usage.
Additional factors to consider:
- Regulatory landscape for DeFi
- Competition from other lending protocols
- Overall performance of the cryptocurrency market
It added: “These are just predictions based on current information and market trends. Cryptocurrencies are highly volatile and unpredictable, so any forecasts should be treated with caution.
“Investing in any cryptocurrency involves risk. Do your own research and consult with financial professionals before making any investment decisions.”
Recent Updates From Aave
The Aave community approved the V3 upgrade in January 2024. The new protocol will allow liquidity to transfer between different networks with a new function called Bridge.
AAVE Price History
Let’s now take a quick look at some of the Aave price history . While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can give us some very useful context if we want to either make or interpret an AAVE price prediction.
When AAVE first came onto the open market in October 2020, it was worth about $42. In early 2021, the token’s price rose with a flourishing market and, on 18 May that year, it reached an all-time high of $666.86. Things fell down after that, though and by the end of the year, it was worth $265.50.
After a positive 2021, things got worse in 2022. The token found itself at the mercy of a massively bearish market and was below $200 by the end of January.
There was a recovery in March, but a series of market crashes hit it hard, with it falling to less than $50 in June. Although the later summer saw it recover, the collapse of the FTX exchange was a blow and it closed the year at $51.98, an annual loss of more than 80%.
AAVE in 2023 and 2024
2023 was a more encouraging year for Aave. The token rallied at the start of the year, breaking past $90 in February, but it has since slid down. The crash following the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges was a blow, though, and AAVE sank to a low of $49.12 on June 15.
The token has since made something of a recovery and, on July 10, Aave was worth about $72. The launch of GHO on July 15 saw it reach a high of $82.19 but things settled down. The downturn became a crash after Elon Musk’s SpaceX sold millions of dollars worth of Bitcoin, and AAVE fell to $51.57 on September 11.
The last few months of 2023 saw something of a recovery for Aave, which peaked at $129.22, its best price since May 2022, on December 28. The crypto closed the year at $109.06, representing an annual rise of nearly 110%.
The new year saw both the market and Aave falter somewhat and, on January 29, the token was worth about $92.05. It recovered past $100 in February. By April 26, 2024, AAVE was worth about $90.15.
At that time, there were 14.8 million AAVE in circulation out of a total supply of 16 million. This gave the token a market cap of about $1.33 billion, making it the 67th largest crypto by that metric.
Aave Price Analysis
AAVE reached its yearly high of $155 on March 12. This was part of the uptrend that started in mid-June last year when it established a support plateau around $50. This uptrend made a breakout and formed a five-wave pattern, indicating the start of a new bull phase.
Since March 12, AAVE has fallen, reaching a low of $72 on April 13. It then recovered by 35%, reaching a high of $98 on April 22.
If the previous uptrend was the first sub-wave of the larger bull cycle, the downturn from its March peak was the first bull market correction. The daily chart Relative Strength Index came down to the oversold zone on April 13.
We could now expect to see AAVE continuing its recovery, which can be turned into a more significant uptrend, as it could be starting its higher degree third wave. Our first target would be at around $115. If it continues climbing, that would mean AAVE is heading to a new yearly high in which case we would be looking at a price target above $200.
Is Aave a Good Investment?
It is hard to say. AAVE did well while the market rallied, but we don’t know how long things will last.
On the other hand, Aave is a pretty reputable, steady crypto lending platform. It has managed to avoid getting caught up in its own crises, even if it is not immune to what the overall market does.
As always with crypto, you will have to do your own research.
Will Aave go up or down?
No one really knows. While the price predictions are broadly optimistic in the long run, price predictions are very often wrong. You should also remember that prices can, and do, go down as well as up.
Should I invest in Aave?
Before you invest in Aave, you will need to do your own research, not only on AAVE but on other, similar, coins and tokens, such as KAVA. You will need to make sure you never invest more money than you can afford to lose.
Who is the Founder of Aave?
Crypto entrepreneur Stani Kulechkov founded Aave, then called ETHlend, in 2017.
Who Owns the Most AAVE Tokens?
On April 26, 2024, a wallet containing staked AAVE held 17.15% of the token’s supply.
Richest AAVE Wallet Addresses
As of April 26, 2024, the five wallets with the most AAVE were
- 0x4da27a545c0c5b758a6ba100e3a049001de870f5. This wallet held 2,744,367 AAVE, or 17.15% of the supply.
- 0xa700b4eb416be35b2911fd5dee80678ff64ff6c9. This wallet held 1,122,228 AAVE, or 7.01% of the supply
- 0xba12222222228d8ba445958a75a0704d566bf2c8. This wallet held 1,000,696 AAVE, or 6.25% of the supply.
- 0x25f2226b597e8f9514b3f68f00f494cf4f286491. This wallet held 858,103 AAVE, or 5.36% of the supply.
- 0x4a49985b14bd0ce42c25efde5d8c379a48ab02f3. This wallet held 790,366 AAVE, or 4.94% of the supply.
- ..
Fact Box
| Supply and distribution | Figures |
|---|---|
| Maximum supply | 16,000,000 |
| Circulating supply (as of April 26, 2024) | 14,751,306 (92.2% of maximum supply) |
| Holder distribution | Top 10 holders owned 55% of maximum supply as of April 26, 2024 |
From the Whitepaper
Aave’s whitepaper says that the platform originally worked on a peer-to-peer (p2p) basis, but switched to pool-based lending in 2020, with interest rates calculated by an algorithm.
It says: “Lenders provide liquidity by depositing cryptocurrencies in a pool contract. Simultaneously, in the same contract, the pooled funds can be borrowed by placing collateral. Loans do not need to be individually matched, instead they rely on the pooled funds, as well as the amounts borrowed and their collateral.”
Aave (AAVE) Explained
One of the biggest concepts in the world of crypto is that of decentralized finance (DeFi). This is the idea that people can access traditional financial services without having to go through centralized institutions, such as banks. The Aave crypto lending platform is just one of many examples of a DeFi network.
Aave – the Finnish word for ghost – was founded as ETHlend in 2017 by. Rebranding the following year, the system was an attempt to create a transparent place where people could make and take out loans.
The AAVE token powers the Aave network, which is based on the Ethereum blockchain.
How Aave Works
On the Aave system, people are able to lock their crypto into liquidity pools, which pay interest. People who want to take out loans, usually in stablecoins, can put in the crypto they hold as collateral.
The AAVE cryptocurrency pays interest to people who deposit their crypto in the liquidity pools. Holders are also able to vote on changes to the network’s operations, such as deciding which cryptos can be used for loans. People can also buy, sell, and trade it on exchanges.
Because Aave is based on Ethereum, AAVE is a token, rather than a coin. You might see references to such things as an Aave coin price prediction, but these are wrong.
Aave Attention Tracker
Here is a chart for Aave Google search volume for the past 90 days. This represents how many times the term “Aave” has been Googled over the previous 90 days.
FAQs
It could do, but if it does, it won’t be for a while. DigitalCoinPrice and Bitnation both say the token could reach four figures in 2031. Keep in mind that its highest-ever price, $666, which it reached in May 2021, is considerably less than that. The AAVE crypto supports the Aave crypto lending platform, and can be staked to help the system’s liquidity. It can also be bought sold and traded on exchanges.Will AAVE reach $1,000?
What is AAVE used for?
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
