• Aave (AAVE) is a cryptocurrency launched in 2017 as ETHLend.
• The current market status of AAVE shows a 24-hour trading volume of $75,207,290 and a circulating supply of 14,524,022 AAVE.
• The bullish price prediction for 2023 is between $62.79 to $85.85, while the bearish price prediction for 2023 is $39.52.
Introduction
Aave (AAVE) is a decentralized lending platform on Ethereum blockchain that allows users to create and access liquidity pools for crypto-assets and real-world assets. It was launched in November 2017 as ETHLend, with its native governance token AAVE providing voting rights to its holders to participate in the protocol’s governance and also deploy AAVE tokens as collaterals in the Aave protocol.
Current Market Status
At the time of writing, Aave (AAVE) ranks 44th on CoinMarketCap in terms of its market capitalization with a current price of $56.24 and 24-hour price change of 3.52% down along with 24-hour trading volume at $75,207,290 and market cap at 817,292,089 USDT with circulating supply 14,524,022 AAVE . All-time high recorded by Aave at $666.86 on May 19th 2021 whereas all-time low was recorded at 26.02 USDT on Nov 5th 2020 .
Price Prediction 2023
The technical analysis done using RVOL , MA & RSI , ADX & RVI showed an outlook of descending channel which suggests that there are chances of further fall in prices below this channel before any recovery can be expected upto midyear 2021 . Bullish price prediction for 2023 stands between 62.79 – 85.85 USDT whereas bearish price prediction stands at 39.52 USDT . Comparison among AAVE , BTC & ETH shows that Bitcoin has outperformed other cryptocurrencies by wide margins whereas Etherum has performed better than Aave during most part of 2020 but since March 2021 it has been recovering steadily towards higher levels .
Price Prediction 2024 – 2030
Based on the technical analysis done over various indicators as well as comparison made between different cryptocurrencies , it suggest favorable conditions for longterm holders who invest now as until year 2025 there will be gradual increase in prices where after 2025 uptill 2030 further steep inclines can be seen .
Conclusion
Based on our analysis we expect that prices are likely to remain flat until midyear 2021 after which recovery can be seen initially followed by further steep inclines from 2025 -2030 leading to significant appreciation in value if held till very long term period . However these predictions should not be taken blindly without consulting financial advisors or conducting own research before investing into any cryptocurrency including Aave (AAVE).