Aave (AAVE) is a decentralized finance protocol that aims to facilitate lending and borrowing of cryptocurrencies. The name Aave, meaning "ghost" in Finnish, was adopted in September 2018, replacing its original name, ETHLend, which was launched in November 2017. AAVE tokens serve dual purposes on the platform: they provide holders with discounted fees and act as a governance token, allowing owners to participate in the future development of the protocol. The protocol was founded by Stani Kulechov, a serial entrepreneur with a background in law and programming, who sought to create a lending application on the Ethereum blockchain.

Aave operates by allowing users to lend and borrow approximately 20 different cryptocurrencies. Lenders receive yields by depositing digital assets into specially created liquidity pools. Borrowers, on the other hand, can use their crypto as collateral to take out a flash loan using this liquidity. One of Aave's unique features is its "flash loans," which are uncollateralized loan options that must be paid back within the same transaction. Additionally, Aave allows borrowers to switch between fixed and variable interest rates, providing flexibility based on market conditions.

Aave seeks to cater to individuals already engaged in the cryptocurrency community, offering a range of services beyond Ether lending. Its unique selling points include the ability to lend and borrow in a variety of cryptocurrencies, offering users a variety of choices. The platform's flagship product, "flash loans," are the first uncollateralized loan options in the DeFi space, providing a specific use case. Furthermore, the ability to switch between fixed and variable interest rates allows borrowers to switch between fixed and variable interest rates during volatile market conditions.

Aave, initially known as ETHLend, was launched in November 2017 by Stani Kulechov. The platform underwent a rebranding in September 2018, adopting the name Aave. An initial coin offering was held in November 2017, raising $16.2 million by selling one billion AAVE tokens. In July 2020, Aave conducted a token swap, swapping the 1.3 billion AAVE tokens in circulation for the newly minted AAVE cryptocurrency at a ratio of 1:100. Aave's open-source protocol is built on Ethereum, a blockchain that transitioned from Proof-of-Work to Proof-of-Stake.

We update our Aave to MXN currency in real-time. Get the live price of Aave on Coinbase.

The current market cap of Aave is MX$35.571B. A high market cap implies that the asset is highly valued by the market.

The all-time high of Aave is MX$12,466.14. This all-time high is highest price paid for Aave since it was launched.

Over the last 24 hours, the trading volume of Aave is MX$2.998B.

Assets that have a similar market cap to Aave include Pepe, MemeCore, OKB, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Aave is 15 million.

Aave ranks 46 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

Currently, 82% of Coinbase users are buying Aave. In other words, 82% of Coinbase customers have increased their net position in Aave over the past 24 hours through trading.