Doubling the Value to 100, LEND Reaches the Moon First

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Ethereum-based peer-to-peer lending platform allows users to earn interest from deposits and borrow at a fixed or variable interest rate. At the center of Aave’s business model is LEND, a cryptocurrency symbol that supports the platform’s in-house financing.

As a sellable asset, the LEND price reflects Aave’s emerging decentralized financial growth. And the token did not disappoint its owners until 2020.

The LEND / USD exchange rate rose 1.500 percent this year. Today, the pair’s YTD has reached $ 0.314. LEND likewise gained 30 percent daily against Bitcoin. LEND, which was 29 sathoshi in 2019, increased more than 100 times as of writing and rose to 3110 sathoshi and reached the all-time high against BTC.

Aave (LEND) Rally Beginning

Most of the Aave token earnings this year are coming from a wider crypto bullish trend. In the famous global market crash, where cryptocurrencies jointly lost about $ 200 billion, LEND also fell by almost 73 percent.

However, the Federal Reserve’s open-ended incentive policy helped markets recover in late March. Bitcoin rose from its index in March to 170%. Meanwhile, cryptocurrencies rivaling BTC have reached higher values.

LEND particularly benefited from the evolving DeFi craze. Most of the cryptocurrency tokens included in decentralized finance models rose in three-digit percentages in the second quarter, be it storage, lending, or interest.

Aave also used DeFi hype, which entered the third quarter, explaining the updates in a row. On July 7, the platform’s CEO Stani Kulechov introduced the Credit Representative. The service ensures that borrowers get loans from Aave without showing collateral. LEND / USD exchange rate rose 27 percent one day after the announcement. It experienced minor setbacks as it rose.

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3 Million Dollars Investment

Aave’s last consecutive move caused a huge investment of $ 3 million. The technology-oriented hedge fund Three Arrow Capital and the risk capitalist Framework Ventures deposited the amount in question to Aave in exchange for LEND tokens. According to data provided by Dune Analytics, investment ranked Aave third in the best DeFi projects ranking.


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