$BTC $ETH $SOL AAVE Price Chart Is ‘one of the Most Promising,’ Crypto Analyst Says

AAVE token price has remained in a narrow range since 2022, but some analysts believe that it could be ripe for a breakout as the accumulation continues.

AAVE (AAVE) was trading at $97.75 on Thursday, Aug. 8, up by 100% from its lowest point in 2022 but much lower from its all-time high of $708.

AAVE token is in an accumulation phase

AAVE’s recent gains is likely due to the market better understanding the network’s popularity and profitability. Data by DeFi Llama shows that AAVE is the third-biggest player in the decentralized finance industry with over $10.7 billion in assets.

It also generates substantial fees as the third most-profitable DeFi platform and has generated over $222 million fees this year. AAVE makes most of its money from the interest rate spread between what it pays to lenders and what it charges its borrowers. It also makes money through flash loans and liquidation fees. 

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