• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
lend, bitcoin, aave, cryptocurrency, crypto, lendbtc, lendusd

Aave (LEND) Mounts 1,500% YTD; What’s Pumping This DeFi Token?

Yashu Gola by Yashu Gola
3 years ago
in Cryptocurrency news, Technical analysis
Reading Time: 2 mins read
Advertisement
Advertisement
  • Aave, an Ethereum-based peer-to-peer lending platform, has emerged as one of the top investments in 2020.
  • On Friday, the project’s native token, LEND, was trading 1,500 percent higher on a year-to-date (YTD) timeframe.
  • Its parabolic rally appeared following a long string of positive fundamentals, including a $3 million inbound investment.

Aave has reached the moon before its top cryptocurrency rival, Bitcoin.

The Ethereum-based peer-to-peer lending platform allows users to earn interest on deposits and borrow assets with a stable or variable interest rate. At the core of Aave’s business model is LEND, a cryptocurrency token that powers the platform’s in-house finance.

As a tradable asset, the LEND price reflects Aave’s growth in the emerging decentralized finance space. And the token has not disappointed its holders so far into 2020.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

The LEND/USD exchange rate surged by 1,500 percent this year. Just today, the pair established its YTD high at $0.314. LEND similarly rose against Bitcoin, the benchmark cryptocurrency that currently sits atop a 30 percent YTD profit. The LEND/BTC rate jumped 1,168 percent.

lend, bitcoin, aave, cryptocurrency, crypto, lendbtc, lendusd

LEND leaves Bitcoin behind with a 1,500% price rally. Source: TradingView.com

Beginning of Aave Rally

Much of the Aave token’s gains this year come from a broader crypto uptrend. After the infamous global market rout in the first quarter, wherein the cryptocurrency tokens jointly lost nearly $200 billion, LEND too plunged by almost 73 percent.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

But the Federal Reserve’s open-ended stimulus policy at the end of March helped the markets recover. Bitcoin rose by as much as 170 percent from its March nadir. Meanwhile, it’s rival cryptocurrencies jumped higher on pure speculation.

LEND particularly benefited from the booming DeFi craze. Most of the cryptocurrency tokens involved with the decentralized finance models, be it staking, lending, or custody, surged higher in the second quarter by triple-digit percentages.

.@naval on DeFi:

"The things that Wall Street does for 20% of the GDP of the United States will be done for 1% of the GDP in cryptoland."https://t.co/hTZcGcT7pM pic.twitter.com/W5lXfu4q80

— Mike Dudas (@mdudas) July 16, 2020

Aave further utilized the DeFi hype entering the third quarter by announcing back-to-back updates. On July 7,  the platform’s CEO Stani Kulechov introduced Credit Delegation, whereby depositors can supply assets like stablecoin USDT to Aave but with an intention to delegate to a borrower.

The service enables borrowers to obtain loans from Aave without showing collateral.

The LEND/USD exchange rate surged 27 percent a day ahead of the announcement. It experienced minor pullbacks on its way up.

A $3M Buy Order

Aave’s latest upside action appeared out of a large $3 million buy order. Tech-focused hedge fund Three Arrow Capital and venture capitalist Framework Ventures invested the said sum into Aave in return for LEND tokens.

Aave looks forward to working with 3 Arrows Capital and @hiFramework on our path toward decentralization, including new tokenomics, protocol governance, and insurance fund staking to bolster the protocol's strength in the event of deficits.

Read more: https://t.co/inLe9XxJDx

— Aave (@AaveAave) July 15, 2020

The investment pushed Aave to the third spot of the top DeFi projects, according to data provided by Dune Analytics. LEND’s net worth now stands $33,00 below its all-time high.

Tags: aavebitcoincryptocryptocurrencyLENDlendbtclendusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Cardano Stands Out in Robinhood’s Top Movers List For The Week

Cardano Stands Out In Robinhood’s Top Movers List For The Week

11 hours ago
Solana NFT Trading Volume Declines Following y00ts Migration To Polygon

Solana NFT Trading Volume Declines Following y00ts Migration To Polygon

12 hours ago
ViaBTC|LTC Halving Preview: Will DOGE Mining Income Be Affected by It?

ViaBTC|LTC Halving Preview: Will DOGE Mining Income Be Affected by It?

13 hours ago
ripple

Ripple Releases 1 Billion Tokens From Escrow, XRP Declines By 5%

13 hours ago
Bitcoin uptrend

Bitcoin Market Structure Points To New Uptrend, Here’s Why

1 day ago
Monero

Monero Price Stagnates, How Soon Will It Cross This Obstacle?

1 day ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    1 week ago
  • Crypto Investment for Long Term Growth in 2023

    1 week ago
  • 5 Cryptocurrency To Invest In 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • Ripple XRP Price Prediction 2023 – 2025 plus 5 Tokens...

    4 hours ago
  • Ethereum Price Prediction 2023 – Why This New Meme...

    8 hours ago
  • Discover Big Eyes Coin And Optimism As They Continue To...

    11 hours ago
  • Ethereum’s Shanghai Upgrade Goes Live April 12...

    11 hours ago
  • Metacade’s Presale Raises an Astounding $15.4m...

    13 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.