Price change (24h):
5.13%
High (24h):
$96.9
Low (24h):
$88.02
Volume (24h):
$274.75M
Market Cap:
$1.41B
All Time High:
85.98% $661.69
May 18, 2021
All Time Low:
257% $26.02
Nov 5, 2020
67.55 %(1Y)
$93.14
Price change (24h):
5.13%
High (24h):
$96.9
Low (24h):
$88.02
Volume (24h):
$274.75M
Market Cap:
$1.41B
All Time High:
85.98% $661.69
May 18, 2021
All Time Low:
257% $26.02
Nov 5, 2020
Aave (AAVE) is a cryptocurrency launched in 2020. It operates as a decentralized, non-custodial money market protocol that has become the largest DeFi lending platform by total value deposited.
The protocol eliminates traditional financial intermediaries. Users deposit assets into liquidity pools to earn variable or stable interest; borrowers draw from those pools by collateralizing their own crypto holdings. Smart contracts on Ethereum enforce loan terms, liquidations, and interest rate models across over twenty discrete cryptocurrencies.
Aave operates on the Ethereum network. Its codebase, entirely open source, orchestrates the matching of lenders and borrowers through algorithmically managed pools rather than order books.
The native AAVE token conforms to the ERC-20 standard and exists as a BEP-20 variant on BNB Chain, alongside deployments on Avalanche, Polygon, Fantom, Arbitrum, Optimism, Base, and several other EVM-compatible environments. The protocol introduced flash loans—uncollateralized borrowings that must be originated and settled within a single Ethereum block—and in 2023 launched GHO, a decentralized stablecoin overcollateralized by deposits within Aave’s own ecosystem.
Stani Kulechov, a Finnish lawyer and coder, founded the project in 2017 under the name ETHLend as a peer-to-peer lending marketplace. In January 2020 the architecture shifted dramatically to a liquidity pool model and the platform was rebranded Aave, the Finnish word for “ghost.” By early 2025, net deposits had swollen to €40.3 billion, and Bloomberg confirmed its status as the dominant decentralized lending venue.
The protocol’s long-term objective revolves around building a globally accessible, permissionless layer for capital markets. It dissolves geographic and regulatory barriers, enabling any internet-connected actor to access credit or earn yield on idle digital assets without identity verification or institutional gatekeeping.
AAVE’s mechanical role is purely governance-driven. The token entitles holders to propose and vote on Aave Improvement Proposals (AIPs), which determine risk parameters, new asset integrations, protocol fee structures, and core upgrades. No other utility—such as fee discounts or staking yields—is embedded by default, concentrating its entire value proposition on shaping the protocol’s evolution via the DAO.
Community members accumulate AAVE specifically to influence the direction of the protocol. A quorum of token-weighted votes can enact changes to collateralization ratios, interest rate models, or capital efficiency levers. In practice, large stakeholders and protocol-aligned organizations shepherd proposals through the DAO’s deliberation stages to ratification on-chain.
Aave has a maximum supply of 16,000,000 tokens. Currently, 15,175,919.86 are in circulation. With a market capitalization of $1,438,786,211, Aave ranks #55 among all cryptocurrencies.
| Date | Open | Close | High | Low |
|---|---|---|---|---|
| 07/07/2026 | $96.26 | $93.98 | $96.26 | $93.58 |
| 06/07/2026 | $88.45 | $96.23 | $96.90 | $88.02 |
| 05/07/2026 | $89.23 | $88.43 | $89.73 | $87.13 |
| 04/07/2026 | $86.98 | $89.32 | $90.04 | $86.98 |
| 03/07/2026 | $86.94 | $87.05 | $90.49 | $85.63 |
| 02/07/2026 | $85.31 | $87.05 | $88.03 | $82.87 |
| 01/07/2026 | $85.16 | $85.34 | $87.33 | $84.73 |
| 30/06/2026 | $91.40 | $85.17 | $91.51 | $85.09 |
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