Aave May Rally 20% Supported by Historical Levels, But Crucial Resistance Remains

Aave's price surged to $88 just two weeks ago, but currently, the altcoin is experiencing a correction. Over the past 24 hours, Aave has dropped over 4%, and on the weekly chart, it has depreciated more than 7%.

Timeline of Aave

ave's Q2 2023 report shows a 9% growth in total value supplied, outpacing the market. Key developments include the launch of GHO stablecoin, a rise in stETH deposits, and the anticipated release of Portals.

Lending and borrowing platform Aave (AAVE) has launched a new decentralized stablecoin on the Ethereum (ETH) mainnet. The dollar-pegged stablecoin, called GHO (GHO), is governed by the Aave decentralized autonomous organization (DAO). Nader Dabit, the director of developer relations at Aave, says that GHO is an “overcollateralized” stablecoin.

Aave Companies has unveiled version two of its Lens Protocol and introduced several new features for the web3 social app. Lens Protocol Now Allows Blocking Lens Protocol's parent organization, Aave Companies, has launched the much-anticipated V2 of the web3 social app.

Aave, a prominent lending protocol within the decentralized finance (defi) sphere, has unveiled GHO, a new stablecoin, which is now live on the Ethereum network. Aave users can now mint the stablecoin asset by leveraging Aave version three (v3).

Decentralized finance (DeFi) platform Aave has recently unveiled its new stablecoin, GHO, on the Ethereum mainnet. GHO is an algorithmic dollar-pegged stablecoin designed to provide stability and transparency to the DeFi ecosystem.

Curve, the renowned decentralized exchange protocol, has introduced the crvUSD/GHO liquidity pool, providing users with increased opportunities for trading and liquidity provision.

Aave DAO, a leading decentralized finance (DeFi) platform, has announced plans to introduce its native decentralized stablecoin, named GHO, on the Ethereum mainnet. This move is aimed at enhancing transparency for users and will involve minting the stablecoin using a diverse range of collateral assets held within the Aave Protocol.

The proposal to launch GHO on Ethereum's mainnet reached quorum after protocol delegate AaveChan voted “Yae” on Wednesday. Aave DAO's community wholly backed the plan as all members of the DAO voted in support with over 698,000 votes at press time.

The Aaave community members are poised to vote on whether to finally deploy gho ($GHO) on the Ethereum chain. Aave is a lending and borrowing platform which recently introduced its own native algorithmic stablecoin, gho.

Aave Companies, one of the primary contributors to the Aave (CRYPTO: AAVE) decentralized finance (DeFi) lending protocol, wants to initiate the decentralized stablecoin GHO as an ERC-20 token on the Ethereum mainnet. Introducing GHO by means of Facilitators enables users of the third version of Aave to create GHO using their collateral, as detailed in the Aave Improvement Proposal, The Block reported.