AAVE's rise or fall in TVL in the next few days could have a stablecoin connection 

Aave, one of the leading lending protocols in the crypto industry, just completed voting on a proposal that would have it deployed on zkSynch. zkSync happens to be a zero-knowledge protocol test net and the deployment was approved by a wide margin with the aim of enabling quicker and less expensive transactions.

Timeline of Aave

On 2 November, the Aave community voted to deploy the protocol on the zkSync 2.0 testnet. The proposal was originally presented by the Aave team in order to extend the decentralized lending service to the Ethereum roll-up's testnet.

Aave founder Stani Kulechov joined Dan Roberts and Stacy Elliott to talk about his vision for the next iteration of DeFi, Aave V3 and Lens Protocol, the Web3 company he wishes he had founded, and why now is the right time for the $5B lending protocol to launch its GHO stablecoin. Watch Episode 22 of the gm podcast and make sure to subscribe on Apple or Spotify.

Legacy financial institutions are embracing crypto and decentralized finance (DeFi), and the Ethereum-based protocol Aave is proof. Today, the team behind the protocol announced that banking giant JP Morgan Chase completed its first DeFi transaction.

Data from on-chain analytics platform Santiment revealed that October was marked by a rally in AAVE's network activity. This rally culminated in the altcoin registering a daily high of 495 new addresses on 30 October.

This November, Transak, a leading Web3 onboarding infrastructure provider, became the only on-ramp integrated by AAVE. Aave is a decentralized non-custodial liquidity market protocol that allows users to participate as borrowers or depositors.

The live trade is the first of Singapore's Project Guardian pilot, which aims to explore the potential of DeFi applications in wholesale funding markets. The post Singapore leverages Polygon and Aave in first DeFi wholesale markets transaction appeared first on The Block.

As  of 31 October, Aave had been experiencing a surge in its Total Value Locked (TVL), according to statistics from DefiLlama. Following the initial release of the protocol, the team went on to develop versions 2 and 3.

The Aave price analysis is going through a loss as the price underwent a decline up to $83.47 today. The downtrend has been quite constant since yesterday, and even today, the price has followed a downward movement.

Dogecoin has managed to smash above $0.072 for the first time in ten weeks, coinciding with the breakout of Ethereum. With repeated rallies and downtrends in bigger coins, it's an open challenge for the lesser-known coins to gain market traction.

Aave price analysis shows a bearish trend as the token is currently unable to break above the $85.13 resistance. This follows a recent bearish run that saw AAVE drop from highs of $88.00 levels.