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Aave v3 launched on Polygon, Fantom, Avalanche, targets Ethereum network next

  • Aave price posts double-digit gains, launches third version of its protocol across six networks ahead of deployment on Ethereum mainnet. 
  • Aave V3 is now available on Polygon, Fantom, Avalanche, Arbitrum, Optimism and Harmony. 
  • Analysts believe Aave price could push out of the falling wedge in continuation of its uptrend. 
Aave v3 launched on Polygon, Fantom, Avalanche, targets Ethereum network next
Ekta MouryaEkta MouryaFXStreet

Aave protocol launches its third version across six cryptocurrency networks, making DeFi mainstream. The DeFi lending platform’s token AAVE has posted over 14% gains following the launch of the protocol on Polygon, Fantom, Avalanche and other blockchains. 

Aave V3 is set to launch on the Ethereum mainnet 

DeFi lending platform Aave has launched V3, the third version of its protocol, a long-awaited update across six crypto networks. The latest version of Aave, V3, tackles security, decentralization and capital efficiency issues in the older version. 

Aave V3 is now deployed on Polygon, Fantom, Avalanche, Arbitrum, Optimism and Harmony. Aggregators like ParaSwap and crypto portfolio tracker wallet providers, are set to add support for Aave V3. 

The DeFi lending platform’s latest update makes it easier for users to move assets between blockchains, and make transactions cheaper. Users will have limited exposure to “high-risk tokens” that are newly launched, allowing them to borrow specific amounts of these tokens. 

Analysts evaluated the Aave price trend and predicted a continuation of its uptrend. Aave price has posted 14.4% gains over the past 24 hours and 12% over the past week. 

Based on data from cryptocurrency intelligence platform CryptoCapFlow, there is a spike in the total open interest in Aave. A spike in total open interest is historically indicative of the growing adoption of Aave. Total open interest in Aave hit $66.14 million over 24 hours. 

@KaminoCrypto, analyst and trader, set a target at $148.3 for Aave price in the ongoing price cycle. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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