Coin Bureau Is Bullish on ‘Amazing’ DeFi Project Aave ($AAVE)

by Guillermo Jimenez
7 ways to make with crypto

Coin Bureau Is Bullish on ‘Amazing’ DeFi Project Aave ($AAVE)

The host of popular crypto market commentary show Coin Bureau says that he is considering adding the decentralized finance (DeFi) altcoin $AAVE to his portfolio. 

$AAVE is the governance token of Aave, which is “a decentralised non-custodial liquidity market protocol where users can participate as depositors or borrowers.” Depositors “provide liquidity to the market to earn a passive income,” while borrowers “are able to borrow in an overcollateralised (perpetually) or undercollateralised (one-block liquidity) fashion.”

$AAVE is “used to vote and decide on the outcome of Aave Improvement Proposals (AIPs).” Furthermore, $AAVE can be “staked within the protocol Safety Module to provide security/insurance to the protocol/depositors.” Stakers “earn staking rewards and fees from the protocol.”

In a YouTube video released on July 11, Coin Bureau’s host “Guy” said that he has become more interested in non-custodial liquidity protocol Aave due to the project’s upcoming stablecoin launch. He called the project “amazing,” and highlighted the impact of launching its own decentralized stablecoin, which he thinks is “really, really exciting news.”

As reported by The Daily Hodl, Guy said, 

I know some of you will be rolling your eyes at the thought of another decentralized stablecoin after what happened with the last one. But I think Aave is a really, really interesting project at the moment.

Guy claimed that he had yet to buy any $AAVE tokens, but was considering adding the altcoin to his investment portfolio. 

The Coin Bureau host also gave updates on his predictions for the current market, saying that the bear phase could continue into 2023 and beyond. Guy gave the caveat that it was difficult to predict how long the bear market would last, but that it would be at least until the end of the current year. 

Guy warned investors that the downturn in prices could last “for quite a while yet,” including extending into 2024 and the next Bitcoin halving. He explained that investors should be taking a long-term approach to their decision-making, and to potentially prepare for a protracted bear cycle. 

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