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Aave price hits 3-week high as ‘Aave Pro’ debuts for institutional lending

Published 07/06/2021, 07:36 AM
Updated 07/06/2021, 09:20 AM
Aave price hits 3-week high as ‘Aave Pro’ debuts for institutional lending
AAVE/BTC
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AAVE/USD
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ETH/USD
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Aave hovered near its three-week high on Tuesday, helped by the prospects of its foray into the mainstream through the launch of an institutional lending platform.

Dubbed as Aave Pro, the platform expects to become a “permissioned liquidity protocol” by offering institutions, corporates and fintech clients access to decentralized finance (DeFi). That said, it would follow strict regulations while onboarding participants, ensuring that their Ethereum addresses are safe-listed following a thorough Know Your Customer process.

Aave and Bitcoin prices almost moved in sync after they bottomed out on June 22. Source: TradingView
AAVE/BTC could hit 10,593 sats in the coming sessions. Source: Scott Melker, TradingView
AAVE/USD falling wedge setup. Source: TradingView

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