Coin Bureau, a popular crypto YouTube channel, is the decentralized lending and borrowing protocol of the future. aave (AAVE) is evaluating what it will bring for him.
In a new video, pseudonymous analyst Guy tells his 1.87 million YouTube subscribers that the decentralized finance (DeFi) industry in general is experiencing a decline compared to the rest of the crypto markets and is ready to come out of it.
“The AAVE token has performed poorly and has only doubled since the start of 2021. Since the crypto market crashed in May of last year, nearly every DeFi token has struggled to keep up with the rest of the market.
This is because the hype is against NFTs. [non-fungible token] it looks like it’s slipping. It, [AAVE kurucusu ve CEO’su] Something Stani Kulichov also acknowledged in a panel discussion in October.
[CEO]Basically, he stated that DeFi is very exciting and often gives a lot of gain, but it is too complex for the average person to grasp.
Meanwhile, NFTs get hype and gain on par with the other, and it’s a concept that almost anyone can grasp.”
Last year, Aave started a massive rally on May 18, climbing from under $100 to an all-time high of $660, but then dropped more than 70 percent to $184 at the end of June. Having climbed above $400 by mid-September, the altcoin closed the year in a downtrend, excluding a rally that took AAVE from $180 to $255 at the end of December.
The Coin Bureau host states that Aave’s upcoming V3 upgrade should increase interest in the project.
“The most important upcoming milestone is the release of Aave V3, which will bring many new features to the Aave protocol.
The first is a feature called Poral that allows lenders and borrowers to transfer tokens deposited in Aave V3 on one blockchain to Aave V3 on other blockchains.
The second feature, called the high efficiency mode or e-mode, makes it possible to significantly increase the credit-to-value ratio for certain assets…
[14:50] The third feature of Aave V3 is Isolation Mode, which allows new tokens to be added to the Aave protocol while minimizing risks to the rest of the protocol.”
Guy also talks about Aave’s plans to shape the future of social media by launching a decentralized social media platform where users cannot be censored or deleted.
[17:20] “Aave’s social media platform, your social media profile, and any other content you create on Aave’s platform will be built to be portable to other decentralized social media platforms spawned on Ethereum, making censorship virtually impossible.
As for giving a specific date for the departure time; Aave has announced that the social media platform is coming ‘soon’ and its rollout has been slow as the team has been mostly focused on Aave v3 for the past few months…
[AAVE CEO’su] Stani believes that decentralized social media will be the next popular niche after NFTs.”
The analyst ends the video by sharing his price predictions for AAVE:
“A market cap of just $3 billion means that AAVE is undervalued five times its value. This too [AAVE’in] means it can have a fair value of more than $1000.”
At the time of writing, AAVE is trading at $218.89, up nearly 3 percent on the day.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.