Aave is a protocol for decentralized finance (DeFi) that allows users to borrow and lend crypto assets. Running on the Ethereum blockchain, Aave allows users to earn interest and borrow using smart contracts. AAVE, the native token of the Aave protocol, plays an important role in the governance and security of the platform. AAVE token holders can vote on future developments and updates to the protocol. In addition, AAVE tokens can be staked to contribute to the security of the platform and earn additional rewards.
AAVE, down 1.02% in the last 24 hours and at the time of writing, is among the day's decliners. Giant crypto investors have started moving about $7 million worth of AAVE tokens to different exchanges in recent hours. According to the data, it shows that several big whales are likely to sell their long-held AAVE assets. This movement may have a negative impact on the AAVE price.
