AAVE Emerges as a Top Performer in the Cryptocurrency Market This Thursday

AAVE emerged as one of the top performers in the cryptocurrency market this Thursday. In the past 24 hours, the token traded between a $265.42 low and a $349.05 high, indicating over 31% price action during the period.

AAVE price performance was among the best in the cryptocurrency market on Thursday. In the past 24 hours, the token traded between a low of $265.42 and a high of $349.05, indicating over 31% price action during the period.

As of 5:00 AM UTC, AAVE has settled within the $346 range to keep around 28% of its gain within the day. Despite the huge pop in its price, the token’s trading volume appeared the same as the previous day, with only less than a 0.5% change in the metrics as it moved $1.3 billion of its assets across wallet addresses.

Meanwhile, the latest developments elevated AAVE’s 15.01 million circulating supply to $5.2 billion.

AAVE has been performing well also in the longer timeframes. So far, its value has accumulated over 41% in a week, 85% in a month, and 281% in a year.

The token has plenty more to go to match its all-time high of $666.86 in March 2021. However, its peak price today has been its highest by far after October 2021.

AAVE Partnership with Balancer

In other news, Balancer (BAL) recently released its V3 version. AAVE’s partnership with Balancer has been the driving factor in its latest price action. The alliance aims to simplify the earnings from swaps and lending markets.

According to Fernando Martinelli, co-founder of Balancer, AAVE’s integration with their platform offers a liquidity solution that’s efficient, scalable, and accessible for decentralized finance (DeFi) players. The boosted pools would channel principal capital to the external yield market to provide a yielding liquidity solution for swaps. It foregoes active management for liquidity providers with a one-click solution to help them optimize their products and easily access DeFi markets.

Stani Kulechov, founder of AAVE, highlighted the same advantages regarding the partnership, particularly the minimized gas costs.

Automated and Customizable Portfolio Management

Balancer’s platform supports automated portfolio management and its trading solutions are compatible with Ethereum (ETH) and other EVM-compatible chains.

Some of Balancer V3’s key features include custom pools for developers to allow faster building of automated market makers (AMMs). The Hooks Framework also expands their functionality.

The Hooks Framework automatically rebalances trading in different market conditions to optimize yield. For instance, the StableSurge Hook can be used to shield stable assets in times of market volatility, again to ensure yields for users.