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The crypto asset management giant Grayscale has launched a new trust that offers investors exposure to the decentralized finance (DeFi) protocol Aave (AAVE). The crypto firm’s new product is solely invested in Aave’s native token and functions like the company’s other single-asset trusts. Aave, which launched back in 2017, aims to serve as a decentralized liquidity protocol for lenders and borrowers. Rayhaneh Sharif-Askary, Grayscale’s head of product and research, says in a press release that the project has “the potential to revolutionize traditional finance.” “By leveraging blockchain technology and smart contracts, Aave’s decentralized platform aims to optimize lending and borrowing while removing intermediaries and reducing reliance on human judgment.” In a bid to diversify its investment offerings, Grayscale has launched a flurry of new products recently, including trusts for the payments altcoin XRP, the layer-1 Et...

A closely followed crypto strategist believes that one decentralized finance (DeFi) altcoin is gearing up for “explosive” rallies. Pseudonymous analyst Altcoin Sherpa tells his 215,400 followers on the social media platform X that the native token for lending platform Aave (AAVE) could soon spark another leg up after trading in a range for weeks. “AAVE’s true move coming again soon. I caught it [on September 8th] but am out (just as a scalp). I think a more explosive move is going to come though…lots of compression. Of course, we need BTC to play nice first but eyes on AAVE.” Source: Altcoin Sherpa/X AAVE is trading for $137 at time of writing, up more than 11% in the last 24 hours. Next up, the analyst says he is turning bullish on Solana (SOL) competitor Sui (SUI). He says that SUI may dip to the Fibonacci retracement level at $0.87, presenting a good entry point for bulls. “$0.87 would be a good entry for SUI.”...

The AAVE team has been trying to expand to different blockchains. The team recently launched the much-awaited GHO stablecoin on February 9, 2023. According to the recent details from a temperature check that was released, the team has laid down a proposal to begin phase 2 of AAVE integration on Starknet . The voting for the proposal will conclude on April 11. AAVE’s proposal defines a 2-stage integration The proposal outlines a two-phase integration plan between Aave and Starknet . The first stage, which involves setting up a cross-chain bridge between Ethereum and Starknet , has been granted community approval. The proposal also aims to complete the second stage by fully integrating the AAVE protocol into Starknet . Also read: Elon Musk’s Twitter Updates its Logo to Dogecoin, DOGE Price Spikes The team stated in the proposal: “Following the successful completion of phase 1, we are now ready to propose a temperature check for the implementation of phase 2: the full deployme...