Aave (AAVE) Price
Source mode: Binance public market data
Reference price
+0.28% in 24h
Market capitalization
$2.35B
24h trading volume
$18.99M
24h range
24h price trend
Hourly closes over the last 24 hours
About this asset
What is Aave?
Aave is a decentralised lending protocol where users supply crypto to earn interest or borrow against collateral, and AAVE is the token used to govern it and back its safety reserves.
As of 5 November 2026 at 12:01 UTC, Aave (AAVE) was priced at $132, up 0.28% over 24 hours, according to Binance public market data. Prices differ between exchanges; confirm on your chosen venue.
- Origin
- ETHLend, 2017
- Founder
- Stani Kulechov
- Max supply
- 16 million AAVE
- Main network
- Ethereum, plus many other chains
From ETHLend to a lending market
Stani Kulechov started the project in 2017 as ETHLend, a platform matching individual lenders and borrowers. Matching proved slow, so the team rebuilt it around shared liquidity pools and renamed it Aave, the Finnish word for ghost. The pooled version launched on Ethereum in January 2020.
In 2020 the original LEND token was converted into AAVE at a rate of 100 LEND to 1 AAVE, with total supply set at 16 million.
Collateral, interest rates and liquidations
Suppliers deposit assets into pools and receive interest-bearing tokens. Borrowers lock collateral worth more than their loan and pay a variable rate that rises as a pool's assets are lent out. If the value of collateral falls below a set threshold, anyone can repay part of the loan and claim collateral at a discount, a process known as liquidation.
Aave also introduced flash loans, which are borrowed and repaid within a single transaction, and issues its own stablecoin, GHO. Depositors receive aTokens, which track their balance plus accrued interest and can be transferred or used in other DeFi applications. The protocol has been deployed on many networks besides Ethereum. Aave V4, which uses a hub-and-spoke design to pool liquidity across markets, went live on Ethereum mainnet in March 2026.
AAVE holders vote on risk parameters, supported assets and the treasury. AAVE can also be staked in the Safety Module, where it can be used to cover shortfalls if the protocol takes bad debt.
AAVE and DeFi conditions
AAVE tends to respond to the level of borrowing demand, revenue earned by the protocol and broader appetite for DeFi. Sharp market falls can trigger waves of on-chain liquidations, which test the protocol's risk settings.
Smart contract risk, oracle failures and governance disputes are the specific hazards for a protocol of this kind, alongside the usual volatility of a mid-sized altcoin. Governance votes on fee distribution or treasury spending can also move the token, since they change how protocol income flows.
Frequently asked questions
What does the AAVE token do?
AAVE is used to vote on governance proposals and can be staked in the Safety Module to help backstop the protocol.
Can I borrow on Aave without collateral?
Ordinary loans require more collateral than the amount borrowed. Flash loans are the exception, but they must be repaid in the same transaction.
What is the maximum supply of AAVE?
AAVE has a maximum supply of 16 million tokens.