Binance will support the Aave (LEND) token swap to AAVE, with the following timeline: … At 2020/10/10 4:00 AM (UTC), Binance will perform an automatic redemption of all LEND tokens in flexible savings products and move these tokens to user spot wallets.
Beside this, what is lend coin?
One of a number of emerging DeFi cryptocurrencies, Aave is a decentralized lending system that allows users to lend, borrow and earn interest on crypto assets, all without middlemen. … Like other decentralized lending systems on Ethereum, Aave borrowers must post collateral before they can borrow.
People also ask, how much is lend coin worth?
LEND value statistics
|Price to USD||$ 2.94|
|24h volume||$ 7.86 million|
|Market cap||$ 3.82 billion|
|Fully diluted market cap||$ 3.83 billion|
|All-time high (daily avg.)||$ 2.85|
Did lend become Aave?
The migration went live on 2 October 2020. At present, less than two weeks later, over 70.5% of LEND tokens have been voluntarily migrated to AAVE.
You just need to enter the Aave app and go to the migration portal. Then you need to execute 2 transactions to perform the migration: 1. Approve: This is a required transaction prior to the migration allowing the migration contract to move your LEND tokens to migrate them to AAVE.
Per their forecasts, AAVE is set to have a price level of $3,766 by the end of the year while the 5-year forecast predicts AAVE to have a price of $44,000. Long Forecast, too, predicts that the cryptocurrency will have a price of $1,000 by the end of 2021.
What’s driving the price of Aave up? Analysts believe that the rally can be partially attributed to a more generalized influx of capital into the DeFi space in recent weeks. The total value locked (TVL) in the DeFi ecosystem as a whole is currently $26.55 billion; on January 1st, 2020, it was $15.45 billion.
Aave utilizes a lending pool system to execute transactions on its peer-to-peer protocol. When an Aave user wants to deposit cryptos for lending on the Aave platform, they send the coins to the corresponding lending pools. It is from these pools that Aave loans out funds to the borrowers on the platform.
The Aave price can go up from 502.047 USD to 1291.700 USD in one year.
However, many experts believe that Chainlink’s growth potential is still immense. The point is that Chainlink differs from purely speculative projects and is much safer as it can bring substantial returns. The cryptocurrency is equally suitable for long-term and short-term investments.
LEND ($LEND) Token
Often referred too as ETHLend, the LEND cryptocurrency token has rolled over to become the native token of Aave following the winding-up of operations by ETHLend in January this year.