One of the notable crypto analysts believes that Away, a decentralized lending and lending platform, will pick up after the bear market settles down.
Anonymously known as Guy A Coin Bureau Host, informs its 2.08 million Youtube subscribers that AAVE is undervalued during the ongoing market crisis.
The analyst says, according to Etherscan, AAV Network Reserve currently owns only 1.7 million AAVEs. Etherscan, on the other hand, says that the number of AAVE coin owners is on the rise. According to the analyst, this is due to the sharp drop in the retail price of the AAVE token, which has now become more attractive to shareholders who are not concerned with the market cap.
Furthermore, analysts talk about the feedback during a previous YouTube clip, disagreeing that the AAV was not actually devalued because its ticker valuation went up after the AAVE went down. He advises his audience to look at market capitalization, not value.
GHO Stablecoin Will Drive Aave Price
Guy believes that the latest AAVE stablecoin, GHO, will drive demand for the cryptocurrency and what makes a difference is the relative lack of requirements for the AAVE token.
Guy believes that the usefulness of the AAVE token is currently limited to governance and stake, and it also offers an attractive advantage, albeit with a slightly higher risk.
Meanwhile, talking about the positive aspect, the researcher pointed out that most of the production of Ava is in circulation, which means that there is not much sales stress left, and this is the reason for allocating interest rates to Ava from the GHO stablecoin. appears to be the main reason. Treasure. This helps mitigate the bearish impact of the AAVE token while ensuring the long-term viability of the protocol.
According to Guy, the launch of the GHO stablecoin could also increase the price of AAVE as it would allow AAVE holders to hedge GHO at near-zero interest rates. Cautioning his views, the analyst says that a bullish overall bet in Ava could lower the price, weakening the value of Ava.
According to the researcher, several factors such as the breakdown of energy and supply chains, increased inflation and increased aggregate supply contributed to the loss of more than 70% of its importance in January, which culminated in a bearish market at $40 million. ,
Cow believes that the bearish trend will have little effect on the upside prices, but that will change only when the bear market ends.
The Guy claims that Av’s expected growth progress will not modify the reality that we are currently in a crypto selloff. However, he says that after the coming bull run, they will help propel the Aave currency to incredible heights, especially if the GHO stablecoin gains widespread acceptance.