← All assets
Finance without a bank · Watchlist
AAVE — Aave
An automatic bank counter: deposit money and earn interest, or borrow money against collateral.
What it is for
- Set out to
- Interest-bearing lending and collateralized borrowing without an intermediary.
- Today in addition
- Its own stablecoin GHO, the institutional market Horizon, a retail app, V4 on the testnet.
- Notable
- A lending protocol with its own stablecoin, a real-world-asset market and a consumer app under one governance.
- Strength
- Largest deposit base in the lending segment.
- Weakness
- Revenue depends on demand for leverage.
Contract address
Chain: Ethereum
0x7Fc66500c84A76Ad7e9c93437bFc5Ac33E2DDaE9
Unabridged and deliberately not linked: a blockchain explorer that we have not checked would be a statement we cannot support.
Score
59of 100
Market capitalization
$1.98Bas stored
against Bitcoin, 90 days
—not against the dollar
CoinMarketCap
#7278numeric identifier
Supply cap checked at the contract, not enforced in code. The token sits behind an upgradeable contract (EIP-1967 proxy, implementation AaveTokenV3). Whoever controls the administrator can swap the implementation — including any cap inside it. Criterion 1 is therefore capped at eight points; the score thus stood at 58 out of 100 on September 4, 2026 and stands at 59 out of 100 after the recalculation of criterion 10 on September 5, 2026. This asset is not in the sector barometer.
The four cycles
Measured on daily closing prices, never on daily highs or lows. The cycle boundaries are Bitcoin’s own highest and lowest daily closes: January 14, 2015, December 16, 2017, December 15, 2018, November 8, 2021, November 21, 2022, October 6, 2025 and the current low on June 30, 2026. A day counts only if at least ten thousand dollars were traded on it. The price against Bitcoin is given in satoshi — one satoshi is one hundred-millionth of a bitcoin.
| Cycle | Lowest daily close | Highest daily close | Rise low → high | Fall high → low |
|---|
| 2015 to 2017January 14, 2015 to December 16, 2017 | did not yet exist |
| 2018 to 2021December 15, 2018 to November 8, 2021 | $75.03283,407 satDecember 26, 2020 | $628.501,466,500 satMay 18, 2021 | in dollars +$553.47 (+737.6%)against Bitcoin +417.5%from $75.03 on December 26, 2020 to $628.50 on May 18, 2021 | in dollars -$441.72 (-70.3%)against Bitcoin -59.7%from $628.50 on May 18, 2021 to $186.78 on June 25, 2021 |
Only partly measured: reliable trading only from December 15, 2020. What lay before that in the window is not recorded; the figures above are the endpoints of the measured part, not those of the whole cycle. |
| Year by year |
| 2020: in dollars +1.2% (from $87.51 to $88.57) · against Bitcoin -32.1% |
| 2021: in dollars +264.7% (from $91.12 to $332.31) · against Bitcoin +58.8% |
| 2022 to 2025November 21, 2022 to October 6, 2025 | $50.10195,933 satJune 15, 2023 | $382.85404,001 satDecember 23, 2024 | in dollars +$332.75 (+664.2%)against Bitcoin +106.2%from $50.10 on June 15, 2023 to $382.85 on December 23, 2024 | in dollars -$257.65 (-67.3%)against Bitcoin -59.4%from $382.85 on December 23, 2024 to $125.20 on April 8, 2025 |
| Year by year |
| 2022: in dollars -7.0% (from $55.79 to $51.89) · against Bitcoin -11.3% |
| 2023: in dollars +108.3% (from $52.13 to $108.59) · against Bitcoin -18.2% |
| 2024: in dollars +165.1% (from $116.23 to $308.14) · against Bitcoin +25.6% |
| 2025: in dollars -6.9% (from $319.20 to $297.23) · against Bitcoin -29.5% |
| since 2026, ongoingJune 30, 2026 to September 17, 2026 | $83.14138,656 satJuly 1, 2026 | $141.53182,080 satAugust 23, 2026 | in dollars +$58.39 (+70.2%)against Bitcoin +31.3%from $83.14 on July 1, 2026 to $141.53 on August 23, 2026 | in dollars -$22.04 (-15.6%)against Bitcoin -13.8%from $141.53 on August 23, 2026 to $119.49 on September 16, 2026 |
| Year by year |
| 2026: in dollars +51.1% (from $85.03 to $128.52) · against Bitcoin +15.9% |
If the high of a window comes before the low, the rise is calculated from the low to the next interim high within the same window.
The four questions that are always answered
Net supply and issuance pressure8 of 20
Starting valuation and size leverage6 of 14
Survivability8 of 12
Relative strength against Bitcoin4 of 6
the score is calculated from all twelve criteria. What the twelve questions measure and what has been corrected about the measurement is on the method page.
The remaining criteria are not recorded individually for this asset; the total comes from the assessment of September 5, 2026.
The figures in detail
Price, as stored$128.04
against Bitcoin, 7 days—
against Bitcoin, 30 days—
listed on CoinMarketCap sinceOctober 2020
Age since listingnot researched
Fees relative to valuationnot determined
Supply still lockednot researched
hard supply capno
Carried by Nexocarried
Trading venues of 15 checked15 of 15
The fifteen largest centralized exchanges by the CoinMarketCap ranking were counted, as of September 5, 2026. Decentralized exchanges do not count. Bybit is not included in any figure, because the venue was not reachable through sixteen address forms. Which five venues are the best for each asset has not been collected yet.
Finding
The age of the predecessor token is not counted; this will be decided on December 8, 2026. The report of September 3, 2026 counts the age of LEND from 2017 for criterion 3 and arrives at twelve points; version 4 of the assessment model does not know that rule, which is why eight points for 5.9 years are shown here. The supply cap of 16 million is secured only by governance (upgradeable proxy), not by immutable code; criterion 1 is therefore 8 instead of 20, as with BNB. The 74 points of the report thus become 58 out of 100 as of September 4, 2026; after the correction of September 5, 2026 it is 59 out of 100. The only asset of the second Nexo run with measurable user growth: plus 6.40 percent active addresses, but only 0.69 per million dollars of valuation.
Investors and partners: not researched — awards no points, because projects with large backers did not perform better.
Nexo: Carried by Nexo — purchase page documented on September 1, 2026.
No investment advice, no price forecast, no buy or sell recommendation. A high score does not mean “will rise”. It means the asset scores better on these questions than the others.