AAVE, the native cryptocurrency of the Ethereum-based decentralized custodial platform Aave, has staged a strong recovery surging past $100 today. As of press time, the AAVE coin price is trading 12% up at $100.27 with a market cap of $1.49 billion.
Why Is the Aave Coin Price Soaring?
As per the latest report, the governance proposal has been the major reason behind the AAVE surge. This governance proposal plans to bring a fee switch along with a token buy-back program.
Mark Zeller, the founder of the Aave-Chan Initiative, explained that the AAVE fee switch proposal plans to bring a major change to the Aave protocol‘s revenue model. This will introduce a mechanism in order to collect transaction fees by using the funds to buy back the AAVE tokens from the open market.
Leveraging the introduction of Umbrella,
It’s time to upgrade the $AAVE role in our ecosystem.
Let’s explore this together:https://t.co/70z1jD2pjf pic.twitter.com/He7XPyzkT0
— Marc “Billy” Zeller (@lemiscate
We współpracy z: https://coingape.com/why-is-aave-coin-price-soaring-today/
