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AAVE to USDT Converter
1 AAVE = 131.9474 USDT · updated 06:21 UTC
Volume Bubbles Chart (1h)
Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.Seasonal Chart
Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.Aave Markets
Aave Historical Data
About Aave (AAVE)
Aave is a decentralized lending protocol. People deposit crypto to earn interest, and others borrow against their own deposits as collateral. Smart contracts, not a bank, run these loans. AAVE is the protocol's governance token, with a fixed supply of 16 million. The project grew out of an earlier platform called ETHLend, whose LEND token was swapped for AAVE at 100 LEND per AAVE. On this page, AAVE's price is a blend of quotes from several major exchanges, calculated by FMchart.
Borrowing against collateral
Loans on the protocol are overcollateralized, so a borrower must deposit more value than they take out. If the collateral falls in value and a loan becomes too risky, part of it can be sold in a liquidation to repay lenders. Interest rates move with supply and demand in each market. Aave also issues GHO, a dollar-pegged stablecoin that users mint against their collateral.
V4 and the hub-and-spoke design
Aave V4 went live on Ethereum on March 30, 2026. It uses a hub-and-spoke design. Liquidity sits in central hubs named Core, Prime and Plus, each serving a different kind of user. Separate markets, called spokes, connect to those hubs with their own collateral and liquidation rules. The goal is to add new kinds of lending without splitting liquidity into many small pools. Aave said all three hubs launched with conservative supply and borrow caps on purpose, as part of a security-first approach.
Buybacks and governance
Holders vote on risk settings, fees and spending, either directly or by delegating their votes. In late 2025, the DAO made a buyback program permanent, with a budget of up to $50 million a year. The plan allowed weekly purchases of $250,000 to $1.75 million, depending on market conditions. In late June 2026, Aave switched to an automated system it calls Aavenomics 3.0. It uses protocol revenue to buy AAVE on the open market. As of September 2026, the purchased tokens were held in a reserve rather than burned.
The 2026 revenue framework
In March 2026, a proposal from Aave Labs called Aave Will Win passed an early temperature-check vote with about 52.6% support. Critics said votes from addresses linked to Aave Labs tilted that result. A revised version passed a binding on-chain vote on April 12, 2026, with about 75% support. Under the framework, revenue from Aave-branded products such as the Aave App goes to the DAO treasury. In return, Aave Labs receives a $25 million stablecoin grant plus 75,000 AAVE vesting over four years.
Risks for users and holders
Smart contract bugs, faulty price oracles and sudden crashes can all cause losses in lending markets. New V4 code adds fresh risk even after audits. Borrowers using high leverage can be liquidated within minutes in a fast market. Governance votes can be close and contested. The token's price also moves with the wider crypto market and with demand for borrowing, which tends to fall when trading activity slows.
Last reviewed: Oct 8, 2026
Aave (AAVE) FAQ
What is Aave?
Aave is a decentralized lending protocol where users deposit crypto to earn interest or borrow against collateral. Smart contracts handle the loans, and AAVE holders govern the system. It runs on Ethereum and several other networks and also issues a stablecoin called GHO.
How does borrowing on Aave work?
Borrowers first deposit collateral worth more than the loan they want. They can then borrow other assets, paying a variable interest rate set by supply and demand. If the collateral's value drops too far, part of it is sold in a liquidation to protect lenders. This makes sudden price falls a key risk.
What is AAVE trading at today?
AAVE trades at about $131.73 on FMchart's composite price. Around $43.09M worth of AAVE traded in the last 24 hours across the exchanges in FMchart's composite. The figure blends several major venues, so one exchange may quote a slightly different number at any moment.
What is Aave V4?
Aave V4 is the fourth major version of the protocol, launched on Ethereum on March 30, 2026. It pools liquidity in three hubs, called Core, Prime and Plus, and connects separate markets to them as spokes. Each spoke can set its own collateral and liquidation rules.
How many AAVE tokens exist?
About 15,436,703 AAVE are in circulation, out of a fixed maximum of 16 million. That gives a market capitalization of about $2.03B and a market-value rank of 47. Because no new tokens are minted, changes in market cap come almost entirely from price.
What is GHO?
GHO is a dollar-pegged stablecoin issued by the Aave protocol. Users mint it by borrowing against collateral they have deposited, and repay it to unlock that collateral. Like other loans on Aave, a GHO position can be liquidated if the collateral falls too far in value.
Does Aave buy back AAVE tokens?
Yes. In late 2025, Aave governance made a buyback program permanent, with a budget of up to $50 million a year. In late June 2026, Aave moved to an automated system called Aavenomics 3.0, which uses protocol revenue to buy AAVE on the open market. As of September 2026, bought tokens were held in a reserve.
How high has AAVE ever traded?
AAVE's record price is $661.69, set on May 18, 2021. The token has gone through long bull and bear phases as DeFi activity rose and fell. A record high is a historical marker, not a target. The Price Statistics panel shows how far today's price sits from it.
How has AAVE performed over time?
In FMchart's composite price history (since December 2020), AAVE recorded its best month in January 2021 (+239.2%) and its worst in June 2022 (-49.4%). It finished the year higher in 3 of 5 full calendar years. The Annual Price (USD) Change table lists each year in full. None of this predicts what comes next.
What are the risks of using Aave?
The biggest risks are smart contract bugs, wrong oracle prices and fast market crashes that trigger liquidations. Borrowers can lose part of their collateral. New code such as V4 adds fresh risk, and governance can change key settings by vote.