Expansion plans and new developments could push Aave price to new highs in 2022

Home » Expansion plans and new developments could push Aave price to new highs in 2022

Expansion to SushiSwap and Curve Finance, launch of a new mobile wallet and gasless voting, all augur well for Aave’s price potential in 2022.

After successfully implementing Gelato Network, Balancer Labs and Uniswap in the year gone by, Aave (AAVE), the open-source DeFi protocol is gearing up for further expansions and developments in 2022. It is all set to expand to SushiSwap and Curve Finance, launch a new mobile wallet and switch to gasless voting for a more inclusive governance, in the new year.

Aave is looking good to record new all-time highs in 2022

The protocol is looking set to scale its network even further in 2022. After deploying successfully on the Avalanche and Polygon networks, there are talks that it might be rolled out soon on the StarkNet too. A recent tweet from StarkWare confirmed this news.

Going live on Avalanche and Polygon helped Aave significantly in expanding its reach. The move increased the DeFi protocol’s user base and boosted its on-chain activity. Its’ genesis team also launched cross-chain bridges, a set of tools that enable true cross-chain governance of the protocol across various networks, from the Ethereum mainnet. Talking more about governance, Aave community is currently working on facilitating gasless voting and ensuring that all its users are involved in the protocol’s governance. 

In addition, Aave V3 which was launched recently is already proving to be the most efficient and robust DeFi liquidity protocol to have seen the light of the day. It offers cross-chain bridging, risk mitigation, and capital efficiency amongst many other features.

Furthermore, a Happy New Year tweet from the Aave team confirmed that a new mobile wallet is in the works as well, and will be launched in 2022.

What experts and charts say?

On the whole, with multiple well-defined and ecosystem-centric targets for the year’s first quarter, AAVE’s price seems to be gaining some good momentum already.

Going by what @Crypto_McKenna, a well-known crypto trader and analyst has to say about its price trend for the next few months, the DeFi token has everything going for it to make a noteworthy upward push, and reach far higher than expected by most traders. He stresses that blue-chip DeFi protocols like Aave would possibly get re-rated during the first quarter. 

If we look at the AAVE/USD daily chart below, all technical indicators confirm a positive outlook for the token’s price. The past two weeks’ candles are well above the 50 SMA, RSI is over 60 and the MACD has been consistently above the signal line, all aligning with a bullish trend. Considering that fundamentals too are on AAVE’s side, you won’t be frowned upon if you choose to go long on it right now.  

AAVE/USD Daily Price Chart. Source: TradingView

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