We’re going to take a look at two rising stars in the world of cryptocurrency, AAVE and Klaytn. Let’s delve into which one might be a better pick for your portfolio.
First off, let’s tackle AAVE. Currently priced at $165, this crypto has a market worth of $2.6 billion based on its 24/7 trading volume of $1.1 billion. It stands 18th according to CoinMarketCap and has its roots in Finland since 2017, led by a team of 8, headed by CEO Stani Kulechov.
What’s cool about AAVE is that it’s more than a regular cryptocurrency. In the Ethereum blockchain, AAVE acts as collateral for users who want to borrow. Essentially, if you have AAVE, you can lend it out through their service and earn interest. There’s also an option to use it to trade other cryptocurrencies. So, not only is your investment growing, but you’re also earning a passive income off it!
Now, onto the price. It’s been a steady climb for AAVE, now nearly reaching $200. With the whole DeFi space blowing up, AAVE has caught the wave and surged from $30 in January to $400 in December—an impressive 1300% increase! There’s a good amount of buzz around it potentially even hitting $1000 by the end of 2022. Its partnerships with big players like Coinbase and Binance also add credence to its continued growth.
Shifting focus to Klaytn. Just a tad cheaper than AAVE, Klaytn stands at $0.2681. This South Korean blockchain product is developed by Ground X, an arm of mobile behemoth Kakao. The idea behind Klaytn is to make blockchain accessible and easy-to-use for everybody.
Klaytn had a rocking start in June 2019 with 12 partner companies onboard, including LG Electronics and Binance. It’s designed to be efficient and capable of handling large chunks of transactions—a strong selling point. KLAY, Klaytn’s native token, can be used for fees, governance, and staking.
Though not as stratospheric as AAVE, Klaytn has been on a steady climb since its launch and is forecasted to reach $5 by the end of 2020. Some even predict it soaring to $10 by the end of 2021.
In the end, before investing, always do your research. Both AAVE and Klaytn show promise, but the crypto world can be unpredictable, so make sure you make informed decisions.