The AAVE cryptocurrency had an increase of 17% in the last 24 hours.
In conjunction with Bybit, Aave will be deployed on the Mantle network.
Aave (AAVE), native cryptocurrency of the lending platform of the same name, experienced a significant rebound in its price, reaching an increase of 17% in the last 24 hours. This increase came after a triple strategic alliance was announced between Aave, Mantle, an Ethereum layer 2 network, and digital asset exchange Bybit.
The price of the crypto asset took off from $162 to $193as seen in the graph. This reflects market optimism at the prospect of greater accessibility and depth of liquidity for decentralized finance (DeFi).
This alliance seeks connect the liquidity of the centralized exchange Bybit, with the decentralized functionality of Aave on the Mantle network. The fundamental objective of the partnership is to “promote the accessibility of DeFi and unlock new on-chain liquidity channels for a broad spectrum of users globally,” the statement says.
As Criptopedia (educational section of CriptoNoticias) explains, DeFi are financial ecosystems that do not require a centralized institution to function. This means that, instead of depending on traditional intermediaries, they allow different operations to be carried out directly between people through smart contracts.
The central plan is that Aave will be implemented directly on the Mantle network, integrating its decentralized lending protocols into an infrastructure designed to host institutional applications and manage real-world assets (RWA).