The AAVE community is voting on a proposal to expand Aave V3 on the BNB Chain to tap ‘into the growing DeFi ecosystem and user base of BNB Chain.’
The proposal added:
Upon approval by the Aave community, Aave V3 will be deployed on the BNB Chain with a selection of suitable assets for collateral, including BNB, WBTC, BETH, WETH, USDC, and USDT. This deployment aims to enhance the growth and collaboration between the Aave and BNB Chain communities, providing new opportunities for both ecosystems.
Aave Would Access the BNB Chain’s User Base, DeFi ecosystem and Potential Value
In terms of the motivation for the proposal, AAVE community member Marc Zeller, who initiated the idea, stated that AAVE would benefit from BNB Chain’s ‘user base, DeFi ecosystem, and potential additional revenue.’
In return, the BNB Chain would benefit from adding ‘a flagship DeFi project like Aave, further diversifying DeFi options available to its users.’
AAVE/USDT Could Retest $81.9
Concerning price action, news of the potential deployment of AAVE on the BNB Chain has had a slight bullish effect on its price. The one-day AAVE/USDT chart below, courtesy of Tradingview.com, shows that the digital asset is firmly above the 50-day (white), 100-day (yellow) and 200-day (green) moving averages.
In addition, the daily MFI (green), MACD and RSI (red) are yet to signal exhaustion, hinting that a push to the $81.9 resistance could be in the pipeline for AAVE/USDT.
If the $81.9 resistance is turned into support, AAVE/USDT could well be on a path towards retesting the $90 resistance area in the following days.
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