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Can AAVE sum up enough bullish pressure to retain $100

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After delivering an impressive upside of more than 100% since mid-June, AAVE struggled to stay above the $100 price level. However, AAVE bulls might be ready for other take-over thanks to the latest development involving its new stablecoin.A few weeks ago, AAVE announced plans to roll out its own native stablecoin called GHO.

The decentralized network revealed in its latest update that it had commenced a snapshot in readiness for a community vote on a GHO proposal.If the proposal is approved, AAVE might extend its upside fueled by strong demand by investors looking to benefit from the resulting opportunities.AAVE revealed through an official statement,“This snapshot, if approved, will assign the Ethereum V2 Market on the Aave Protocol as the first facilitator for GHO, whilst also greenlighting the GHO proposal more generally.”AAVE’s price action yielded a bullish performance shortly within the same 24 hours that the snapshot announcement was made.

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