The post AAVE: Will the $50mln buyback plan repeat the 50% price surge? appeared com. Key Takeaways Why has Aave made token buyback official? The team said that the trial initiative was a “strong success” in improving AAVE value accrual. Will it lift the token above $200 again? Yes, under a positive, broader market sentiment, the deflation plan could boost AAVE in the long run. DeFi lending giant Aave [AAVE], has unanimously approved the creation of a $50 million per year buyback program. The move followed what the project called a “strong success” after a pilot test initiated in May, designed to improve the tokenomics of the AAVE token. According to the plan, the team would eye $250K-$1. 75 million in weekly AAVE purchases, based on protocol revenue and other factors. That being said, AMBCrypto evaluated the pilot test to gauge the potential impact of the latest update. AAVE buybacks and potential impact Since May, the initiative has bought over 94K AAVE tokens and spent over $22 million in the process. The team added 20. 1K AAVE in May, marking the largest monthly purchase during the trial program. From July to October, the team acquired about 10K AAVE on a monthly average. The deflation move and broader recovery lifted AAVE to $385 by August. However, Q4 headwinds dragged AAVE below $200 despite the ongoing buyback. Beyond deflation and market sentiment, AAVE’s value also has a strong positive correlation with Ethereum [ETH]. However, during pullbacks, AAVE also dumped harder. As the barometer of the broader DeFi ecosystem, ETH’s momentum also trickles down to the sector’s.
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