Category: News, NFT News

Aave’s GHO Stablecoin Finally Achieves Parity With USD

GHO, the decentralized stablecoin from the leading DeFi lending protocol, has finally achieved parity with the U.S. dollar.

On Feb. 6, Stani Kulechov, the founder of Aave, celebrated the news via tweet and shared a screenshot indicating GHO was trading for $1.

“Was a long journey for the Aave community to get here and now, finally, after six months, the overcollateralized GHO is now finally at peg,” Kulichov tweeted. “Congrats to the Aave community for enabling fundamental building blocks for DeFi and payments.”

However, data from CoinGecko indicates GHO last changed hands for $0.996 after briefly tagging $1 twice within six hours roughly half a day ago. GHO consistently traded near $0.98 throughout December and most of January.