The host of the popular crypto market commentary show Coin Bureau mentioned he is contemplating adding the decentralized finance (DeFi) altcoin $AAVE to his portfolio.

$AAVE is the governance token for Aave, a decentralized non-custodial liquidity market protocol where users can either deposit funds to earn passive income or borrow funds in an overcollateralized or undercollateralized manner.

$AAVE holders vote on Aave Improvement Proposals (AIPs) and can stake their tokens in the protocol's Safety Module to provide security, earning staking rewards and protocol fees in return.

In a YouTube video released on July 11, the host "Guy" expressed increased interest in Aave due to its upcoming stablecoin launch, calling the project "amazing" and highlighting the significance of launching its own decentralized stablecoin as "really, really exciting news."

As reported by The Daily Hodl, Guy acknowledged skepticism about new decentralized stablecoins given past failures but maintained that Aave is particularly intriguing at the moment.

Although he hasn't yet purchased any $AAVE tokens, Guy is considering adding the altcoin to his portfolio.

He also provided updates on his market predictions, indicating the bear market could persist into 2023 and beyond, potentially lasting until 2024 and the next Bitcoin halving. He advised investors to adopt a long-term strategy, anticipating a prolonged market downturn.