DeFi token Aave faces major correction after soaring 100% in a month
More than 50% of AAVE's recent gains appeared after Aave Companies proposed to launch a native stablecoin. The price of Aave (AAVE) has more than doubled in a month, but its bullish momentum could be reaching a point of exhaustion.AAVE price tests key inflection levelNotably, AAVE has surged by over 103% after bottoming out locally at $45.60 on June 18, hitting almost $95.50 this July 15. Nevertheless, the token's sharp upside retracement move has brought its price closer to the level that triggered equally sharp pullbacks since early June.In other words, AAVE has been testing an ascending....
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Demand for LEND has surged dramatically over the last week as the token undergoes a rebranding. Aave, the non-custodial “DeFi” protocol, earlier launched its Aave Improvement Proposal (AIP1) to allow community consent over the migration from its governance token LEND to its rebranded avatar AAVE. In retrospect, the switchover attempted to take people’s opinions on the […]
DeFi giants YFI, AAVE, and COMP plummet by over 10% within 20 hours as the market pulls back on Bitcoin and Ether uncertainty. Major decentralized finance (DeFi) tokens Yearn.finance (YFI), AAVE and Compound (COMP) plunged steeply in the last 24 hours. The three DeFi tokens, which are valued well over $500 million, declined by over 10% on the day.Yearn.finance, AAVE, COMP 15-minute chart (Binance). Source: TradingView.comThree reasons why DeFi-related cryptocurrencies pulled back particularly hard are low volume, the declining Ether (ETH) price, and the uncertainty around Bitcoin....
The DeFi market has corrected hard as Bitcoin dropped below $40,000, but analysts say a recovery is likely. The decentralized finance or DeFi market saw a steep correction over the last 12 hours as Bitcoin (BTC) was unable to break the $41,000 level.Meanwhile, analysts say that the profits from major DeFi tokens are flowing back into Bitcoin, even though the DeFi market is still lagging behind despite BTC’s recovery over the past week.1-hour candle DeFi index (Binance). Source: TradingView.comSo what’s next for the DeFi market?Both major bluechip DeFi tokens and small market cap....
It appears that decentralized finance (DeFi) bulls have finally returned. Aave (AAVE), one of the leading crypto-assets in the DeFi space, has surged 25% in the past 24 hours alone. This $AAVE reversal is legendary 🙌 — Spencer Noon (@spencernoon) November 8, 2020 This performance makes the coin the best-performing cryptocurrency in the top 100 […]
Aave declared a kick-off of its new project this month to meet the abruptly growing demand from different institutions. According to their announcement, Aave, one of the leading DeFi money markets, will launch a permission payment platform for investors. The DeFi protocol is partnering with Fireblocks, a crypto service provider and custodian, to launch the […]