Lưu trữ cho từ khóa: Aave

Phân tích

Bitcoin hits 62k as FTX token, Beam, Shiba Inu soar after US adds 254k jobs in September

Để lại phản hồi

Bitcoin and other altcoins held steady after the Bureau of Labor Statistics published encouraging September nonfarm payrolls data.

US nonfarm payrolls rebound

Bitcoin (BTC) rose slightly to $62,500 while Solana (SOL) jumped by 3% to $140. FTX Token (FTT) was the best top-100 cryptocurrency as it jumped by 20%. It has risen by over 80% from its lowest level this month.

Shiba Inu (SHIB), the second-biggest meme coin in the industry, was the second best-performing currency, rising by 10%. The other top performers were AAVE (AAVE), Beam (BEAM) and Celestia (TIA). 

According to the BLS, the American economy added 254,000 jobs in September, higher than the median estimate of 147,000. It also revised its estimate of August’s jobs report upwards to 159,000.

The unemployment rate retreated from 4.2% to 4.1% while wage growth rose from 3.9% to 4.0% in September.

These numbers came at a time when there are significant inflation fears as the crisis in the Middle East escalated, pushing crude oil prices higher. Brent crude has jumped to $78 while the West Texas Intermediate rose to $75.

Therefore, there is a risk that the Federal Reserve will not be as aggressive in cutting interest rates as was widely expected. In a statement on Monday, Sep. 30, Jerome Powell, the Fed Chair, noted that the Fed would be conservative when cutting interest rates. 

A hawkish turn by the Federal Reserve would be moderately bearish on risk assets like stocks and cryptocurrencies.

Traders are optimistic on Bitcoin and altcoins

On the positive side, most crypto investors are upbeat on Bitcoin and altcoin performance in October.

Historically, October and November have been the best two months for Bitcoin, according to CoinGlass. 

In a note, a crypto analyst noted that the best Octobers in the past few years started with some struggle. 

The other potential catalyst for Bitcoin and other tokens will be the upcoming US election in November. Historically, top assets do well after the election as investors embrace the new normal of the next administration. 

Meanwhile, most betters in a Polymarket poll with $147,000 believe that Bitcoin will rise to $65,500 this month, 7% above the current price. Many others see it rising to $70,000 this month. 

A Bitcoin comeback would lead to more gains by most altcoins like Solana, Ethereum, and Solana. It would also spur more gains in the meme coin industry.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

Trump teases launch date for crypto project to ‘leave outdated banks behind’

Để lại phản hồi

Former President Donald J. Trump is teasing the launch date of his sons’ new crypto project dubbed “World Liberty Financial.”

Donald Trump is teasing the upcoming launch of World Liberty Financial, a crypto project his family has been promoting over the past few weeks.

In a video posted on his X account on Sept. 12, Trump called on his followers to join him for a live Twitter Spaces event on Sept. 16, where he plans to officially unveil World Liberty Financial.

“We are embracing the future with crypto and leaving the slow and outdated big banks behind.”

Donald J. Trump

The teaser follows growing speculation about the Trump family’s involvement in the crypto space. In early August, Donald Trump Jr. and Eric Trump hinted at upcoming crypto-related developments, with both suggesting that the family had significant plans to enter the market.

These hints were later confirmed, when reports surfaced saying that the Trump-backed venture will likely be built on Aave, a decentralized finance platform, and Ethereum’s blockchain. The project will reportedly focus on creating a “credit account system” while driving the adoption of stablecoins.

Security has been highlighted as a primary concern for World Liberty Financial, as the team behind the project is working with top-tier security experts, including PeckShield, Zokyo, and BlockSecTeam, to ensure the platform’s safety. According to an alleged official Telegram channel, the project’s code has been “thoroughly reviewed” by industry leaders to prevent security vulnerabilities.

The timing of the announcement also coincides with an incident earlier in September when Lara and Tiffany Trump’s X accounts were hacked, posting about a token purportedly associated with World Liberty Financial.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

AAVE, GRT, MANA could surge if this happens

Để lại phản hồi

Aave, The Graph and Decentraland could see significant spikes due to notable declines in their funding rates.

According to data provided by Santiment, the Binance funding rates for Aave (AAVE), The Graph (GRT) and Decentraland (MANA) declined to the negative zone, each standing at -0.018%, -0.014% and -0.021%, respectively.

The indicator shows that all three tokens are witnessing a significant surge in their short trading positions.

An asset’s price usually goes the opposite way when the funding rate falls into the negative zone. 

In this case, according to Santiment, AAVE, GRT and MANA could surge due to the potential liquidations of short positions.

On Sept. 11, AAVE reached a two-year high of $160, thanks to its three-day price surge. The asset has been consolidating between $147 and $149 over the past day. 

AAVE is down by 1.7% in the past 24 hours and is trading at $148. The token’s market cap is currently hovering at $2.2 billion, making it the 36th-largest cryptocurrency. The daily trading volume around AAVE also cooled down and decreased by 12%, currently sitting at $370 million.

AAVE price – Sept. 12 | Source: crypto.news

GRT has been constantly declining since March, when it reached a two-year high of $0.49. The Graph gained 3% over the past 24 hours and is currently changing hands for $0.14. GRT is the 51st-largest token with a market cap of $1.3 billion.

GRT price – Sept. 12 | Source: crypto.news

MANA witnessed a quite similar momentum to GRT and has been struggling to sustain a strong bullish momentum since March. The asset surged 3.2% in the past 24 hours and is trading at $0.27 at the reporting time. Its market cap surpassed the $500 million mark, securing the 106th spot.

MANA price – Sept. 12 | Source: crypto.news

Despite the bullish indicator, it’s important to look out for macroeconomic events that could change the direction of financial markets.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Aave emerges top gainer, clinches 2-year peak at $160

Để lại phản hồi

Aave has emerged as the top gainer in the cryptocurrency market following a remarkable comeback that began three days ago amid market uncertainty.

Aave (AAVE) recorded a sharp 11% surge over the past 24 hours. Following its impressive run, Aave peaked at $160 earlier this morning for the first time since the Terra collapse in May 2022. 

AAVE 1D chart – Sept. 11 | Source: crypto.news

While the asset has faced resistance at this psychological level, it looks to maintain the $150 price point. Despite this challenge, Aave is currently trading at $149, having maintained a 19% increase since Sept. 8, further boasting a 67% surge over the past month.

Notably, amid this uptrend, the asset’s +DI indicator has spiked to 30.54, confirming strong upward momentum despite the broader market uncertainty. Meanwhile, the -DI has dropped to 11.33 as selling pressure reduces.

Additionally, the Average Directional Index (ADX) has risen to 24.6, reflecting the growing strength from the upward push. These suggest that Aave’s current upward trajectory is robust, but traders should watch for potential fluctuations.

Aave’s pivot points show a resistance (R1) level at $145.95, which Aave has already surpassed. The next levels at $163.09 and $190.83 represent crucial upside targets if the bullish trend continues. 

On the downside, Aave has immediate support at $118.21 (Pivot), followed by the next support level at $90.47. These levels could offer potential cushions in case of a pullback.

Pseudonymous crypto market analyst Saint Pump believes Aave’s price action is reflective of a two-year accumulation phase and expects the asset to perform well in the midterm. 

However, he cautions against jumping into trades at the daily highs due to the asset’s illiquid order book and volatile intraday movements. He advises potential buyers to wait for a price correction before entering the market.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

AAVE jumps 11% fueled by heightened whale activity

Để lại phản hồi

AAVE, the native token of the decentralized lending platform Aave, has recently attracted attention from whales as its price surged by over 11% on Sep. 5.

At the time of writing, Aave (AAVE) had climbed to become the 42nd largest cryptocurrency, up from its 47th position on August 20. The token’s market capitalization exceeded $1.98 billion, marking a more than 4% increase in the past 24 hours.

According to price data from crypto.news, AAVE was trading at $132.95, rising from its weekly low of $116.13 reached just the day before. The token has seen a significant 60% increase over the last 30 days. Despite this recent rally, AAVE remains 80% below its all-time high of $661.69, achieved in May 2021.

The latest surge in AAVE has been largely driven by a major jump in whale activity. On Sep. 5, Lookonchain reported that two whales acquired around $2.2 million worth of AAVE within a span of less than three hours.

Moreover, the previous day, another whale purchased a substantial 50,604 AAVE tokens, valued at approximately $6.78 million, with an average price of $134.60 per token. This brought their total holdings to 125,605 AAVE tokens, valued at about $16.9 million at current prices.

AAVE has increasingly gained traction among whales in August, likely due to its solid fundamentals. Data from DeFiLlama shows that Aave holds over $11 billion in assets and has generated more than $281.39 million in fees this year.

Moreover, data from IntoTheBlock reveals that whales controlling over 1% of Aave’s circulating supply now hold 59.17% of the total supply. The high concentration of large holders suggests that AAVE’s price is being influenced by whale activity.

AAVE concentration chart | Source: IntoTheBlock

Additionally, there has been a sharp increase in both the inflows and outflows of AAVE among large holders, with inflows rising by 326% and outflows by 353% over the last week. However, the net flow of AAVE among large holders surged by 61% in the same period, indicating strong buying interest that has helped drive the upward momentum in AAVE’s price.

The recent price surge in AAVE also comes after Donald Trump announced his DeFi initiative, World Liberty Financial. This project plans to develop a decentralized financial system using Aave’s non-custodial lending platform and Ethereum’s infrastructure.

Gabriel Shapiro, a legal adviser for the initiative, explained that it will function as a “lightweight non-custodial feeder” into Aave, enabling users to make deposits without the need for creating a fork. The venture aims to introduce Trump supporters to DeFi, which has bolstered confidence in Aave’s potential for mainstream adoption and spurred speculative buying.

Major liquidation levels

Currently, key liquidation levels are around $130.2 on the lower end and $139.8 on the upper end, with intraday traders highly leveraged at these points, according to on-chain analytics firm Coinglass.

Source: CoinGlass

If market sentiment shifts and AAVE’s price drops to $130, nearly $1.78 million in long positions could be liquidated. On the other hand, if sentiment improves and the price climbs to $139.8, about $5.04 million in short positions may face liquidation.

At press time, data indicated that bears were in control, with the potential to trigger liquidations of long positions at lower levels.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Here’s why the Ethervista, Uniswap, and AAVE are rising

Để lại phản hồi

Cryptocurrency prices remained on edge on Wednesday, Sep. 4, as sentiment in the financial market worsened.

Bitcoin (BTC) dropped below $57,000, Ethereum (ETH) hovered below $2,500, while the crypto fear and greed index moved into the fear zone for the first time in weeks. The same situation unfolded in the stock market, where the Dow Jones, Nasdaq 100, and S&P 500 indices continued their downtrend.

Still, some cryptocurrencies performed relatively well. Ethervista (VISTA) rose by over 120%, reaching a high of $32.3, giving it a market cap of $27 million.

AAVE (AAVE), the popular lending protocol, rose by 8% to $135.56 while Uniswap (UNI) rose to $6.61, its highest point since Aug. 26.

Ethervista is gaining momentum popular

Ethervista is a recently launched platform that allows users to create meme coins on Ethereum’s network. It is relatively similar to Tron’s SunPump and Solana’s Pump.fun.

Data shows that the network is gaining momentum. According to DeFi Llama, Ethervista has already generated over $1.64 million in fees and accumulated over $5.3 million in assets.

Another report indicates that Ethervista ranked sixth in terms of ETH gas consumed on Wednesday. The platform has handled over 32,500 transfers and has accumulated over 5,700 users.

Historically, hyped tokens tend to do well initially before retreating. Recently, Sun Token soared to $0.0448 during the SunPump hype but has since crashed by almost 40% from its highest point last week.

Whale buys AAVE

AAVE’s price jumped to an intraday high of $135.56, its highest level since Aug. 25, after a large buyer continued accumulating the token. At its peak, AAVE was up by over 90% from its lowest point in July.

According to Nansen, some whales have continued to accumulate AAVE in recent days. One individual purchased AAVE tokens worth $538k and converted them into aETHAAVE, indicating a long-term hold strategy.

AAVE has become a popular token among whales in the past few weeks, likely because of its strong fundamentals. It has over $10.97 billion in assets and has made over $244 million in fees this year. 

Uniswap charged by the CFTC

Uniswap, the largest decentralized exchange in the industry, saw a rise after the Commodity Futures Trading Commission charged it with offering derivatives. The CFTC ordered Uniswap to pay a $175,000 fine and to cease and desist from violating the Commodity Exchange Act.

In a dissenting statement, Commissioner Summer Mersinger argued that the agency was implementing regulations through enforcement. He expressed concern that one of the targeted DeFi protocols might choose to litigate rather than settle, stating:

“Wielding the hammer of enforcement against these DeFi protocols may result in some short-term “wins,” but in the long-term, without more, it will only create problems.”

Uniswap remains the biggest player in the DEX industry by far. According to DeFi Llama it handled over $4.55 billion in assets in the last 7 days.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

AVAX, MATIC, AAVE: Top cryptocurrencies to watch this week

Để lại phản hồi

The cryptocurrency market lost $190 billion last week amid a sharp correction, bringing the global crypto market cap to $2.07 trillion by the end of the week. 

Here are some of the most noteworthy performers from last week based on their significant price action and investor sentiment.

AVAX records six losing candles

Last week, Avalanche (AVAX) experienced a significant decline, losing 15.8% of its value as it closed the week at $22.81. The asset witnessed a consistent bearish trend, with six out of seven days recording losses. 

AVAX 1D chart – Sept. 1 | Source: crypto.news

Despite this downtrend, the RSI-based moving average saw a slight uptick, suggesting potential stabilization. Volume has also gradually decreased, indicating that the bearish trend could be facing a possible exhaustion.

Key areas of interest to watch in the coming days include the recent low of around $22, which could act as support if the Avalanche bearish momentum continues. 

Meanwhile, a break above $24 might signal a shift in sentiment. However, AVAX’s next move could depend heavily on the strength of the broader cryptocurrency market, which triggered the recent cluster of losses.

MATIC collapses 26% in a week

Polygon (MATIC) fell sharply by 26.5%, closing last week at $0.4196.

This disappointing performance came on the back of a bearish engulfing candle on Aug. 25. Such a candlestick suggests that sellers had taken full control of the market.

MATIC 1D chart – Sept. 1 | Source: crypto.news

Polygon recorded seven consecutive days of losses despite a surge in network activity. Amid the downtrend, it dropped below the upper Bollinger Band on Aug. 25 and the middle band on Aug. 28. However, it remains above the lower band.

This pattern suggests that the asset is in a clear downtrend but not yet oversold. In the coming days, the lower Bollinger Band around $0.3510 could serve as potential support if the bearish trend persists. 

A break below this level could signal further declines. 

However, a move above the middle band near $0.4568 might suggest a recovery.

AAVE demonstrates resilience

Aave (AAVE) demonstrated relative strength last week, closing with a milder 5.37% drop at $129.71. Unlike many assets, AAVE avoided setting new lows, buoyed by two days of notable gains. 

AAVE 1D chart – Sept. 1 | Source: crypto.news

Despite the bearish pressure, the asset remained above both the 50-day EMA ($112.50) and the 200-day EMA ($101). This suggests a predominant bullish outlook in the medium to long term.

This position indicates that AAVE is currently in a stronger technical position compared to many other assets. However, the 50-day EMA around $112.50 is worthy of note in the coming days. 

A dip below this level could signal a shift in sentiment. Conversely, a move above $130 could suggest renewed buying interest.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Whales keep accumulating Aave as prices hit overbought levels

Để lại phản hồi

Whales have been accumulating Aave as its price started to rise over the past week, though the token has now entered the overbought zone.

According to data provided by IntoTheBlock, whales holding over 1% of Aave’s (AAVE) circulating supply have accumulated a total of 9.74 million tokens, accounting for over 60% of the AAVE total supply.

AAVE’s large holders’ inflow also increased over the past 24 hours, reaching 291,000 tokens, per ITB data, showing increased interest from whales as the AAVE price recorded an impressive 44% run in the last 30 days.

Data also shows an increased large Aave holders’ outflow, reaching 271,000. However, due to the rising price, the movement cannot be attributed to whales’ selling pressure. Instead, the indicator might show heightened withdrawals from exchanges.

According to Santiment, the number of whale transactions consisting of at least $100,000 worth of AAVE increased by over six times since Aug. 18, reaching 153 unique transactions in the past 24 hours alone.

AAVE price, RSI and whale activity – Aug. 21 | Source: Santiment

As the AAVE price and whale accumulation surge, its Relative Strength Index enters the 70 mark, per Santiment data. The indicator shows that the asset is currently overbought and short-term profit-taking could be natural from both small and large token holders.

AAVE is up 7% in the past 24 hours and is trading at $137.2 at the time of writing. Despite the current price rally, AAVE is still short by 79% from its all-time high of $666 in May 2021. The native token of the Aave protocol is currently the 44th-largest cryptocurrency with a market cap of over $2 billion. 

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

Aave price rallies 12% amid surging whale activity

Để lại phản hồi

Aave’s price saw a surge of over 12% amid heightened whale activity and a broader jump in the global crypto market.

At the time of writing, Aave (AAVE) has become the 47th largest cryptocurrency, with its market cap exceeding $1.89 trillion as its price soared 12.4% on Aug. 20, trading at $126.9, according to data from crypto.news.

AAVE 24-hour price chart – Aug. 20 | Source: crypto.news

Despite this rise, the cryptocurrency remains down 80.8% from its all-time high of $661.6, while its daily trading volume is staying at $392 million.

Meanwhile, blockchain analytics firm Lookonchain revealed that whales had significantly increased their holdings of Aave within just a three-hour window. According to their data, these large-scale investors acquired a total of 31,407 AAVE, valued at approximately $3.92 million.

In one instance, the whale address 0x3737 spent 813 ETH, equivalent to $2.18 million, to purchase 17,690 AAVE at a price of $123 per token. Another whale, identified by the address 0x1D15, withdrew 13,717 AAVE worth about $1.73 million from Binance. As of press time, that whale holds a total of 19,373 AAVE, valued at $2.45 million.

Whale activity around Aave surges as DeFi shows signs of maturation

The latest surge in whale activity coincides with a broader recovery in the DeFi sector, as indicated by Edward Wilson, Head of Marketing at Nansen Analytics.

In a statement to crypto.news, Wilson outlined a pivotal shift in the crypto market from the frenzy of speculative meme coins towards more fundamentally strong DeFi projects. This trend, Wilson suggests, signifies a maturation within the market that favors sustainable growth over fleeting excitement.

Moreover, Nansen Analytics has tracked a substantial increase in Aave holdings by seasoned investors, amounting to around $5 million since early August, with this growing confidence seemingly supported by technical patterns on Aave’s price chart.

“The developing Adam & Eve bottom pattern suggests a strong potential for further upward momentum, which aligns with the market’s renewed focus on strong fundamentals.”

Edward Wilson

Earlier in July, Aave’s price had already seen an 8% boost following a proposal by founder Marc Zeller to implement a token buyback program, further fueling optimism about the token’s future.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News