• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
AAVE, AAVEUSD, AAVEBTC, cryptocurrency

AAVE Off to Reclaim Previous Record High after Institutional Endorsement

Yashu Gola by Yashu Gola
2 years ago
in Aave
Reading Time: 2 mins read
Advertisement

AAVE has emerged as one of the most profitable cryptocurrencies entering the new week as Bitcoin’s bullish momentum pauses after a weekend sell-off.

The second-largest decentralized finance token surged 11.36 percent, or $22, to an intraday high of $522.74, confirming a bullish reversal following its 28 percent drop from its record high near $547. AAVE’s pullback surfaced as its price tested the 50-4H simple moving average as support, a wave that has been lately capping AAVE/USD’s losses from turning into a full-fledged bearish assault.

AAVE, AAVEUSD, AAVEBTC, cryptocurrency, DeFi, decentralized finance, defi
AAVE bounces back after testing its 50-4H moving average as support. Source: AAVEUSD on TradingView.com
AAVE bounces back after testing its 50-4H moving average as support. Source: AAVEUSD on TradingView.com

“New ATH” Possible

Many analysts agreed that AAVE is off to reclaim its previous record peak or establish a new one as the token—as a DeFi lending protocol—gains acceptance among new users.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

$AAVE on the move and in search for a new ATH. Possible entry AFTER the gain or on the retracement (both are legit). #AAVE #altcoins #Binance pic.twitter.com/CWGqb9IM35

— DoopieCash® (@DoopieCash) February 8, 2021

Dune Analytics’ statistics stated that AAVE, alongside its rivals Compound and MakerDAO, processed borrow calls worth $606.8 million in the past seven days. That served as a huge contrast to the amount that the trio lent in the previous 30 days: just over $1.5 billion.

Meanwhile, billionaire investor Mike Novogratz provided further tailwinds to AAVE’s rally by naming it among its top five cryptocurrencies in addition to Bitcoin. In a live stream chat with Grammy-nominated artist Lil Yachty, the Galaxy Digital founder/CEO said tokens like AAVE would “blow up the world.”

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

“Those are the tokens that want to take the banks and tear the banks’ limb from limb, that want to replace JPMorgan and the New York Stock Exchange, and so I put some money into those things,” he added. “It’s much riskier, but if it works, it’s going to be a much bigger payoff.”

AAVE holds an electronic money license in the UK, making it the only DeFi project to have granted a regulated company status by the Financial Conduct Authority.

What’s Next for AAVE?

Technically, AAVE/USD is trading inside an Ascending Channel range, confirmed by a sequence of higher high and higher low formations since early January.

AAVE, AAVEUSD, AAVEBTC, cryptocurrency
AAVE eyes breakout towards $650. Source: AAVEUSD on TradingView.com
AAVE eyes breakout towards $650. Source: AAVEUSD on TradingView.com

Traders eye a retest of $547, while a close above the said level expects to extend their long targets towards the Ascending Channel’s resistance trendline. Meanwhile, a pullback would have them open a short position towards the 20-4H moving average support in green.

Tags: aaveAAVEBTCAAVEUSDcryptocurrency
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

AAVE

Is AAVE Price Close To Breaking Consolidation?

4 days ago
AAVE

Aave Price Recovers Back To $57, But Threat Of New Attack Looms Over Protocol

2 months ago
AAVE Price Prediction

AAVE Price Prediction: Surges 20% This Week, Rally Could Extend Above $85

4 months ago
Aave To Introduce Permissioned Deployment for Institutions Later In July

Aave To Introduce Permissioned Deployment for Institutions Later In July

2 years ago
aave defi hydra

AAVE “Monster” Is Awakening, Breakout Coincides With Coinbase Listing

2 years ago
bitcoin

Aave Drives Over 150% From Lows Due as Fundamentals Remain Strong

2 years ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom And Decentraland Explode As Big Eyes Coin Raises $21M In Presale

February 4, 2023

The Metaverse Represents The Future of Web3: Decentraland (MANA), The Sandbox (SAND), and Snowfall Protocol (SNW) Lead the Way

February 4, 2023

Snowfall Protocol (SNW), Shiba Inu (SHIB), and Cronos (CRO) – The Best Cheap Cryptos to Buy Now

February 4, 2023

ApeCoin (APE), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Three Great Coins for NFT Lovers

February 3, 2023

Turn Playtime into Paytime with RankerDAO’s Gaming Crypto Platform

February 3, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.