NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

LEND Jumps Another 11% on Bloody Crypto Day; Correction Ahead?

Yashu Gola
Yashu Gola
4 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Decentralized finance asset LEND continued its gravity-defying price rally ahead of the New York opening bell Wednesday even as its peers across the crypto space suffered sizeable intraday losses.

The 21st-largest cryptocurrency surged 11.28 percent to $0.858 per token, its highest level to this date. Its upside move followed a four-week winning streak, wherein LEND/USD rallied from 0.369 to 0.858. That amounts to a circa 210 percent price jump.

lend, aave, cryptocurrency

Aave continues its parabolic bull run. Source: TradingView.com

Zooming out on the LEND/USD weekly chart revealed a significant uptrend in play. The pair jumped by as much as 29,422 percent after bottoming out at 0.003 in mid-August 2019. A major portion of those gains came after March 2020, amounting to more than 80 percent of the total upside move.

It is the same period that saw a significant boom in the decentralized finance (or DeFi) sector. Almost all tokens that played a critical role in managing the finances of decentralized lending–as well as staking and oracle platforms–delivered skyrocketing gains.

B(LEND) of Good News

LEND surged as it served as a governance token for Aave, an open-source and non-custodial protocol that “enables users to earn interest on deposits and borrow assets with a variable or stable interest rate.”

The hype later transformed into a genuine exploration of product-backed return of investments. In July 2020, Aave announced native Credit Delegation, a service that allows LEND depositors to delegate their credit lines. Data aggregator Messari commented:

“Overcollateralized lending is capital inefficient, and uncollateralized lending has been one of the key missing pieces to DeFi lending. Assuming it works it has the potential to significantly scale DeFi lending and could underpin many novel lending arrangements, leveraging Aave as a global source of capital.”

lend, aave, cryptocurrency

How Aave's Credit Delegation works. Source: Aave

The new features helped Aave to turn speculators into long-term LEND holders. That played a massive role in subsidizing token’s bearish risks. Meanwhile, Aave’s growth as a DeFi project kept attracting fresh higher bids for LEND, leading the total value locked into its reserves to a record high of $1.5 billion – also the highest among DeFi reserve pools.

More uplifting news came from the Financial Conduct Authority this week. The UK’s financial regulator granted Aave the license to operate as a money services business. That marked a DeFi platform’s first significant approval on regulatory standards.

The news started a new wave of buying sentiment in the Aave market.

Overbought

Despite its massive rally, LEND risked correcting lower due to its technically overbought bias. The Aave token’s daily Relative Strength Index flashed a reading way above 70, a level that separates an asset from its neutral sentiment.

lend, aave, cryptocurrency

Aave levels to watch in the coming sessions. Source: TradingView.com

Putting a Fibonacci retracement graph on the LEND/USD weekly chart showed the levels that the pair could test moving forward. An overbought RSI suggested an imminent correction, which may lead the pair lower towards $0.58 on profit-taking sentiment.

Meanwhile, a continuation in the Aave token’s uptrend pointed to $0.94 as the next primary bull target. A further move could also put the cryptocurrency en route to a dollar valuation.

Tweet123Share205ShareSend
Yashu Gola
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.

Read more

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.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Flexes Muscle

Ethereum Flexes Muscle, Outperforms Bitcoin Amid Market Momentum

Ethereum price started a fresh increase above the $3,020 zone. ETH is now consolidating gains and might correct lower toward...

Aayush Jindal 2 hours ago
Bitcoin Price Attempts a Comeback

Bitcoin Price Dips — Is This the Calm Before the Surge or the Storm?

Bitcoin price started a downside correction from the $123,200 zone. BTC is now trading below $120,000 and might find bids...

Aayush Jindal 3 hours ago
On-Chain Data Shows Key Bitcoin Support & Resistance Levels—Here’s What To Expect

On-Chain Data Shows Key Bitcoin Support & Resistance Levels—Here’s What To Expect

Bitcoin (BTC) has seen a pullback after days of sustained upward momentum, reacting to the latest U.S. Consumer Price Index...

Samuel Edyme 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dormant Bitcoin Wallet Moves $1.2B in BTC: Is A Major Sell-Off Coming?

Dormant Bitcoin Wallet Moves $1.2B in BTC: Is A Major Sell-Off Coming?

Samuel Edyme 5 minutes ago
BNB Price Slips as Peers Climb

BNB Price Stalls: Struggles to Resume Gains While Altcoins Rally

Aayush Jindal 17 minutes ago
XRP Price Clings to Support

XRP Price Eyes Fresh Gains: Traders Bullish After Momentum Spike

Aayush Jindal 1 hour ago

Premium Sponsors

Press Releases

  • e 3 coiny poniżej 1 dolara mogą zamienić 200 dolarów w...

    9 hours ago
  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    15 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    15 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    15 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    15 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.