Why is AAVE rallying by more than 15% today?

Why is AAVE rallying by more than 15% today?
фото показано с : coinjournal.net

2022-7-8 09:23

It has been a positive week for the cryptocurrency market so far, with the prices of most coins up by over 10% in the last seven days 

The cryptocurrency market has been performing well since the start of the week. Over the past 24 hours, the total market cap has increased by more than 5%, pushing the total market cap close to the $1 trillion mark. 

Bitcoin is trading above $22k once again after adding more than 7% to its value in the last 24 hours. Ether, the second-largest cryptocurrency by market cap looks poised to surge past the $1,300 resistance level after adding 6.8% to its value during the same period.

However, AAVE is one of the best performers amongst the top 50 cryptocurrencies by market cap. AAVE has added more than 15% to its value in the last 24 hours, outperforming the other major coins in the process. 

The rally comes as the Aave team proposed the launch of a new stablecoin pegged to the US Dollar to its community. 

Aave Companies is proposing to the DAO the introduction of a native decentralized, collateral-backed stablecoin, GHO, pegged to USD. GHO can be launched on the Aave Protocol, allowing users to mint GHO against their supplied collaterals.

1/ Calling all GHOsts 👻 

We have created an ARC for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO.

Read more below and discuss your thoughts for the snapshot (coming soon)!👇https://t.co/P7tHl9LbBe

— Aave (@AaveAave) July 7, 2022

Key levels to watch

The AAVE/USD 4-hour chart is bullish as Aave has been performing well over the past few hours.

The MACD line is above the neutral zone, indicating bullish momentum for the cryptocurrency. The 14-day RSI of 70 shows that AAVE could soon enter the overbought region if the rally is sustained.

At press time, AAVE is trading at $71.63. The token could move past the $79 resistance level over the coming hours. AAVE could target the $98 resistance level for the first time this month if the market momentum is maintained over the next few days.

The post Why is AAVE rallying by more than 15% today? appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

TodayCoin (TODAY) на Currencies.ru

$ 0.00039323 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 999999
Доступно / Всего 0 TODAY

today aave rallying far coinjournal week positive

Источник: coinjournal.net

today aave → Результатов: 35


Фото:

The Sandbox, AAVE & Major ICOs All Use Request Invoicing for Convertible Crypto-Fiat Invoicing & Payroll

Blockchain-based financial services provider Request Finance today announced it had added The Sandbox (SAND) to its list of high-profile clients. The Sandbox Taps Request Finance’s Services Request Finance offers a suite of innovative and robust blockchain-based financial services to crypto firms.

2021-11-23 18:00


Фото:

Bitwise Unveils Institutional-Grade DeFi Funds for Aave (AAVE) and Uniswap (UNI)

Digital asset manager Bitwise today announced the launch of two DeFi blue-chip token funds. Bitwise Launches DeFi Products Amid Rising Demand Bitwise, a digital asset management firm with more than $1 billion worth of digital assets under management today unveiled two funds for decentralized finance (DeFi) protocol tokens, Coindesk reports. The two funds, based onRead More

2021-8-3 19:00


Фото:

DeFi Major Aave (AAVE) to Build on Polygon’s Scalable Layer 2 Platform

The decentralized lending platform built on the Ethereum blockchain, Aave says that it will scale its DeFi platform beyond its blockchain by joining several sidechains, including Polygon.  Aave Addresses Transaction Fees Block space supply today is scarce and limited, leading to the massive expansion of assets on the Ethereum blockchain. Since the “DeFi Summer” ofRead More

2021-4-2 20:00


Фото:

MyEtherWallet Announces Integration with DeFi Protocol Aave (LEND) and Ren (REN)

Open-source cryptocurrency wallet MyEtherWallet (MEW) integrates leading DeFi lending platform Aave (LEND) and blockchain interoperability protocol Ren (REN) into its ecosystem via MEWConnect. Laying the Blocks for Decentralized Economy via MEWconnect DeFi is all the rage today, and it shows no sign of slowing down anytime soon, perhaps for all the right reasons.

2020-8-13 16:07


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin drop triggers over $100M in crypto market liquidations in the past 24 hours

Quick Take The recent drop in Bitcoin, breaking below the $37,000 level, has resulted in a wave of liquidations across the crypto market, surpassing $100M. Among the major digital assets, Ethereum faced a significant hit with $15M in liquidations, while Bitcoin followed closely with $13M, primarily due to long positions liquidated.