Aave Price Down By 3.01% – Time To Buy AAVE?
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- Aave builds NFT- based Platform dubbed Lens
- HAL integrates with DeFi platform Aave: Time to buy AAVE?
- Aave launches permissioned DeFi platform Aave Arc
Decentralised Finance (DeFi) lending platform Aave has dipped 3.01% in the previous 24 hours amid the broader crypto market decline. Could this spur investors to buy AAVE and rise with the market in the long term?
Aave (AAVE) is a decentralised open source liquidity protocol that allows users to lend, borrow, and earn interest on cryptocurrency assets. For instance, it offers predictable interest rates, which aid borrowers in financial planning. Aave’s second distinguishing characteristic is the possibility of “flash loans”. Investors who want to receive flash loans do not need any collateral. Hence, they can receive rapid loan approvals.
HAL Integrates with DeFi platform Aave: Time to Buy AAVE?
Aave users recently voted to integrate HAL on the platform. As a result of this, Individuals and business owners can use HAL’s monitoring and position tracking services to get relevant information from their blockchain data streams.
The health factor alerting system is an effective solution for managing liquidation risks on DeFi protocols. Users receive push notifications based on a predetermined threshold, letting them know whether their holdings are about to be liquidated.
Co-founder De Rossi also stressed the importance of HAL’s services in demonstrating how centralised and decentralised systems may coexist. The company’s services can hold centralised and decentralised protocols together, said the co-founder.
Aave Builds NFT- Based Platform Dubbed Lens
Aave is a significant player in the global DeFi market. The platform announced fresh intentions on Twitter recently. A completely new protocol that has nothing to do with money lending will be unveiled. The Lens protocol, designed to serve as the foundation for social networks, is the anticipated protocol.
Aave also found an equal partner in Web3, which is responsible for the design of Lens as it shares Aave’s goal of a decentralised Internet. Of course, the Lens Protocol is open-source, and NFTs will be used to construct the entire social network.
Lens is described by its developers as a user-driven, open platform that any application may use. This is done to build an extensive network with various business partners. While developers are urged to concentrate on their project, which will ultimately become a part of Lens, the protocol is designed to generate an audience for commercial partners on its own.
Aave Launches Permissioned DeFi platform Aave Arc
The protocol recently announced Aave Arc, a permissioned variant of the well-known DeFi loan platform Aave. The platform is designed for organisations who want to participate in the DeFi industry lawfully.
Aave Arc is a DeFi liquidity market that adheres to anti-money laundering standards, with all participating institutions required to complete KYC verification.
In addition, the liquidity market allows select parties who have passed financial due diligence to borrow and lend bitcoins to other parties. It functions similarly to Aave’s core protocol, but only authorised parties are permitted to participate.
According to Michael Shaulov, co-founder and CEO of Fireblocks, the introduction of Aave Arc will allow the world’s most prestigious colleges to participate in DeFi.
AAVE Technical Analysis
At press time, AAVE’s price is at $167.3. In the last 24 hours, the asset has dipped 3.01%, with a 29.06% drop over the past week.
The technical indicators of AAVE show a slightly bearish trend. The crypto asset is now trading across the 50% Fibonacci retracement threshold of $167.6. Therefore, AAVE will likely see support below that level. However, a broader crypto market rally could see it rise and break above.
The Relative Strength Index (RSI) of 35.54 suggests that the token is trading in the underbought region. Indications show it’s an opportunity for investors to buy AAVE and rise with the market.
Furthermore, Aave’s asset is slightly below the trendline, with a 50-hour Simple Moving Average (SMA) value of $167.7, indicating a slightly bearish run.
Moreover, the Moving average convergence and divergence (MACD) shows a sell signal.
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