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Shiba Inu (SHIB) Whales Trigger Bullish Momentum for RCOF and AAVE as Exchange Outflows Rise

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5 months ago

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Shiba Inu (SHIB) whales trust the meme coin’s potential as exchange withdrawals spike. Meanwhile, RCO Finance (RCOF) and Aave (AAVE) show bullish price movements. We will examine the effect of SHIB holders’ actions on RCOF and SHIB and how crypto enthusiasts can benefit from potential gains.

Shiba Inu Whales Withdraw 653 Billion SHIB From Exchanges

On the first day of August 2024, over 653 billion SHIB were withdrawn from top crypto exchanges. This was the most withdrawals in one day since 1 trillion tokens on July 19th. Actions like this suggest a strong bullish sentiment concerning SHIB among investors. They are holding the token because they believe prices will rise soon. 

Consequently, their actions could create scarcity, pushing SHIB’s price up. However, general market sentiment would have to remain positive for this price appreciation. 

However, this has yet to be the case. A massive BTC slump has seen SHIB plummet in the short term, losing 31.6% in one week. Analysts say investors’ confidence in SHIB shows that it could still rise to $0.000059. 

RCO Finance Is Set For Massive Presale Pump

Large investor confidence in SHIB has spurred interest in RCO Finance. RCO Finance is running its presale and has seen a spike in RCOF token sales over the past two weeks, helping the protocol raise $1.3 million in Stage 1 of the presale.  

The presale is in Stage 2, and RCOF is sold for $0.0343. Stage 1 investors have already made a 169% gain, and Stage 2 investors will earn an impressive 1,066% profit when the token launches at $0.40. 

However, RCO Finance offers much more than presale gains. It is primarily an AI-powered decentralized trading platform that allows traders to directly trade RWAs, such as stocks, bonds, and commodities, without going through brokers. They will also be able to trade these assets with their crypto assets. Furthermore, the platform offers low fees, up to 50x leverage, and full control of your trading activities. 

RCO Finance’s AI robo advisor works with the trading platform to improve the trading experience. This feature utilizes mathematical models to provide data-driven trading insights. These insights help traders invest in the right asset at the right time. 

Finally, the no-KYC policy protects users’ privacy and anonymity, while audited smart contracts ensure reliable and secure transactions. 

Whale Interest Increases As AAVE Gains 11.8% In 30 Days

A report showed that whale activity on AAVE has spiked in recent weeks. Lookonchain data showed that whales accumulated 58,848 AAVE worth $6.47 million in two days. 

Analysts say the whales were attracted by AAVE’s 11.8% pump over the past month. This rise was triggered by a new feature called “fee switch.” The “ fee switch” will share the Aave protocol’s $60 million annual revenue with token holders. As predicted, this update increased the value proposition of holding AAVE, attracting many more holders and investors. 

Analysts say the reduced supply caused by whale accumulation could push AAVE to $300 by the end of 2024. 

Buy RCOF To Enjoy Multiple Earning Streams

RCOF is RCO Finance’s native token. It has a total supply of 800 million, with 50% allocated to public sale. The remaining tokens are shared between ecosystem development, liquidity/market-making, marketing, private sales, the team, advisors, and ecosystem rewards. 

The token is sold for $0.0343, which is Stage 2 of the presale. Stage 2 participants will earn a massive 1,066% profit when the token launches at $0.40. This is one of the earning opportunities RCO Finance offers. 

 Token holders can also earn by staking their tokens to earn rewards. They can also lend their tokens and earn interest. Furthermore, RCOF holders can use their tokens to provide liquidity for the various trading pairs and earn rewards. Additionally, token holders will get a share of the platform’s revenues as dividends. 

Finally, you can enjoy these multiple income streams by purchasing RCOF in the ongoing presale. 

For more information about the RCO Finance Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

The post Shiba Inu (SHIB) Whales Trigger Bullish Momentum for RCOF and AAVE as Exchange Outflows Rise first appeared on BTC Wires.



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Aave

AAVE Dominates DeFi Lending – Metrics Reveal 45% Market Share

Published

1 week ago

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December 15, 2024

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Este artículo también está disponible en español.

Aave (AAVE), the leading decentralized finance (DeFi) lending protocol, has captured the spotlight with an extraordinary surge of over 200% since November 5. Outperforming the broader market, AAVE has reached its highest levels since 2021, marking a remarkable recovery and reaffirming its dominance in the DeFi ecosystem.

Key metrics from IntoTheBlock underscore AAVE’s unmatched position in the lending sector. With an impressive 45% market share, it remains the top choice for users seeking decentralized borrowing and lending solutions.

With AAVE trading at multi-year highs and on-chain data suggesting robust activity, the altcoin’s trajectory remains a focal point for investors and analysts alike. The question is whether the price can sustain this momentum and reach new all-time highs in the coming months.

AAVE Keeps Growing 

Aave (AAVE) has shown consistent growth over the past year, solidifying its position as a market leader in the DeFi lending sector. Known for its innovative approach to creating non-custodial liquidity markets, Aave enables users to earn interest on supplied and borrowed assets at variable interest rates. This approach has made Aave a go-to protocol for decentralized borrowing and lending.

For years, Aave has been at the forefront of DeFi innovation, continually enhancing its platform and user experience. Its success is evident in its market dominance. Metrics from IntoTheBlock highlight Aave’s unrivaled leadership, boasting an impressive 45% market share in the DeFi lending space.

AAVE Dominance at 45% market share
AAVE Dominance at 45% market share | Source: IntoTheBlock on X

This dominance is further emphasized by Aave’s staggering total value locked (TVL), which stands at $21.2 billion—almost equal to the combined TVL of all other lending protocols.

Such figures underline Aave’s critical role in the DeFi ecosystem. Its established presence and robust infrastructure position it as a key player in the event of a broader DeFi resurgence. Should the sector heat up in the coming weeks, Aave is likely to attract significant attention from investors and traders.

Price Targets Fresh Supply Levels

Aave (AAVE) is currently trading at $366, following a surge to a multi-year high of $396 just hours ago. The altcoin continues its upward momentum as it approaches the critical $420 resistance level, a threshold last held in September 2021. This mark is seen as a pivotal area for AAVE’s next phase of price action, with many analysts expecting a significant reaction once tested.

Price testing crucial supply
Price testing crucial supply | Source: AAVEUSDT chart on TradingView

If AAVE manages to hold its current levels and sustain the bullish momentum, the next logical target would be the $420 resistance zone. Breaking above this level could signal a continuation of its multi-month rally, setting the stage for even higher price targets as investor confidence builds.

On the downside, failure to maintain support above the $320–$340 range could lead to a broader correction. A move below this zone might push the price lower, erasing some of its recent gains and dampening bullish sentiment in the short term.

AAVE remains in a strong position for now, but traders are closely monitoring its price action near these key levels. Whether it can sustain its upward trajectory or faces a pullback will depend on its ability to break and hold above significant resistance zones.

Featured image from Dall-E, chart from TradingView



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US Government Makes First AAVE Transaction In 8 Months

Published

2 months ago

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October 24, 2024

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The US government has ignited a selloff scare for AAVE after initiating its first transaction for the token in 8 months. According to data insights from Arkham Intelligence, the US Government transaction features a total of $5.4 million.

Is the US Government Earning With Aave?

Per the data shared, the funds were originally secured from the Bitfinex Hacker as marked by Arkham Intelligence. However, the exact transactions remains partly unclear considering the funds are paid out in USDC.

According to comments from the community, one explanation for this is that the US government locked up the funds on Aave. Based on this, it started earning interest as a liquidity provider on the Decentralized Finance (DeFi) lending platform.

This is a developing story, please check back for updates!!!

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Aave

AAVE Price Eyes $200 as Whale Buying Sphere Hits Key Fibonacci Support

Published

2 months ago

on

October 13, 2024

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AAVE price displays a modest downtick of 0.83% during Sunday’s low volatility trading. The pullback temporarily stalled the current recovery but allowed buyers to replenish the bullish momentum before the next leap. Amid the formation of a bullish reversal pattern, the recently recorded whale buying positions AAVE price for a sustained rally.

AAVE Price Targets $200 as Whale Buying Spree Aligns with Fibonacci Support

According to Lookonchain analytics, a crypto whale recently bought 31,173 AAVE tokens worth around $4.8 million and deposited them into Aave. Shortly after, the whale borrowed around 2.7M GHO stablecoin from the Aave protocol and swapped them for USDC.

These stablecoins were deposited into the Coinbase exchange to acquire more AAVE, projecting a bullish outlook for this smart money. The use of GHO, a stablecoin associated with Aave, further showcases confidence in the Aave ecosystem.

The supply distribution metric from Santiment indicates that large holders with wallet sizes between 1 million to 10 million AAVE initiated a buying spree in August. This accumulation has now reached 4.17 million AAVE, highlighting strong whale activity. 

This trend suggests increasing confidence among large investors in AAVE’s price potential, possibly hinting at further upside momentum in the market.

Aave [on Ethereum]Aave [on Ethereum]
AAVE Supply Distribution | Santiment

AAVE Hint Major Reversal Pattern Breakout

Following the early October sell-off, the AAVE price managed to stabilize above $135 support since last week. This support is reinforced by both the 50-day exponential moving average and the 38.2% Fibonacci retracement level, providing a solid foundation for a potential price reversal.

The 38.2% FIB is typically seen as an ideal pullback zone for buyers to regain control after a period of exhausted bullish momentum. The recent reversal has uplifted asset 12% up to trade at $152.5 and formed a bullish reversal pattern called a double bottom.

The chart setup resembles a ‘W’ letter and indicates a renewed bullish momentum for a breakout opportunity. If the pattern holds true, the AAVE price rally could breach the $154.8 neckline and drive a post-breakout rally to $180, followed by $200.

AAVE Price AAVE Price
AAVE/USDT – 1d Chart

Alternatively, if the AAVE buyers fail to sustain a neckline breakout, the sellers could revert the price lower and seek support at the $115 level.

Frequently Asked Questions (FAQs)

Recent whale buying has significantly boosted confidence in AAVE, with large holders accumulating 4.17 million AAVE. This activity, aligned with key Fibonacci support, is pushing the price toward the $200 target.

The 38.2% Fibonacci retracement level has provided a key pullback zone, allowing buyers to regain control and pushing AAVE’s price recovery

AAVE has formed a double bottom pattern on the daily chart, which suggests a bullish reversal

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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