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Will AAVE Price Rally Following Aave Protocol Upgrade?

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5 hours ago

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AAVE began the year 2024 on a slow note but the overall look at the AAVE price shows it is gaining significant momentum. It rose over 118% in a year even though last week seemed sluggish. However, the protocol recently launched the v3.2 upgrade, and experts think that could boost the AAVE price rally.

This upgrade raises an important question as to whether this would continue and the protocol could make a new high, probably above the $200 level. The big question now is whether the momentum will persist as it reaches significant resistance levels.

AAVE Price Dips, But v3.2 Upgrade Signals Strength

Analysis of the recent AAVE price action reveals that the price has indeed been positive since October 2023, as it followed an ascending support trend line. Indeed, it successfully made multiple attempts to break above the resistance level of $150.

While the recent upgrade to Aave v3.2 has undoubtedly equipped the protocol with significant new functionalities that could underpin price rally.

Overall, the upgrade improves capital efficiency and user experience, both elements that could sustain growth. But at key resistance zones, the move into new highs would be highly contingent on wider market conditions at key resistance zones, user adoption in the feature set updates, and any influences emanating from regulatory development or overall market sentiment of the DeFi market.

In August 2024, the DeFi token price managed to close above this pivotal resistance, marking a breakout. After that, it reached the highest weekly close since 2022, including a new yearly high of $177.21 on November 23.

According to Michael Nadeau, founder of the DeFi report, this protocol is way ahead of its closest rivals, commanding an astonishing 64% share of the lending and borrowing market. At the same time, it has 4.6 times more active loans compared to its closest competitor, Spark Protocol.

As a matter a fact, this protocol has, together with MANA  and GRT recently emerged as three altcoins that could enjoy a price surge as the crypto market rebound.

While AAVE is indeed one of the top DeFi protocols, it should be duly noted that its active loans and TVL are around 60% lower than their all-time highs, with 84% of its loans currently deployed on the Ethereum network.

Efficiency Boost for DeFi Darling Amidst Market Volatility

The DAO is making an upgrade to v3.2-an upgrade that sets ground for a number of key improvements to the user experience and efficiency of the protocol.

Among these is Liquid eMode, which introduces more granular control for users over borrowings and collateral management through the ability to choose different eModes for listed assets. This new upgrade improves gas efficiency and could lower transaction costs for users, while offering extensive risk management options for one’s financial strategies.

Also, the removal of deprecated stable rate logic cleans up the operations and improves capital efficiency, which makes the protocol more attractive for those users that want to optimize their assets. This change had been discussed in the community and through governance proposals, reflecting active community involvement with the development of AAVE.

The v3.2 upgrade could positively influence AAVE price by enhancing the protocol’s efficiency and user experience, which may attract more users and increase total value locked (TVL). Additionally, improvements such as Liquid eMode and customizable risk management options could make the protocol more competitive in the DeFi lending market, potentially driving demand for AAVE tokens as users engage more actively with the platform.

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Teuta

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.

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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Rookie Dogecoin Trader that Turned $1000 to $1M Unveils Next Big Bet Aiming for a 12,000x Bull Run by Q1 2025

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8 hours ago

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October 8, 2024

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After turning $1,000 into $1 million with Dogecoin, a rookie trader is setting his sights on RCOF as his next major investment. 

With predictions of a 12,000x bull run by Q1 2025, RCO Finance (RCOF) is quickly establishing itself as the presale token to watch in Q4 of 2024. Let’s see why you should also capitalize on this investment opportunity! 

RCO Finance introduces a New AI Trading System Featuring A Robo-Advisor 

Just as Dogecoin captured the public’s imagination and created crypto millionaires, RCO Finance is quickly emerging as the next big opportunity. 

RCO Finance (RCOF) is at the forefront of integrating AI with financial services, presenting a DeFi trading platform designed for beginners and seasoned traders.

Thanks to its flagship Robo Advisor, which creates a new reality in investment by making it as simple as having a cold beverage in the sun. 

This smart software analyzes market trends, assesses risks, and initiates trades, so you can watch the business world go by without having to look at screens all day.

The AI Robo advisor also looks at factors such as the financial profile of the user, the risk profile, and the market profile of the investor. The trading tool intelligently analyzes the market and shows clients where to invest or adjust their portfolios at any moment.

RCO Finance (RCOF): Leading the Future of Trading

RCO Finance is an AI trading platform that supports over 120,000 digital assets in 12,500 classes. This wide range of assets helps increase liquidity and simplify portfolio management, as the client does not have to perform fiat swaps to carry out trades directly.

The DeFi platform’s smart contracts execute automatically when specific conditions are met, eliminating the need for intermediaries. RCO Finance has undergone a rigorous audit by the reputable firm SolidProof to bolster user confidence in their investments further.

To increase the rate of returns, RCO Finance has provided staking for assets in the liquidity pool, keeping reserves for trading pairs, and instant asset swapping. 

The AMM feature works based on supply and demand markets to ensure the most favorable transaction rate.

Whales Accumulate 1 Billion DOGE

Since the last few days, whales have accumulated approximately 1 billion DOGE. This suggests the token price support to rise after it started at a downward spiral in October’s first few days. 

While Dogecoin (DOGE) was valued at $0.13, it dropped by 15%, indicating that whales may capitalize on the dip.

Santiment shows that DOGE supply held by address with 100M-1B coins increased from 29.88B to 30.88B, revealing that whales bought 1 billion coins in 2 days, costing around $100M. Significant buying entices investors, and if this continues, an upward price movement may occur.

Investors holding time for Dogecoin have surged, indicating anticipation of gains. Juan Pellicer from IntoTheBlock suggests this buying is crucial for Dogecoin’s recovery, with “Coins Holding Time” up 536% in the past week, signaling many are choosing to hold rather than sell.

DOGE Millionaire Expects 12,000x RCO Growth Next Year

The Dogecoin trader who turned a $1,000 investment into $1 million is now endorsing RCOF, predicting its price could soar by 12,000% by 2025. This expectation, combined with the token’s embedded deflationary feature, has reportedly boosted market demand in its token presale.

In its second presale stage at $0.0344, forecasts suggest RCOF could surge to $0.60 upon its market debut. 

Early adopters could see returns exceeding 1,000%, with some projections indicating that RCOF may replicate Dogecoin’s remarkable rally in 2021 by 2025.

Unlike many platforms that depend on fixed liquidity from a set token supply, RCO Finance takes an innovative approach. It allocates 20% of each new user’s RCOF deposit to provide liquidity, ensuring consistent and attractive Annual Percentage Yields (APYs) for RCOF holders.

Invest in RCOF now and seize the opportunity to make significant gains!

For more information about the RCO Finance (RCOF) Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

 



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Scroll Secures Listing On Binance Sparking Optimism, SCR Price Rally Ahead?

Published

9 hours ago

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October 8, 2024

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The renowned zero-knowledge rollup Scroll (SCR) marked a milestone achievement on Tuesday. Notably, as the crypto exchange Binance added the token as its 60th launchpool project, a bullish market sentiment engulfed the coin. Meanwhile, crypto market enthusiasts speculate whether the enhanced offering by one of the leading exchanges could fuel a positive impact on the token’s price action ahead.

Scroll (SCR) Sacks Spot As 60th Project On Binance Launchpool

According to an official Binance announcement dated October 8, the crypto exchange is readying to be the first platform to list Scroll (SCR), with pre-market trading starting from October 11 at 10 UTC. “Any claims to offer this token for sale before the stated timeline are likely to be false advertising,” the announcement added.

Binance Launchpool is adding Scroll as the 60th launchpool project after Telegram-based Catizen (CATI). The platform’s colossal user base will be able to lock BNB and FDUSD so they can receive SCR airdrops over two days. Further, the farming for the token starts October 9, the exchange added. Moreover, SCR pre-market listing is set to happen on October 11 at 10 UTC, with an open pre-market pair SCR/USDT.

The launchpool will encompass a max token supply of 1,000,000,000 coins. Further, the launchpool rewards will encompass 55,000,000 coins, equivalent to 5.5% of the total token supply. In addition, the initial circulating supply while listing on the exchange is set at 190,000,000 coins, worth 19% of the total token supply. Altogether, Binance’s listing announcement, offering users enhanced trading offerings, has reverberated for the Bytecode-level compatible zkEVM rollup across the broader market.

Will Listing Ignite Price Rally Ahead?

Intriguingly, as mentioned above, CATI secured listing on Binance as the 59th launchpool project. The token has extended its gains to over 490% since its listing on September 20 to date. This saga indicates that the top crypto exchange’s listings ignite a positive impact on a token’s price.

Additionally, another Telegram-based crypto project Hamster Kombat (HMSTR) secured listing as the 58th launchpool project on the platform. HMSTR price extended gains to over 343% since its listing on September 26 to date. Collectively, these past listings have added to optimism on Scroll (SCR) price action ahead.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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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Economist Says Dogecoin (DOGE) And Shiba Inu (SHIB) Will Reach New ATHs This Cycle, But This $0.03846 Crypto Will Perform Better

Published

10 hours ago

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October 8, 2024

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Just recently, an economist predicted that both Dogecoin (DOGE) and Shiba Inu (SHIB) could reach new all-time highs in the upcoming crypto cycle, drawing attention from investors hoping to capitalize on the incoming success. However, while these well-known tokens are expected to make significant gains, this $0.03846 crypto, ETFSwap (ETFS), is quietly positioning itself to outperform them. 

ETFSwap’s (ETFS) Set To Record Huge Gains For Investors Following ETF Trading DApp Announcement

Currently selling for $0.03846 per token, one crypto economist believes ETFSwap (ETFS) has the potential to deliver incredible returns due to its revolutionary solution. ETFSwap (ETFS) is a crypto and ETF trading platform that cooperates with financial institutions that are MiCa compliant to provide safety for tokenized assets backed up with real securities. 

Additionally, its highly anticipated crypto ETF trading Phase 1 beta platform facilitates trading in perpetuals, futures, and tokenized ETFs, providing users with a comprehensive trading experience. After Windows UI examinations are successfully concluded, the beta platform is set to be launched soon, allowing users to engage in several liquidity pools and staking options while utilizing real time ETF pricing and swapping facilities. 

With the upcoming launch, ETFSwap promises to revolutionize the market, offering traders a user-friendly experience with advanced tools such as the ETF Tracker and ETF Screener. These AI-powered tools will analyze price movements based on real-time market data and trends and recommend the best trades. To reassure users of its security, ETFSwap (ETFS) underwent a thorough audit by CyberScope, a leading name in blockchain security. 

This rigorous process, combined with partnerships with MiCa-compliant regulated investment banks, guarantees a secure trading environment for all investors. With the final presale stage underway, ETFSwap (ETFS) presents a compelling opportunity for investors. Moreover, with plans to launch its own ETF by 2025, the crypto economist believes the ETFS token will surge by over 5,000% and potentially outperform Dogecoin and Shiba Inu. 

Dogecoin (DOGE) Set For Potential Return After Monthly Surge 

Dogecoin (DOGE) has been making waves in the crypto world once again, catching the attention of both casual investors and seasoned analysts. The token has seen a notable surge of over 6% in the last month, with a number of market players now asking about the possibility of a larger run. A certain economist, however, suggests that Dogecoin, which has yet to fully participate in the bullish trend of this cycle, could be very close to it’s all-time high this time around, a possibility that has many in the crypto community buzzing with excitement.

The economist points to several factors contributing to Dogecoin’s potential breakout, including renewed interest in the meme coin and the broader bullish trend seen across the crypto market. Its resilience, coupled with strong community support, makes Dogecoin (DOGE) a key player in the cryptocurrency market.

Can Shiba Inu (SHIB) Go Back To Its Winning Ways?

Starting out as just a dog-themed meme coin, Shiba Inu has become a huge favorite in the crypto industry, developing rapidly thanks to its active community support and investor adoption. This has made Shiba Inu one of the top-performing meme coins in the market, though its path to consistent growth has been rocky. 

According to CoinMarketCap, Shiba Inu (SHIB) is currently trading at a weekly price range between $0.00001708 and $0.000020. With a 19% surgein the last month, an unnamed economist has predicted Shiba Inu (SHIB) to see a retracement and mirror its previous positive trajectories. This prediction has spurred optimism within the Shiba Inu (SHIB) community, with many anticipating a positive outcome.

Conclusion 

This economist’s predictions highlight potential growth for Dogecoin (DOGE) and Shiba Inu (SHIB) as they prepare for new all-time highs. Meanwhile, ETFSwap (ETFS) is emerging as a strong contender in the crypto market, offering unique opportunities through its focus on ETF tokenization. As investors anticipate the next cycle, all eyes will be on this new project and its ability to transform the ETF market and the general crypto industry.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

 



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