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Aave Price Recovers As Grayscale Launches Aave Trust

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AAVE Price has recovered following Grayscale’s announcement of the launch of its Grayscale Aave Trust. This fund will provide institutional investors exposure to the decentralized finance (DeFi) token. This is significant as it provides a huge boost in the token’s adoption, which could lead to more price surges in the long term.

AAVE Price Recovers Following Launch Of Grayscale Aave Trust

The top DeFi coin rose above the $140 price mark on the back of Grayscale’s announcement of the launch of its Aave Trust. AAVE price had dropped to as low as $135 following a wave of crypto market sell-off. However, this recent development has provided a spark for the token, with a price recovery already on the horizon.

Grayscale announced in a press release the creation and public launch of its Aave Trust. The trust will offer investors the opportunity to gain exposure to AAVE, which is the governance token of the DeFi platform Aave.

Speaking on the development, Grayscale’s Head of Product and Research Rayhaneh Sharif-Askary said,

Grayscale Aave Trust gives investors exposure to a protocol with the potential to revolutionize traditional finance.

He added,

 By leveraging blockchain technology and smart contracts, Aave’s decentralized platform aims to optimize lending and borrowing while removing intermediaries and reducing reliance on human judgment.”

What To Know About The Trust

Grayscale also announced that the trust is now open for daily subscription by eligible individual and institutional accredited investors. The Grayscale Aave Trust will be similar to all other Grayscale closed-end single asset-investment trusts. Therefore, it is solely invested in the AAVE token rather than a basket of assets.

According to the Grayscale website, the net asset value (NAV) per share is currently $13.88. Meanwhile, the fund has $151,281 in assets under management (AuM).

Grayscale continues to lead the way in offering crypto investment products, as it now offers more than 20 crypto funds. This includes its Spot Bitcoin and Ethereum ETFs, which originally began as closed-end funds before being converted to Spot ETFs.

Therefore, there is the possibility that the Aave Trust could become an ETF at some point, which would provide more bullish momentum for the AAVE price. However, there would need to be regulatory clarity in the US for that to happen, considering how the US Securities and Exchange (SEC) continues to question the legal status of different crypto tokens.

At the time of writing, the AAVE price is trading at around $141, up almost 2% in the last 24 hours. Trading volume has also surged, with $316 million traded during this period.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

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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Ripple Defies US Blockade, Expands in Brazil with Mercado Bitcoin

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Ripple, a leading digital asset infrastructure provider, has partnered with Brazil’s largest crypto exchange, Mercado Bitcoin, cracking the newest possible blockade by the US Government.

The SEC, on October 2, filed a notice of appeal in the lawsuit with an aim to reverse a decision rendered by Judge Analisa Torres.

Ripple Expands to LATAM Despite SEC Battle

Legal analysts had argued that the SEC would appeal the 2023 decision, which held that secondary sales of XRP would not constitute a security transaction. Judge Torres found that XRP is a digital asset and does not meet all criteria of the SEC Howey test as an investment contract, meaning that a ruling found it is not, in and of itself, a security.

The company however decided to spread its business even further making its way to LATAM countries. In the latest statement, the firm said Mercado Bitcoin is leveraging its service in the quest to bolster its treasury operations internally between Brazil and Portugal.

The idea is to offer support for international payments both to corporate and retail customers, and facilitate transactions in Brazilian Reais. This makes Mercado Bitcoin the first user of enterprise-focused payment solution in Latin America.

As per the official statement:

“Ripple Payments offers unique capabilities that are important to crypto businesses enabling them to streamline operations, optimize liquidity, and ultimately improve margins through real-time payment settlement.”

The head of banking at Mercado Bitcoin, Jordan Abud, said that this partnership with is an opportunity for the exchange to further its services and internationalize. In fact, Brazil is a familiar market, considering how the company began operations in Brazil back in 2019 and also launched the Brazil Fund as it looks to foster the development of XRP Ledger (XRPL) in the country..

Latin America Domination with Stablecoin and Payments

Ripple is a financial technology company focused on enabling fast international money transfers. It’s also the company behind XRP, currently the seventh-biggest cryptocurrency by market capitalization. The company  was sued in 2020 by the SEC, which said the San Francisco company broke the law in raising money by selling its digital token without filing with the agency as a security.

The SEC filed its aforementioned appeal a day after Bitwise Asset Management Inc. became the first company to file with the securities regulator an application for an ETF that directly invests in XRP, the world’s seventh-largest digital token. Coming off last year’s partial win against the Securities and Exchange Commission – a result seen as a victory for the digital asset industry.

The company is continuing to grow and expand in Latin America after a deal earlier with Colombia’s central bank to explore central bank digital currency technology.

Since opening its Brazilian office, the company has identified the region as a “critical hub” for crypto innovation, tugged both ways by high adoption rates and increasing financial inclusion.

Ripple Labs CEO Brad Garlinghouse also recently said its US-dollar pegged stablecoin, RLUSD, will soon be released. “Weeks not months,” Garlinghouse added. He also explained that, as it prepares to launch its stablecoin-expected first to launch in the US before expanding internationally – Ripple is working proactively with US regulators toward compliance.

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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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Shiba Inu Analyst Warns of SHIB Price Drop as Shibarium Adoption Collapses, Points to $0.03 Altcoin for 5000x Gains

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In the cryptoverse, no coin is immune to fluctuating market forces. Shiba Inu hit highs of $0.000036 earlier this year but has been on a decline and is now at $0.000016.

This SHIB price drop is no accident; it’s a symptom of the trouble in its universe. Slowed Shibarium adoption and declining Shibaswap stakes means it’s time to reevaluate. According to a well-known Shiba Inu analyst, this $0.03 altcoin could offer 5000x gains.

In this bearish SHIB environment, RCO Finance (RCOF) is catching the eye of analysts with its growth and revenue trajectory and giving SHIB investors a chance to recover their losses.

The Rise and Fall of Shibarium: What Went Wrong?

Shibarium, the layer-2 scaling solution for Shiba Inu, was launched with much hype and expectation. Designed to solve scalability issues and reduce transaction costs, it was seen as a major step in SHIB’s evolution. But several factors such as technical issues, lack of developer support, limited ecosystem, heavy competition in a saturated market and changing investor sentiment have contributed to this decline.

These issues have caused analysts to worry about the long-term viability of the platform as investors are now looking for projects with strong fundamentals and real-world use.

This drop in Shibarium adoption has put downward pressure on SHIB’s price. Analysts say that without a dramatic turnaround, SHIB holders may see further price depreciation before the end of the year.

Introducing RCO Finance (RCOF): The $0.03 Altcoin with 5000x Gains Potential

As SHIB investors face losses, experts are looking at emerging projects that could offer big gains. A project that’s getting a lot of attention is RCO Finance (RCOF) currently priced at $0.03 per token.

This altcoin could be the lifeline for disappointed Shiba Inu investors as it’s looking to revolutionize the DeFi space with its next-generation platform and unique features.

First is the 100% integration of AI-powered tools. The AI robo-advisor provides personalized investment advice after analyzing historical data, market trends, price fluctuations and your personal preferences. With these insights, it identifies investment opportunities and automatically executes trades on your behalf. This automated trading approach allows investors to make informed decisions and capitalize on market movements while minimizing risk.

The platform offers access to a comprehensive DeFi ecosystem where users can interact with decentralized applications (dApps), decentralized exchanges (DEXs), and lending platforms. You also have numerous opportunities to earn passive income, such as yield farming opportunities and bonuses from liquidity pools.  

With automated market making, the platform utilizes dynamic pricing algorithms to ensure efficient trades. This means the price of your assets is not fixed but adjusted constantly based on supply and demand. 

The platform also offers enhanced security and privacy to its users by employing advanced security protocols to protect user data and assets. A favored feature is the non-KYC policy, which appeals to those who value anonymity in their transactions. A feature not found in traditional financial systems. 

To enhance data safety, SolidProof frequently audits all RCO Finance smart contracts to guarantee that they are safe and promote transparently. 

With its rich features and a token price that’s currently a steal at $0.03, RCO Finance has crypto enthusiasts buzzing. Some analysts are even going out on a limb, predicting a potential moonshot as more users flock to the platform. 

This Is The Best Time To Get In on This Deal

As cryptocurrency trends shift, RCOF finds itself poised for an amazing run. Its innovative features and ambitious roadmap present a new opportunity for smart investors to recoup their SHIB losses. 

Joining the presale offers users an early-stage investment opportunity to get these tokens at a discounted price of $0.034. With a listing price anywhere between $0.40 and $0.60, you are guaranteed to maximize your returns. Participate in the presale now and get a 50% bonus with your purchase. 

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

Visit RCO Finance Presale

Join The RCO Finance Community



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These 5 Altcoins May Be Delisted on Binance:

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Binance, the world’s largest crypto exchange, has flagged five altcoins for potential delisting.

This decision comes as the exchange added Bluzelle (BLZ), CLV (CLV), SelfKey (KEY), Prosper (PROS), and VITE (VITE) to its Monitoring Tag list, indicating increased scrutiny due to heightened volatility and risks.

Altcoins Crash Due to Risks of Binance Delisting

The Monitoring Tag is Binance’s method of singling out tokens that might not meet its stringent listing criteria anymore. The review criteria are thorough, assessing factors from the team’s commitment to the project, the quality and level of development activity, to the trading volume and liquidity. It also examines the stability and safety of the network and responsiveness to Binance’s periodic due diligence requests.

“Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” Binance warned.

Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?

Consequently, this alert triggered a sharp decline in the prices of these altcoins. VITE saw the most substantial impact, plummeting nearly 25%. PROS and CLV followed with drops of 15.74% and 15.22%, respectively.

Despite the market’s downturn, KEY and BLZ demonstrated some resilience. Initially, KEY’s value fell by 9%, but it later recovered, now showing a 7.35% decrease. BLZ also experienced a swift drop of 12%, yet it has largely regained its footing, now down by only 4.54%.

Furthermore, in a contrasting decision, Binance has removed the Seed Tag from two altcoins, Pendle (PENDLE) and Sei (SEI). This adjustment suggests these tokens have stabilized and are now considered less risky. The Seed Tag typically marks newer projects that inherently carry greater volatility and risks.

Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season

For those engaging with tokens under either the Monitoring Tag or Seed Tag, Binance requires users to pass specific quizzes every 90 days. These quizzes aim to ensure that traders are fully aware of the risks involved.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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