High Demand for Staking and Flash Loans Soars Aave’s Token Price 0 34

While Bitcoin (BTC) continues to struggle and keep up with its bearish nature, altcoins are constantly on the rise. There are many altcoins that have emerged as the new potentially strong assets for the investors. These altcoins are gaining a lot of adoption and success due to the products that are coming along the platforms.

One of the prominent and widely adopted cryptocurrency assets in the industry is Aave (AAVE). As per the recent reports, AAVE has been showing promising results and is constantly on the rise with respect to its price. The token has been gaining constant surge and is currently at all-time highs.

At the time of publishing, Aave (AAVE) is currently hovering at the $288.90 price and is showing no signs of slowing down. It is currently being considered one of the most popular decentralized financial protocols in the market.

As per many analysts, the DeFi sector is behind the success and surge in the price of Aave in the cryptocurrency industry.

The DeFi token “AAVE” has shown a very promising growth and adoption rate since the beginning of the year 2021. At the beginning of the year 2021, AAVE was trading at a price of $83 but it was clearly visible that it will be showing a lot of growth in the coming days.

However, AAVE continues to experience growth in its adoption rate and trading volume, soaring its price to the very it is today. Some of the major factors that came into play include development in Aave’s lending, derivatives exchanges, and spot trading platforms. In addition to these platforms, another major factor was the issuance of the flash loan.

The recent bullish nature of the DeFi token has proven to be a great driver in increasing the platform’s total value locked (TVL). One of the most prominent on-chain analyzing platform known as DeFi Plus has shared information around AAVE’s TVL.

The DeFi Plus platform has revealed that on the first of January, 2021, Aave’s total value locked (TVL) was $2.03. Since then, Aave’s total value locked (TVL) has only surged showing a parabolic growth, which is similar to that of Bitcoin (BTC) and Ethereum (ETH).

At the time of publishing, the total value locked showed by Aave is experiencing an all-time high figure of $3.75 billion. This has made Aave the second-largest decentralized finance (DeFi) platform with respect to total value locked (TVL). At present, the largest decentralized finance (DeFi) platform is Maker (MKR) with $23.12 billion as total value locked (TVL).

However, it has been observed that Maker (MKR) is not gaining as much rally as Aave (AAVE) is gaining at the moment. Many analysts are now speculating that Aave (AAVE) will soon come face to face with Maker (MKR).

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Central Banks Will Not Allow Bitcoin to Go Mainstream, Says Harvard Professor 0 4

Since the beginning of the year 2020, Bitcoin (BTC) has been flying high with respect to its price and market capitalization. There have been many mainstream institutions such as PayPal, MicroStrategy, and MassMutual that have played a huge role in deciding the fate of Bitcoin (BTC).

Although Bitcoin (BTC) had mustered a lot of user-base from the private sector, all it required was input from the mainstream sector. This is when PayPal announced that it was going to integrate Bitcoin (BTC) into its platform.

This worked like a charm for Bitcoin (BTC), and the largest cryptocurrency in the entire world got even bigger. Since then, Bitcoin (BTC) has been constantly gaining mainstream adoption and several institutions from around the world have adopted it.

However, similar to the president of the ECB, there are still many who still do not support the idea of adopting cryptocurrencies and Bitcoin (BTC) altogether.

Bitcoin (BTC) has been facing a lot of resistance and hard times from traditional financial institutions. It is the banks that are currently opposing the idea of Bitcoin (BTC) being dealt with as an asset for savings and investments.

The above speculation has also been confirmed by one of the professors from one of the world-renowned universities “Harvard”. Kenneth Rogoff, who is currently a Professor of Economics at Harvard talked about how the central banks currently perceive Bitcoin (BTC).

Rogoff stated that if people think that Bitcoin (BTC) has started gaining mainstream popularity, then they are mistaken. Despite all the success and attention, Bitcoin (BTC) is still far from gaining real mainstream adoption.

However, Bitcoin (BTC) currently has a very harsh and difficult journey ahead as the central banks from around the world are going to give a very hard time.

He stated that the central banks will not let Bitcoin (BTC) gain mainstream success and adoption. The professor stated that other cryptocurrencies are likely to face the same kind of treatment from the central banks.

He stated that for the time being, the majority of the cryptocurrency industry is unregulated. Many cryptocurrency firms in the industry do not adhere to the regulations that include AML and KYC policies.

For now, it is not possible for cryptocurrencies to be given mainstream status in the economy. The first thing that the governments would do is regulate cryptocurrencies and ensure that the policies are being adhered to.

Once the cryptocurrency regulations are streamlined and adherence is above satisfactory levels, then the cryptocurrencies stand a chance of being given mainstream status.

The words coming from Rogoff hold very high significance as he was one of the former chiefs at the IMF.

Bittrex Exchange Allowed Bitcoin to be Stolen, Claimed by Spanish Customer 0 6

As per the latest reports, the police authorities of the city of Tenerife have been given permission to investigate a case regarding Bittrex. As per sources, permission to look into the matter has been given by the Spanish court. The investigation has been launched by the Spanish court in response to a complaint that was launched by a Spanish Bittrex customer.

In the complaint, the customer has alleged to Bittrex that it was due to the exchange that he ended up losing his Bitcoin (BTC) to a theft. The plaintiff held the exchange responsible for the theft that led him to lose Bitcoin (BTC) that was worth $62,000.

As per sources, the cybercrime unit of the Tenerife police authority is currently investigating the matter. The cybercrime unit has stated that it will soon be sharing its preliminary findings around the matter. Then the police will be able to determine whether the exchange is to be held responsible for any involvement in the matter or not.

However, the plaintiff is continuing to blame the exchange for letting his Bitcoin (BTC) be stolen and taken away by the cybercriminals. He has claimed that the hacker was deliberately granted access to his wallet account on the exchange. As a result, the anonymous hacker was able to make away with around 1.3 Bitcoin (BTC) in the process.

One of the local reporting networks has revealed that the plaintiff himself is a resident of Tenerife city. The person claimed that it was May of 2020 when he had opened up his wallet account on the exchange for Bitcoin (BTC).

The plaintiff claimed that after creating the wallet account, he added 1.3 BTC to the same wallet account. Soon after making the deposit, he realized that his wallet with 1.3 BTC had been emptied and there was no sign of it.

Soon after learning about the theft, the first thing he did was get in touch with Bittrex so he got in touch with their customer support. Although he expected the team to support him, he got told by the customer support team that his account had been victimized by cybercrime.

The claimant also added in the report that he had hired a personal security expert in order to investigate the case. He wanted to get to the bottom of the theft and wanted to find the cybercriminals himself as he received no support from Bittrex.

The security expert hired by the claimant also shared his findings with the Spanish court. According to the report, Bittrex on four different occasions allowed the BTC wallet account to be accessed before the theft was attempted. The investigating expert also confirmed that the breach was observed from four different IP addresses.

All of the IP addresses used to breach the wallet account included Granada, United States, France, and Madrid.

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