• Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt
No Result
View All Result
Card Bitcoin
Shop
Card Bitcoin
No Result
View All Result
Home Altcoin

DeFi Altcoin Aave Is Set Up ‘Very Well’ for Next Leg of the Rally Due to These Factors: Investor Arthur Cheong

n70products by n70products
October 5, 2024
in Altcoin
0
DeFi Altcoin Aave Is Set Up ‘Very Well’ for Next Leg of the Rally Due to These Factors: Investor Arthur Cheong
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


Enterprise capitalist Arthur Cheong believes that one decentralized finance (DeFi) altcoin could also be gearing up for a large breakout.

The DeFiance Capital CEO tells his 176,400 followers on the social media platform X that a number of components are signaling bullishness for lending platform Aave (AAVE).

He suggests Aave’s open curiosity (OI), which is the full variety of excellent derivatives contracts for a given asset, might have bottomed after a big decline within the final month.

“AAVE value is holding up very nicely regardless of the leverage flush on the perps over the previous few weeks:

1. Open Curiosity at 30 days low, dropped by 50% in comparison with September eleventh.

2. Funding fee destructive.

Set it up very nicely for the subsequent leg of rally.”

Image
Supply: Arthur Cheong/X

A destructive funding fee means there are extra quick positions than lengthy positions on AAVE, which some merchants understand to be a bullish indicator.

He additionally suggests that that Former President Donald Trump using Aave for the launch of World Liberty Monetary, his new DeFi crypto venture, could also be a bullish catalyst.

“For those who inform me in 2020 we could have a former and potential future President of the USA supporting the launch of a separate occasion on Aave, even the most important DeFi bull wouldn’t consider it. However right here we’re. ‘We are inclined to overestimate the impact of a know-how within the quick run and underestimate the impact in the long term.’”

Final month, he said Aave seemed to be breaking out of a multi-year consolidation sample on the weekly timeframe.

“AAVE is buying and selling on the highest degree since Could 2022 and appears to be breaking out from a two-year consolidation sample. Count on ATH (all-time excessive) reclaim to additional solidify DeFi Renaissance.”

Image
Supply: Arthur Cheong/X

Aave is buying and selling for $148.88 at time of writing, up 7.4% within the final 24 hours.

Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox

Examine Price Action

Observe us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Get Alerts

Disclaimer: Opinions expressed at The Each day Hodl aren’t funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses it’s possible you’ll incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in internet online affiliate marketing.

Featured Picture: Shutterstock/iurii/AtlasbyAtlas Studio





Source link

Tags: AaveAltcoinArthurCheongDeFiDueFactorsInvestorLegRallySet
Previous Post

Bitcoin sentiment in fear zone – Is now the time to buy BTC?

Next Post

Is Solana the next Ethereum? A Swiss crypto bank says ‘Yes!’

Next Post
Is Solana the next Ethereum? A Swiss crypto bank says ‘Yes!’

Is Solana the next Ethereum? A Swiss crypto bank says 'Yes!'

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Product categories

  • Bitcoin Book
  • Bitcoin Coin
  • Bitcoin Hat
  • Bitcoin Merch
  • Bitcoin Miner
  • Bitcoin Miner Machine
  • Bitcoin Shirt
  • Bitcoin Standard
  • Bitcoin Wallet
  • Products
  • Uncategorized

Related News

Tornado Cash Developer Files Motion for Courts To Dismiss ‘Fatally Flawed’ Criminal Indictments

April 1, 2024
Bitcoin: 98% of BTC wallets are in profit, but will it last? – THESE metrics say…

Bitcoin: 98% of BTC wallets are in profit, but will it last? – THESE metrics say…

May 12, 2025
Trader Issues Ethereum Alert, Says ETH Could Plunge 39% if Major Support Level Fails – Here Are His Targets

Trader Issues Ethereum Alert, Says ETH Could Plunge 39% if Major Support Level Fails – Here Are His Targets

February 7, 2025

Recents

Major crypto hacks fell 40% in May, says PeckShield

Major crypto hacks fell 40% in May, says PeckShield

June 1, 2025
XRP Multi-Timeframe Breakdown: Here’s What Comes Next

XRP Multi-Timeframe Breakdown: Here’s What Comes Next

June 1, 2025
ETH Price Recovery to $3,000 Soon Amid Staking Push for Ethereum ETFs

ETH Price Recovery to $3,000 Soon Amid Staking Push for Ethereum ETFs

June 1, 2025

CATEGORIES

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

BROWSE BY TAG

Altcoin ALTCOINS Analyst Binance Bitcoin Bitcoins Blog Breakout BTC Bullish Bulls Coinbase Crash Crypto DOGE Dogecoin ETF ETH Ethereum Foundation Heres high hits Key Level Major Market Memecoin Move Outlook Predicts Price Rally Report SEC Solana Support Surge Target Top Trader Trump Updates Whales XRP

© 2024 Card Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt

© 2024 Card Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version