tBTC

DeFi

Arthur

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-drive-aave-demand" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Drive AAVE Demand</a><br></p>
<p style="text-align: justify">Veteran cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> are diligently monitoring whale activities in the market. Blockchain <a href="https://newslinker.co/category/technology/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">technology</a> enables tracking of major investments in various cryptocurrencies, aiding experts in utilizing on-chain tools to alert other investors. Recently, focus has been on the movement of “smart money” towards specific digital assets, with significant insights provided by these tracking mechanisms.</p>
<h2 id="why-is-aave-gaining-attention">Why is AAVE Gaining Attention?</h2>
<p style="text-align: justify">Arthur Cheong, a prominent crypto investor, highlighted a particular altcoin attracting substantial interest from seasoned investors: AAVE. Through his social media analysis, Cheong revealed that millionaire-level wallets have been accumulating AAVE, which has seen a dwindling supply on exchanges and increased demand, suggesting potential price hikes.</p>
<p style="text-align: justify">In his recent assessment, he stated, “The total supply of AAVE Coin on exchanges decreased by approximately $18.4 million in 30 days. Many ‘Smart Money’ wallets are accumulating AAVE.” Currently, AAVE is valued above $100 and is recognized for its long-term potential as the token of the largest lending platform in decentralized finance (DeFi).</p>
<h2 id="what-will-drive-defi-interest">What Will Drive DeFi Interest?</h2>
<p style="text-align: justify">Cheong believes that interest in DeFi will surge, supported by major centralized companies like <a href="https://en.bitcoinhaber.net/binance-announces-removal-of-defi-staking-service-for-bitcoin-and-ethereum" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, which have been backing new DeFi projects. For instance, BitGo’s decision on wrapped BTC (WBTC) and Coinbase’s announcement of its cbBTC are steps towards engaging more players in the DeFi space. These initiatives are expected to introduce various wrapped and bridged BTC versions into the ecosystem, potentially increasing the total value locked (TVL) in the sector to $20 billion.</p>
<p style="text-align: justify">“In the next 6-12 months, we will see various wrapped and bridged BTC versions entering the ecosystem, including cbBTC from Coinbase and tBTC from Thresold Network,” Cheong noted. He emphasized the importance of Coinbase’s distribution channel in integrating BTC into DeFi, which could also stabilize the ready-to-sell supply on exchanges.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– Monitoring whale activities can provide insights into significant market movements.<br> – AAVE is witnessing increased accumulation by seasoned investors, suggesting potential growth.<br> – The introduction of wrapped and bridged BTC versions is likely to bolster DeFi interest.<br> – Major centralized platforms like Coinbase play a crucial role in integrating cryptocurrencies with DeFi.</p>
<p style="text-align: justify">As interest in DeFi continues to grow, we can expect an increase in the value of tokens associated with decentralized exchanges (DEX) and lending platforms. Such developments could affirm the legitimacy and growth potential of the DeFi ecosystem, further driving investment and innovation in the sector.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-drive-aave-demand" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Drive AAVE Demand</a></h5>

Whales Drive AAVE Demand

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