{"id":291827,"date":"2021-07-06T14:36:18","date_gmt":"2021-07-06T11:36:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/aave-price-hits-3-week-high-as-aave-pro-debuts-for-institutional-lending\/"},"modified":"2021-07-06T14:36:18","modified_gmt":"2021-07-06T11:36:18","slug":"aave-price-hits-3-week-high-as-aave-pro-debuts-for-institutional-lending","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/aave-price-hits-3-week-high-as-aave-pro-debuts-for-institutional-lending\/","title":{"rendered":"# Aave price hits 3-week high as \u2018Aave Pro\u2019 debuts for institutional lending"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a381c83ba36c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a381c83ba36c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/aave-price-hits-3-week-high-as-aave-pro-debuts-for-institutional-lending\/#Fundamentals\" >Fundamentals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/aave-price-hits-3-week-high-as-aave-pro-debuts-for-institutional-lending\/#Technicals\" >Technicals<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Aave price hits 3-week high as \u2018Aave Pro\u2019 debuts for institutional lending <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Aave hovered near its three-week high on Tuesday, helped by the prospects of its foray into the mainstream through the launch of an institutional lending platform.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fundamentals\"><\/span>Fundamentals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dubbed as Aave Pro, the platform expects to become a \u201cpermissioned liquidity protocol\u201d by offering\u00a0institutions, corporates and fintech clients access to decentralized finance (DeFi). That said, it would follow strict regulations while onboarding participants, ensuring that their Ethereum addresses are safe-listed following a thorough Know Your Customer process.<\/p>\n<p>\u201cWe will have different kinds of permissioned markets so that DeFi will be more layered and tailored to specific needs,\u201d Stani Kulechov, founder and CEO of Aave, said during the online discussion event \u201cNext Steps for Institutional DeFi.\u201d<\/p>\n<blockquote><p>\u201cThe ability to whitelisting and blacklisting addresses would make it easier to scale institutions because it lowers the risk.\u201d<\/p><\/blockquote>\n<p>Aave Pro will go live in July with liquidity pools of Bitcoin (BTC), Ether (ETH), USD Coin (USDC) and its own token, Aave.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">What people have yet to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>reciate about Aave and Compound&#8217;s institutional products is that having doxxed institutional clients gives them an easy way to move into undercollateralized lending and credit markets.<\/p>\n<p>\u2014 Noah Goldberg (@TraderNoah) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TraderNoah\/status\/1411721441742045188?ref_src=twsrc%5Etfw\">July 4, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Bulls responded positively to Aave\u2019s institutional adoption. As soon as the rumor went live on Sunday, the AAVE\/USD exchange started trending upward, insomuch that it crossed $344 for the first time since June 14. At its second-quarter low, the pair was changing hands for approximately $165 \u2014 that marks a 108% jump.<\/p>\n<p>The massive upside move also took cues from a market-wide retracement trend. Bitcoin, the world\u2019s leading cryptocurrency by market capitalization, climbed approximately 25% after bottoming out at $28,600 on June 22. The same date saw AAVE\/USD falling to $165, which later led to a 108% bullish correction.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/9b4b64ae-1909-45a3-adfd-180299177e50.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Aave and Bitcoin prices almost moved in sync after they bottomed out on June 22. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Bitcoin trends typically prompt alternative cryptocurrencies, including Aave, to move in the same direction. Nevertheless, Aave\u2019s bias in the previous five days was consistently skewed to the upside, while Bitcoin struggled to maintain support above $35,000. That could have been due to Aave having better interim fundamentals than its top digital asset rival.<\/p>\n<p>Scott Melker, the author of the crypto-focused \u201cWolf Den\u201d <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1412129329870512142\">noted<\/a> Aave attracting massive capital inflows from the Bitcoin market via liquid instrument AAVE\/BTC. As a result, the pair grew 74.75% to reach 9,800 sats this Tuesday after finding support at 5,608 sats on June 27.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/f052d701-369c-474d-a4f2-8cabd429de44.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>AAVE\/BTC could hit 10,593 sats in the coming sessions. Source: Scott Melker, TradingView<\/em><\/figcaption><\/figure>\n<p>Melker\u2019s setup envisioned AAVE\/BTC above 10,000 sats.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Technicals\"><\/span>Technicals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Technically, AAVE\/USD appeared in a flying zone after breaking out of a bullish pattern.<\/p>\n<p>The pair earlier fluctuated between two converging trendlines that together formed a falling wedge structure. Falling Wedges begin wide at the top but contract as the price moves lower. Their bullish confirmation comes only after the price breaks above the resistance trendline in a convincing fashion, with higher volumes.<\/p>\n<p>In doing so, Falling Wedges\u2019 price breakouts set profit-target above by as much as the maximum height between their upper and lower trendlines.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/5150bdf4-c44b-42c6-a73f-744c6f01d074.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>AAVE\/USD falling wedge setup. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Aave\u2019s recent price action fits the falling wedge description so far. The cryptocurrency is now in a breakout stage while eyeing $542 as its profit target.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. 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Fundamentals Dubbed as Aave Pro, the platform expects to become a \u201cpermissioned liquidity protocol\u201d by&#8230;<\/p>\n","protected":false},"author":1,"featured_media":291828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvYmZjYzE3ZTItMmI1Yi00ODhlLWJlOWUtY2YxMjQwZTA2ZWVmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[92664,74867,88119,75302,79806,81951,74937,74982,74868,77595,74939,75150,90109,78261,73785],"class_list":["post-291827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-aave","tag-altcoin","tag-altcoin-watch","tag-altcoins","tag-analysis","tag-bitcoin-analysis","tag-bitcoin-price","tag-btc-markets","tag-defi","tag-lending","tag-market-analysis","tag-market-update","tag-peer-to-peer-lending","tag-tech-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/291827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=291827"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/291827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/291828"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=291827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=291827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=291827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}