{"id":560488,"date":"2024-11-13T22:00:05","date_gmt":"2024-11-13T22:00:05","guid":{"rendered":"https:\/\/uniquehot.com\/?p=560488"},"modified":"2024-11-13T19:11:42","modified_gmt":"2024-11-13T19:11:42","slug":"aave-v2-operational-bulls-break-110","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/defi\/aave-v2-operational-bulls-break-110\/","title":{"rendered":"Aave V2 Operational, Will Bulls Break The 15-Month Resistance At $110?"},"content":{"rendered":"

All Aave v2 markets are now operational, the team behind the non-custodial liquidity protocol announced in a November 13 post on X. This a day after v3 markets were unfrozen following the approval from the community. <\/span><\/p>\n

Aave is a platform where users can supply liquidity in exchange for rewards while borrowers are free to take loans while paying interest in a trustless environment.<\/span><\/p>\n

Aave v2 Markets Unfrozen, Security Is “Non-Negotiable”<\/span><\/h2>\n

In the\u00a0<\/span>post<\/span><\/a>, Aave said the security of the decentralized finance (DeFi) protocol remains a “priority and is non-negotiable for the community.”<\/span><\/p>\n

On November 4, Aave\u00a0<\/span>said<\/span><\/a> they received a report “of an issue on a certain feature.” After being validated, the protocol decided to take a step and pause the operation of their v2 markets on Ethereum. At the same time, some v2 markets on Avalanche were frozen. Even so, the v2 markets on Polygon were unaffected.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Says One Day Left Until XRP Price Blast-Off, What To Expect<\/a><\/div>\n

Aave also froze operations on Aave v3 on Polygon, Arbitrum<\/a>, and OP Mainnet. However, v3 markets on Ethereum, Base, and Metis were unaffected.\u00a0<\/span><\/p>\n

While Aave v2 and v3 markets were frozen, the protocol clarified that users supplying or borrowing affected assets could still withdraw and repay their positions but couldn’t supply or borrow more. With those markets unfrozen, they can now continue as it was before.<\/span><\/p>\n

Will Bulls Ease Past $110?<\/span><\/h2>\n

The resumption of services, looking at the AAVE candlestick arrangements in the daily chart, has not impacted prices. However, the token is trading at around 2023 highs and remains within a bullish formation as optimistic traders expect the uptrend to continue.<\/span><\/p>\n

\"Aave<\/a>
Aave price trending upwards on the daily chart | Source: AAVEUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

Despite the uptrend, bulls have failed to break above the $110 resistance level. As it is, this reaction level marks August 2022 highs and has not been breached in the past 15 months.\u00a0<\/span><\/p>\n

The token has more than doubled at spot rates, rising from $50, a critical support level marking January and June 2023 lows. For trend continuation, there must be a solid breakout above $110 and the $60 range from where prices have been moving horizontally in a multi-month accumulation.<\/span><\/p>\n

Related Reading: Polygon (MATIC) Price Fueled By Increase In Whale Activity<\/a><\/div>\n

Still, it is unclear how the token will react in the days ahead and whether there will be more upside momentum as liquidity increases as activity resumes on Aave v2 markets.\u00a0<\/span><\/p>\n

\"Aave
Aave TVL | Source: DeFiLlama<\/figcaption><\/figure>\n

According to DeFiLlama\u00a0<\/span>data<\/span><\/a>, Aave is one of the largest DeFi protocols, with over $6 billion in total value locked (TVL). Most of these assets are locked in Ethereum<\/a>, where over $5.1 billion of tokens are under management.<\/span><\/p>\n

Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

All Aave v2 markets are now operational, the team behind the non-custodial liquidity protocol announced in a November 13 post on X. This a day after v3 markets were unfrozen following the approval from the community. Aave is a platform where users can supply liquidity in exchange for rewards while borrowers are free to take loans while paying interest in a trustless environment. Aave v2 Markets Unfrozen, Security Is “Non-Negotiable” In the\u00a0post, Aave said the security of the decentralized finance (DeFi) protocol remains a “priority and is non-negotiable for the community.” On November 4, Aave\u00a0said they received a report “of an issue on a certain feature.” After being validated, the protocol decided to take a step and pause the operation of their v2 markets on Ethereum. At the same time, some v2 markets on Avalanche were frozen. Even so, the v2 markets on Polygon were unaffected.\u00a0 Related Reading: Crypto Analyst Says One Day Left Until XRP Price Blast-Off, What To Expect Aave also froze operations on Aave v3 on Polygon, Arbitrum, and OP Mainnet. However, v3 markets on Ethereum, Base, and Metis were unaffected.\u00a0 While Aave v2 and v3 markets were frozen, the protocol clarified that users supplying or borrowing affected assets could still withdraw and repay their positions but couldn’t supply or borrow more. With those markets unfrozen, they can now continue as it was before. Will Bulls Ease Past $110? The resumption of services, looking at the AAVE candlestick arrangements in the daily chart, has not impacted prices. However, the token is trading at around 2023 highs and remains within a bullish formation as optimistic traders expect the uptrend to continue. Despite the uptrend, bulls have failed to break above the $110 resistance level. As it is, this reaction level marks August 2022 highs and has not been breached in the past 15 months.\u00a0 The token has more than doubled at spot rates, rising from $50, a critical support level marking January and June 2023 lows. For trend continuation, there must be a solid breakout above $110 and the $60 range from where prices have been moving horizontally in a multi-month accumulation. Related Reading: Polygon (MATIC) Price Fueled By Increase In Whale Activity Still, it is unclear how the token will react in the days ahead and whether there will be more upside momentum as liquidity increases as activity resumes on Aave v2 markets.\u00a0 According to DeFiLlama\u00a0data, Aave is one of the largest DeFi protocols, with over $6 billion in total value locked (TVL). Most of these assets are locked in Ethereum, where over $5.1 billion of tokens are under management. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":560491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83405],"tags":[79511,86582,89981,88321,89982,83417,54512,1946],"class_list":["post-560488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-aave","tag-aave-price","tag-aave-protocol","tag-aave-v2","tag-aave-v3","tag-aaveusdt","tag-defi","tag-ethereum"],"acf":[],"yoast_head":"\nAave V2 Operational, Will Bulls Break The 15-Month Resistance At $110?<\/title>\n<meta name=\"description\" content=\"All Aave v2 markets are now operational, Aave, the creator of the non-custodial liquidity protocol, has announced in a November 13 post on X\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/uniquehot.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Aave V2 Operational, Will Bulls Break The 15-Month Resistance At $110?","url":"http:\/\/uniquehot.com\/news\/defi\/aave-v2-operational-bulls-break-110\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/defi\/aave-v2-operational-bulls-break-110\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Crypto-news-Template110.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Crypto-news-Template110.jpg?fit=1380%2C780"},"articleSection":"DeFi","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["aave","aave price","aave protocol","aave v2","aave v3","aaveusdt","defi","ethereum"],"dateCreated":"2024-11-13T22:00:05Z","datePublished":"2024-11-13T22:00:05Z","dateModified":"2024-11-13T22:00:05Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Aave V2 Operational, Will Bulls Break The 15-Month Resistance At $110?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/defi\\\/aave-v2-operational-bulls-break-110\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/defi\\\/aave-v2-operational-bulls-break-110\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Crypto-news-Template110.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Crypto-news-Template110.jpg?fit=1380%2C780\"},\"articleSection\":\"DeFi\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"aave\",\"aave price\",\"aave protocol\",\"aave v2\",\"aave v3\",\"aaveusdt\",\"defi\",\"ethereum\"],\"dateCreated\":\"2024-11-13T22:00:05Z\",\"datePublished\":\"2024-11-13T22:00:05Z\",\"dateModified\":\"2024-11-13T22:00:05Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Crypto-news-Template110.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/560488"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=560488"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/560488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/560491"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=560488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=560488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=560488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}