A ray of hope for AAVE after a 30% discount
As one of the top 10 DeFi tokens, AAVE has had a wide range of moves in terms of price and investor behavior. In the past few days, however, the entire market has been chaotic, with prices rising and falling in a matter of hours.
This has panicked investors due to unpredictable losses. Fortunately for AAVE investors, the pessimism seems to be coming to an end.
AAVE 30% discount for 7 days
The Total Value Locked (TVL) in AAVE is currently $ 12.7 billion. However, just 5 days ago it was $ 15 billion. TVL’s decline was mainly due to a nearly 30% drop in AAVE prices during the week.
AAVE 4-hour chart | Source: TradingView
Since the drop in prices, investors have screamed as more than AAVE 10.86 million went into a loss, equivalent to nearly $ 3.281 billion. Those losses drove the network’s value to a two-month low.
AAVE’s MVRV hits 2-month low | Source: Santiment
However, it looks like the losing trend is coming to an end. In addition, this is also supported by investors. The previous massive sell will likely turn into a buy. AAVE’s drainage pattern also showed similar signs as it hit a monthly low.
What is the impact of this change?
In many ways, this has been shown to improve assets and owners. Investors raised their stops, first during the September 7 decline and the 33% rally that followed. But now they seem to be doing the opposite. This decline indicates more accumulation and HODL than sales.
AAVE sale comes to an end | Source: Glassnode
Even long-term owners have not changed their minds for the time being. Unlike before, when the number of days coins were destroyed increased and the price decreased, the numbers stayed low this time around.
In addition, profits are now rising again and investors are also becoming more active. The number of daily active addresses just hit a 4-month high today.
AAVE active addresses increase | Source: Santiment
Additionally, network growth is now at a 4-month high, suggesting that AAVE is actually picking up pace. Additionally, the Bitcoin Correlation Index is 0.86 which could help AAVE make a profit.
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A ray of hope for AAVE after a 30% discount
As one of the top 10 DeFi tokens, AAVE has had a wide range of moves in terms of price and investor behavior. In the past few days, however, the entire market has been chaotic, with prices rising and falling in a matter of hours.
This has panicked investors due to unpredictable losses. Fortunately for AAVE investors, the pessimism seems to be coming to an end.
AAVE 30% discount for 7 days
The Total Value Locked (TVL) in AAVE is currently $ 12.7 billion. However, just 5 days ago it was $ 15 billion. TVL’s decline was mainly due to a nearly 30% drop in AAVE prices during the week.
AAVE 4-hour chart | Source: TradingView
Since the drop in prices, investors have screamed as more than AAVE 10.86 million went into a loss, equivalent to nearly $ 3.281 billion. Those losses drove the network’s value to a two-month low.
AAVE’s MVRV hits 2-month low | Source: Santiment
However, it looks like the losing trend is coming to an end. In addition, this is also supported by investors. The previous massive sell will likely turn into a buy. AAVE’s drainage pattern also showed similar signs as it hit a monthly low.
What is the impact of this change?
In many ways, this has been shown to improve assets and owners. Investors raised their stops, first during the September 7 decline and the 33% rally that followed. But now they seem to be doing the opposite. This decline indicates more accumulation and HODL than sales.
AAVE sale comes to an end | Source: Glassnode
Even long-term owners have not changed their minds for the time being. Unlike before, when the number of days coins were destroyed increased and the price decreased, the numbers stayed low this time around.
In addition, profits are now rising again and investors are also becoming more active. The number of daily active addresses just hit a 4-month high today.
AAVE active addresses increase | Source: Santiment
Additionally, network growth is now at a 4-month high, suggesting that AAVE is actually picking up pace. Additionally, the Bitcoin Correlation Index is 0.86 which could help AAVE make a profit.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
At home at home
According to AZCoin News
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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