AAVE rose 20% Wednesday to $170, a level not seen since May 2022. An asset in accumulation for more than two years is attracting traders and analysts who feel it has additional upside potential.

Analysis of refund policies and the regulatory context.

Coinbase surprised attendees at Breakpoint 2024 by announcing plans to roll out cbBTC wrapped Bitcoin on Solana, sparking immediate enthusiasm and positioning the asset for broader use across popular blockchain networks. At the Breakpoint 2024 event, Hassan Ahmed, Coinbases country director for Singapore, recently announced intentions to bring Coinbases new cbBTCa wrapped Bitcoin assetto the Solana network.

AAVE, a leading player in the decentralized finance (DeFi) space, is making waves in the cryptocurrency market as it attempts to break through significant resistance levels. With its price recently trading above $154, many analysts are eyeing a potential surge toward $200 by the end of the year.

The AAVE price surged 3% during the Sunday training session, defying the low volatility momentum in the broader crypto market. This high-momentum rally pushed the asset to a peak of $162.5, a level not seen since May 2022.

Bitcoin's rally to $64,000 increased traders' interest in altcoins like AVAX, SUI, TAO and AAVE.

AAVE, the second player in decentralized finance, has done well this year, jumping to its highest point since 2022.

In Q3, AAVE recorded remarkable growth on price chart and fundamentals. Can the alt reclaim its ATH?

Coinbase launched cbBTC on September 12, and within a week, the token has become the third-largest Wrapped Bitcoin in the market.

Aave's bullish momentum continues, driven by strong fundamentals, and sentiment.

Wrapped Bitcoin products allow users to retain asset control while using Bitcoin as collateral for decentralized finance applications.

To confirm a breakout from the 800-day range, the price needs to stay above $154 for an extended period.

AAVE is a decentralized protocol that allows users to lend and borrow a variety of cryptocurrencies without intermediaries. It has gained popularity due to its innovative features, such as flash loans and interest rate switching.

Sky may be the first of many to toe this path.

Sky, formerly MakerDAO, decided to remove the usage of Wrapped Bitcoin (WBTC) as collateral for borrowing through a governance vote concluded on Sept. 19. BA Labs, the former Risk Core Unit, was named stability advisor for the process.

Sky, a major DeFi lending protocol, has voted to remove wrapped Bitcoin as collateral due to concerns over its custodian's affiliation with Justin Sun

With WBTC being phased out, the protocol is now exploring alternative wrapped Bitcoin solutions.

Sky, formerly known as Maker, is divesting its wrapped Bitcoin following a community governance vote that was finalized on September 19.

The vote was passed with 88% in favor of offloading WBTC collateral from the Sky lending platform.

AAVE's bullish movement in the past month will likely extend further.

The matter has been closely followed in crypto markets, since the Sky platform has $200 million of loans collateralized by the token, and since WBTC is one of the biggest cryptocurrencies, with nearly $10 billion outstanding.

This week, Cryptoquant researchers highlighted a new rivalry heating up in the wrapped bitcoin market, with Coinbase's cbBTC stepping up to challenge Bitgo's long-established reign.

AAVE rejected at $146 resistance, now traders await either consolidation or a potential breakout.

Crypto custodian BitGo is set to enter the stablecoin market with plans to launch a dollar-backed USDS stablecoin by 2025, according to a Sept. 18 statement.

Based on Q3 returns, investors holding the other top DeFi blue chips were in losses, but not AAVE.

AAVE has been on a roll recently, showcasing a remarkable increase in value. In the last 24 hours alone, the token appreciated by 4.25%.

Aave price remains strong ahead of the launch of Trump's DeFi project, as Donald Trump survived his second assassination attempt in two months at his Florida golf club. The FBI confirmed that Trump is unharmed and quickly apprehended the suspect.

AAVE has recently posted gains that place it among the market's top performers, but this momentum may be short-lived.

Bitcoin's rally above $60,000 could trigger buying in FET, SUI, AAVE, INJ and other altcoins.

Coinbase recently introduced cbBTC, a wrapped version of Bitcoin designed to integrate with decentralized finance (DeFi) applications on Ethereum and Base networks. This new product aims to expand Bitcoin's utility beyond simple holding or trading, allowing users to participate in various DeFi activities without converting their Bitcoin to other cryptocurrencies.

Vitalik Buterin, the co-founder of Ethereum, has made headlines with his recent investment in the Aave protocol. By depositing 2.27 million USDC and 2,851 ETH—totaling approximately $6.73 million—Buterin has drawn substantial attention to Aave, igniting discussions about its future prospects and potential impact on the broader DeFi ecosystem.

Sky will begin removing WBTC from its SparkLend platform, with the process starting on September 26 through executive votes.

Aave (AAVE) has recently surged beyond the $150 mark, achieving a new yearly high. This upward movement has captured the attention of investors and analysts alike, who are now speculating about the possibility of a substantial price rally.

Crypto insights firm Santiment says that three altcoins are now worth keeping an eye on as one historically bullish indicator begins flashing.

AAVE bulls find resistance, leading to a mid-week pivot that could be the start of sizable wave of profit-taking.

TL;DR Sky proposes to withdraw WBTC from its loans and collateral due to risks associated with BitGo's custody of the asset. The recent redistribution of BitGo's multi-sig keys to third parties has raised concerns about the security of the underlying BTC.

Coinbase's cbBTC could significantly boost DeFi activities but raises concerns about centralization and security risks in decentralized finance. The post Coinbase Wrapped Bitcoin hits $100M market cap appeared first on Crypto Briefing.

Sky, formerly known as MakerDAO, will implement a multi-step program to unwind WBTC from its Sky Lend and legacy vaults. On October 8, BitGo will transfer custody of the underlying BTC to BitGlobal, raising concerns about counterparty risk.

James Fickel reduces ETH/BTC exposure, swaps 5K ETH for WBTC. Fickel faces $38.5M loss after aggressive ETH/BTC trades.

BitGo, the firm behind WBTC, announced last week that it would become a minority shareholder in its own project, while Justin Sun and BiT Global will be the majority stakeholders.

If approved, the proposal could affect $200 million in DeFi loans within Sky's ecosystem, making it a significant move for the platform.

Sky, formerly MakerDAO, is evaluating the removal of Wrapped Bitcoin from SparkLend over concerns about its ties to Justin Sun.

Ethereum's Vitalik Buterin has made a move, and it could have some implications.

Tron founder Justin Sun has launched an attack on Coinbase's recently launched variant of wrapped Bitcoin, cbBTC.

The team behind Sky, formerly Maker, wants to drop WBTC due to what it claimed were recent changes in ownership and control “likely involving Justin Sun or affiliates.”

Sky is considering a proposal to completely eliminate wrapped Bitcoin from its ecosystem due to concerns over custody and control.

BTC price trajectory has been a subject of intense scrutiny lately, particularly due to recent developments involving a major crypto whale. This whale is on the brink of a significant liquidation event involving Wrapped Bitcoin (WBTC) worth $28 million.