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.
The action could impact $200 million of DeFi loans in the Sky ecosystem should the proposal pass.
Top US-based crypto exchange platform Coinbase is announcing the launch of Coinbase Wrapped Bitcoin (cbBTC), a Bitcoin (BTC)-backed Ethereum (ETH)-based token.
Aave shows strong growth potential with bullish trends as GHO grows as well.
The TRON founder's connection to WBTC has driven interest in alternatives, and Sun is not a fan.
Coinbase has unveiled Coinbase Wrapped Bitcoin (cbBTC), giving users a gateway to decentralized finance (defi) apps on Ethereum and Base, using bitcoin (BTC). The cbBTC token is essentially a wrapped version of bitcoin, fully backed by BTC held in Coinbase's custody.
Coinbase's launch of its wrapped Bitcoin, cbBTC, on the Base Network, is barely 24 hours old but is already causing some ruckus. Tron founder Justin Sun has a long list of concerns about the new product and has taken X to voice some of them.
Coinbase is moving forward with the launch of cbBTC, an ERC-20 tokenized bitcoin that will go live on Base and other Ethereum ecosystems.
Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin swapped a significant sum of ETH to deposit into a DeFi protocol, with traders predicting a bright future for it. What Happened: Lookonchain data shows that Vitalik Buterin deposited 2.27 million (CRYPTO: USDC) into Aave (CRYPTO: AAVE).
TL;DR Coinbase has launched cbBTC, a new version of Wrapped Bitcoin available on Ethereum and Base since September 12, 2024. cbBTC is an ERC-20 token backed 1:1 by Bitcoin and will be compatible with DEXs like Aerodrome and Curve, as well as lending protocols like Aave and Compound.
Coinbase, one of the largest and most respected cryptocurrency exchange platforms in the world, has recently introduced its version of Wrapped Bitcoin, called cbBTC. This new tool has been developed to bring the potential of Bitcoin into the growing ecosystem of decentralized finance (DeFi) on Ethereum and Base, the Layer 2 blockchain developed by Coinbase.
The Coinbase Wrapped Bitcoin will operate as an ERC20 token backed 1:1 with BTC held by the exchange on behalf of the users.
Three tokens have significant short interest and may see a squeeze of those positions. MANA, GRT and AAVE can extend their gains, erasing the accumulated short positions.
Coinbase launched its own version of wrapped bitcoin on Thursday after teasing the WBTC alternative in August.
The exchange plans to add support for other chains in the future.
AAVE has been one of the altcoins that have seen a recovery in both volume and price over the last week. This comes with a jump in positive sentiment associated with the DeFi token, enabling bulls to reclaim control of the price once more.
The token will initially be offered on Ethereum and Coinbase's Base networks, with plans to expand to more blockchains in the coming months.
Aave (AAVE), Decentraland (MANA), and The Graph (GRT) have emerged as three altcoins that could enjoy a price surge as the crypto market rebounds. Onchain analytics platform Santiment highlighted a crucial indicator proving these altcoins are worth watching.
This token is backed 1:1 by Bitcoin held securely by Coinbase, which brings a new level of utility to Bitcoin holders. Initially, cbBTC will be supported on the Base and Ethereum networks, with plans to expand to additional chains in the future.
The deployment of GHO has been limited to Ethereum and Arbitrum networks, at least for now.
A wallet linked to Vitalik Buterin made a deposit to Aave in ETH and USDC following a period of ETH sales. Buterin claims some of the sales were part of a previously preset CoW Swap liquidation to benefit a bio-defense organization.
Coinbase is rolling out cbBTC — Coinbase Wrapped BTC — an ERC20 token backed 1:1 by Bitcoin, which Coinbase holds. According to a press release shared with crypto.news, the cbBTC token is now available on Base and Ethereum (ETH).
The leading exchange puts forward cbBTC as a formidable new option in the DeFi space.
Coinbase's launch of cbBTC could significantly enhance Bitcoin's integration into DeFi, fostering a more interconnected and efficient financial ecosystem. The post Coinbase debuts Wrapped Bitcoin on Ethereum and Base appeared first on Crypto Briefing.