Crypto Aave gains 11% from a planned burn
Aave is up 11% since midnight UTC this Tuesday, September 29, as its founder Stani Kulechov expects a burn in Aavenomics 3.0. All of this while the U.S. 10-year yield remains at 5.234%. Meanwhile, the crypto market does not seem impressed at all.
Aave gains 11% since midnight UTC and 13% in 24 hours, the best-performing DeFi move.
Stani Kulechov expects a burn mechanism in Aavenomics 3.0.
72 out of every 100 crypto assets are advancing, despite a U.S. 10-year yield of 5.234%.
Crypto: Aave rises 11% after signs of a token burn
Aave stands out. The token is up 11% since midnight UTC and 13% in 24 hours, to $166.55 according to CoinDesk, and is the biggest gain among the 20 CoinDesk 20 names. The trigger? Speculation about “Aavenomics 3.0” that Stani Kulechov, founder of the protocol, said he plans to include a burn mechanism in the next update. The crypto market heard the word “burn,” and buyers reacted.
The backdrop isn’t very encouraging because the U.S. 10-year yield is at 5.234%, close to levels not seen since 2007. The 30-year yield is 5.549%, after a peak above 5.56% on Monday, near a high not seen since 2004. Wall Street pulled back for a second straight session, with the S&P 500 down 0.8% and the Nasdaq down 0.9%. Still, DeFi is moving higher because the DeFi Select Index (DFX) is up 5.0% since midnight. Curve (CRV) is up 5.2% and Uniswap (UNI) is up 4.0%.
Meanwhile, bitcoin erases Monday’s losses and trades at $84,170, up 0.82% since midnight UTC and 1.4% over the past 24 hours. Downward bets on the crypto queen are deflating. Open positions in futures contracts fall to 644,000 BTC, from 650,000 yesterday, the lowest level since March 4.
$AAVE
$CRV
$UTZ.US
#AAVE
Aave is up 11% since midnight UTC this Tuesday, September 29, as its founder Stani Kulechov expects a burn in Aavenomics 3.0. All of this while the U.S. 10-year yield remains at 5.234%. Meanwhile, the crypto market does not seem impressed at all.
Aave gains 11% since midnight UTC and 13% in 24 hours, the best-performing DeFi move.
Stani Kulechov expects a burn mechanism in Aavenomics 3.0.
72 out of every 100 crypto assets are advancing, despite a U.S. 10-year yield of 5.234%.
Crypto: Aave rises 11% after signs of a token burn
Aave stands out. The token is up 11% since midnight UTC and 13% in 24 hours, to $166.55 according to CoinDesk, and is the biggest gain among the 20 CoinDesk 20 names. The trigger? Speculation about “Aavenomics 3.0” that Stani Kulechov, founder of the protocol, said he plans to include a burn mechanism in the next update. The crypto market heard the word “burn,” and buyers reacted.
The backdrop isn’t very encouraging because the U.S. 10-year yield is at 5.234%, close to levels not seen since 2007. The 30-year yield is 5.549%, after a peak above 5.56% on Monday, near a high not seen since 2004. Wall Street pulled back for a second straight session, with the S&P 500 down 0.8% and the Nasdaq down 0.9%. Still, DeFi is moving higher because the DeFi Select Index (DFX) is up 5.0% since midnight. Curve (CRV) is up 5.2% and Uniswap (UNI) is up 4.0%.
Meanwhile, bitcoin erases Monday’s losses and trades at $84,170, up 0.82% since midnight UTC and 1.4% over the past 24 hours. Downward bets on the crypto queen are deflating. Open positions in futures contracts fall to 644,000 BTC, from 650,000 yesterday, the lowest level since March 4.
$AAVE
$CRV
$UTZ.US
#AAVE
