#MiCA Amendment and DeFi Access
Sometimes regulatory guidance, more than prices, determines how far an on-chain sector can go.
Aave founder Kulechov expressed disappointment with his response to the MiCA consultation from the European Central Bank and the European Banking Authority. Both institutions advocate banning interest from stablecoin payments and propose limiting crypto-asset service providers (CASPs) from offering DeFi access to users.
After the news broke, the contract $AAVE traded at 184.68, down 0.15% since the announcement, down 0.12% over the past hour. Open position value increased by 0.61%, and the funding rate was 0.01%. Price barely moved, and positions are still adding—this regulatory stance has not yet been treated as a pricing variable.
What will determine whether the momentum continues is whether funding keeps flowing: it’s up 11.59% over 24 hours. The 24h low of 162.23 is the cost zone for this leg of the longs. As long as price holds above it and positions keep increasing, the rhythm is still there. A break below 162.23 would cut it off.
Sometimes regulatory guidance, more than prices, determines how far an on-chain sector can go.
Aave founder Kulechov expressed disappointment with his response to the MiCA consultation from the European Central Bank and the European Banking Authority. Both institutions advocate banning interest from stablecoin payments and propose limiting crypto-asset service providers (CASPs) from offering DeFi access to users.
After the news broke, the contract $AAVE traded at 184.68, down 0.15% since the announcement, down 0.12% over the past hour. Open position value increased by 0.61%, and the funding rate was 0.01%. Price barely moved, and positions are still adding—this regulatory stance has not yet been treated as a pricing variable.
What will determine whether the momentum continues is whether funding keeps flowing: it’s up 11.59% over 24 hours. The 24h low of 162.23 is the cost zone for this leg of the longs. As long as price holds above it and positions keep increasing, the rhythm is still there. A break below 162.23 would cut it off.
