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Tag: Signaling

  • AAVE daily fees skyrocket 200%, signaling lending market recovery

    AAVE daily fees skyrocket 200%, signaling lending market recovery

    AAVE daily fees skyrocket 200%, signaling lending market recovery

    • Aave’s daily fees increased by around 200% within the last three months.
    • They hit multi-month peaks of over $3 million per day, indicating intensified borrowing.
    • The surge reflects reinvigorated DeFi lending interest.

    Aave continues to dominate the DeFi lending market, this time attracting attention with serious figures.

    CoinGecko data shows daily fees on the blockchain have increased by more than 200% since May.

    That signals amplified on-chain activity and soaring demand for decentralised liquidity.

    Most importantly, the statistics signal DeFi borrowing resurgences.

    The chart shows AAVE’s 24-hour fees were below $1.2 million in early May.

    It had surpassed 43 million as of the end of July, printing multi-month highs.

    Revenue saw a modest gain (still below $500K) compared to collected fees, but the increase reflected enriched platform profitability.

    Furthermore, the chart reflects significant dips and spikes in fee activity, which indicates healthy volatility.

    Such fluctuations suggest an active lending market with healthy utilisation, and not instability.

    Meanwhile, daily fees are the revenue engine for Aave.

    The prevailing trend signals emerging resurgences for the protocol that saw flattened activity early in the year.

    What’s driving Aave fees?

    Borrowing demand is at the centre of the surging daily fees in the ecosystem.

    Individuals pay interest whenever they borrow on Aave, and these payments account for the highest portion of the daily fees.

    Fee income increases when more users take loans, possibly to chase price actions or leverage yield opportunities.

    Also, the latest integrations have propelled fees.

    For instance, users have deployed more than $60 million into yield-generating opportunities via MetaMask’s Aave-powered Stablecoin Earn feature.

    Such streamlined plug-ins make it smooth for retailers to access lending markets, enriching demand for AAVE’s liquidity pools.

    Moreover, the latest stable Ethereum price actions have encouraged users to (directly) interact with dApps again.

    ETH has performed well over the past few sessions, even driving the “altcoin season” narrative.

    Fees and protocol activity have surged as participants borrow assets, including stablecoins, from Aave.

    AAVE price outlook

    The native token reflected the increase in on-chain activity with notable gains.

    It has gained approximately 60% since May 1 to press time levels of $263.

    That makes it one of the top-performing DeFi assets this cycle – a notable feat, as meme coins, L2s, and centralized narratives dominate the trends.

    Meanwhile, the rising fees will possibly boost revenue in the upcoming sessions.

    That would bolster sentiments around Aave and its native coin.

    Continued borrowing activities will likely help the protocol cement its status in the DeFi lending landscape, which would bolster AAVE’s utility and price gains.

    Analyst CW predicts short-term recoveries for the altcoin.

    He highlighted that AAVE’s nearest resistance zone is at $325, a nearly 25% increase from the market price.

    Also, experts remain optimistic about AAVE’s performance.

    For example, the BitMEX co-founder recently purchased significant amounts of the token via over-the-counter.

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  • Crypto Whales Scoop Up $35M in Shiba Inu (SHIB), Signaling Bull Season

    Crypto Whales Scoop Up $35M in Shiba Inu (SHIB), Signaling Bull Season

    Shiba Inu (SHIB) price has increased by over 15% in a week as whales scoop up large amounts of the token. The transactions suggest that there might be a large group of whales stocking up on SHIB.

    Whales are heading over to meme coin Shiba Inu as large holders have purchased over $35 million in a day. The transactions have taken place as the price has been increasing considerably.

    SHIB is up over 11% in the last 24 hours, with a trading volume that exceeds $617 million.

    One whale bought about 119.3 billion SHIB, just as the token was breaking its resistance level. Another one bought a whopping 3.36 trillion SHIB, worth about $33.6 million. Remarkably, these are both new whales and both transactions took place in a span of 24 hours.

    Whales stock up on Shiba Inu (SHIB)
    Whale piling up SHIB: Etherscan

    As a meme coin, Shiba Inu can be unpredictable when it comes to its price. However, there have been some major developments happening in the ecosystem. The market has also been improving generally, with all assets seeing high price bumps over the past few days.

    Fellow meme coin DOGE also saw a huge increase in price, with the token increasing by over 21% in value. This bodes well for those who go after meme coins, though the price spike might not last long.

    SHIB Burn Rate Also Increases Massively

    The increase in SHIB price comes as the burn rate also spikes. The SHIB Burn tracker shows that the burn rate has risen by a massive 1,934% in the last 24 hours. This could be one of the reasons behind the price bump.

    SHIB has gone up in price by over 15% in the last week. The token is now $0.00001161, having been at around $0.00001001 seven days ago. The token has now crossed the $6 billion mark for the first time in nearly three weeks.

    Users Can Pay for Netflix and Amazon (Indirectly) Using SHIB

    There have been reports that SHIB holders may soon be able to pay for Netflix and Amazon services indirectly using SHIB. The payment feature comes thanks to FCF Pay, which says that it will soon support SHIB in its prepaid debit cards.

    Users are not paying for Netflix and Amazon directly. Rather, they are paying for the services through FCF Pay’s prepaid debit card and whatever crypto assets it supports.

    What the payment services provider does is convert the crypto asset into fiat at the point of purchase. Another move forward in terms of adoption is the fact that real estate brands Pacaso and Condos.com will also accept SHIB via BitPay.

    Disclaimer

    All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.



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