The community-centered approach to Web3 — Aave founder and CEO

Aave founder and chief executive officer Stani Kulechov said the firm was continuing to develop its decentralized social media platform, with Web3 potentially changing the way many view ownership. Speaking to Cointelegraph at the Collision conference in Toronto on Thursday, Kulechov said Web3 — a buzzword often thrown around which generally describes the next evolution of an internet based on blockchain technology — could impact how people use social media in much the same way cryptocurrency changed perceptions on finance. The Aave CEO remarked how developers had adapted protocols to…

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BTC, ETH, XTZ, KCS, AAVE

After declining for eight successive weeks, the Dow Jones Industrial Average rebounded sharply last week to finish higher by 6.2%. However, Bitcoin (BTC) has not been able to replicate the performance of the United States equities markets and is threatening to paint a red candle for the ninth week in a row. A positive sign is that Bitcoin whales have been buying the market correction. Glassnode data shows that the number of Bitcoin whale wallets with a balance of 10,000 Bitcoin or more has risen to its highest level since…

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Aave launches open-source platform for social networking DApps on Polygon

Aave (AAVE) has announced a new project called the Lens Protocol that focuses on helping developers build social networking decentralized applications (DApps) on the Polygon blockchain.  Apart from social media DApps, the liquidity market protocol creators aim to use nonfungible token (NFT) technology along with Lens’ open-source blockchain tech to allow developers to create marketplaces, recommendation algorithms and other applications. According to Aave, this will allow users to completely own their own data and give creators new monetization opportunities. Lens Protocol allows users to have a single Lens profile that…

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Aave price risks a 25% plunge as a classic bearish reversal pattern emerges

Technical analysis suggests that a recent uptrend in the price of Aave (AAVE) is showing signs of exhaustion based on early development of a classic bearish reversal pattern. Is AAVE headed to $70? Dubbed a “rising wedge,” the pattern surfaces when the price rises inside a range defined by two ascending, converging trendlines. As it happens, the trading volume declines, pointing to a lack of conviction among traders when additional buying is needed for continued upside momentum. Therefore, falling wedges typically result in a bearish breakout where the price breaks…

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Aave founder Stani Kulechov briefly suspended from Twitter after joking about becoming interim CEO

Aave (AAVE) founder Stani Kulechov was temporarily suspended from Twitter this week, mere hours after joking that he was joining the social media company as interim CEO. “BREAKING: Joining Twitter as interim CEO,” Kulechov tweeted on Tuesday in a post that was intended as a joke. The tweet was timestamped at 2:48 pm PST (9:48 pm UTC). The following day, the Aave founder’s account was suspended, a spokesperson confirmed to Cointelegraph. The spokesperson also confirmed that it was Kulechov’s first suspension on the social media platform and that he had not…

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DeFi token AAVE eyes 40% rally in May but ‘bull trap’ risks remain

A sharp rebound move witnessed in the Aave (AAVE) market in the last three days has raised its potential to rise further in May, a technical indicator suggests. AAVE price rebounds from key support Dubbed a “rising wedge,” the pattern appears when the price rises inside a range defined by two ascending, contracting trendlines. It typically resolves after the price breaks below the lower trendline with convincingly rising volumes. AAVE has been painting a similar ascending channel since early February 2022. The AAVE/USD pair has bounced in the past few days after…

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BTC, VET, THETA, RUNE, AAVE

Bitcoin (BTC) is attempting to hold above its closest support level and traders are watching to see if the price can remain strong and close above the 2022 yearly open price at $46,200 for the second week in a row. April has historically been the best performing month of the year for the S&P 500, according to Sam Stovall, chief investment strategist at CFRA. If history repeats itself and the close correlation between the U.S. equity markets and Bitcoin continues, it could bode well for the crypto markets in the…

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Aave v3 launch triggers 50% rally from long-term descending channel pattern

The decentralized finance (DeFi) market has been undergoing a period of maturation over the past year and many of last year’s fast risers have faded into obscurity but this does not mean the formerly “famous” protocols have not continued to build. One blue-chip project that is regaining momentum is Aave (AAVE), a non-custodial liquidity protocol that allows users to lend, borrow or stake their assets to earn yield from their holdings. Data from Cointelegraph Markets Pro and TradingView shows that the price of AAVE has rallied 110% from a low…

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Aave launches V3 liquidity pool following unanimous governance decision

Decentralized finance (DeFi) protocol Aave has announced the launch of Aave V3, marking a significant evolution on the existing model of liquidity pools by promising to improve financial efficiency, bolster current safety and security measures, foster greater decentralization via DAO development, as well as enhance the user-interface design. Holders of the project’s native tokens, AAVE, are eligible to participate in Aave Improvement Proposals (AIPs) – an on-chain governance voting mechanism that grants token holders the opportunity to propose, and vote upon, network upgrades for implementation within the core protocol. Published…

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Aave launches Web3 social media platform, Lens Protocol

Aave (AAVE), the decentralized finance lending platform, launched the Lens Protocol ecosystem on the Polygon (MATIC) blockchain as their way to challenge centralized social media platforms like Twitter or Facebook. What started with an open letter to garner support around the idea that content creators should own and control their digital identities, led to developing a Web3-native social network powered by nonfungible tokens (NFTs).   In a Twitter Spaces conversation the company hosted this week, Stani Kulechov, CEO and founder of Aave, described the mission behind Lens Protocol. “We wanted to build a…

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