What happened

The price of many altcoins rose today as cryptocurrencies moved higher and the broader market jumped. The Dow Jones Industrial Average had risen more than 647 points as of 2:50 p.m. ET and the Nasdaq Composite was up nearly 1.5%.

Over the past 24 hours, the price of Fantom (FTM 7.54%) traded roughly 16% higher, Loopring (LRC 17.85%) jumped roughly 25%, and Aave (AAVE 10.59%) was up roughly 15%.

So what

Some on social media are attributing the rise in Fantom to rumors that Andre Cronje, a well-known developer in the decentralized finance (DeFi) space, might be coming back to the project. In March, Cronje’s colleague Anton Nell announced that he and Cronje were leaving DeFi for no clear reason.

But recently, people have noticed Cronje working on Fantom-related projects on GitHub, a platform for developers. People have also noticed that Cronje’s crypto…

ATOM was trading over 15% higher on Friday, as prices rose for a second consecutive session. Today’s rise took ATOM to its highest point since the start of the week, and comes as AAVE neared a 10-day high.

Cosmos (ATOM)

ATOM was one of the biggest movers in Friday’s session, as price climbed to its highest point since the beginning of the week.

Following a low of $10.55 on Thursday, ATOM/USD surged by over 15% on Friday, hitting a peak of $12.12 in the process.

The move comes as ATOM used yesterday’s support point of $9.90 as a springboard to these heights, following a huge bearish drop the day prior.

Today’s surge now sees prices approaching a ceiling of $12.35, which has been in place since May 11, following almost two weeks of declines.

Looking at the chart, after breaking out of one resistance level of 34, the Relative Strength Index is now…

• Bitcoin price is still holding the key USD 30,000 level.
• Ethereum remains above USD 2,000, XRP is consolidating above USD 0.40.
• SAND and AAVE are up around 11%.

Bitcoin price remained well supported above the USD 30,000 level and even tested USD 30,500. It is currently (13:50 UTC) trading near USD 30,300.

Similarly, most major altcoins are also consolidating their gains. ETH tested USD 2,050, while XRP is stuck near USD 0.42. ADA is still facing resistance near the USD 0.55 level.

Total market capitalization

Bitcoin price

After breaking the USD 30,000 resistance, bitcoin price tested USD 3,500 before moving lower again. It’s up 3% in a day and 4% in a week. On the upside, an initial resistance is near the USD 30,500 zone. The next key resistance is still near the USD 31,200 and USD 31,500 levels.

An…

For many people, this is the first time seeing that it is possible to lend and borrow on DeFi. We have truly transitioned into a world where intermediaries & central authorities can be removed from financial transactions; now, the power is in our hands.

The lending and borrowing process embedded in DeFi is permissionless, and these transactions are carried out on Decentralized exchanges. These exchanges ensure that peer-to-peer transactions are completed without any interference by an intermediary.

An intricate aspect of borrowing and lending is the decentralized protocols through which the transactions are verified and completed. This is where AAVE, Compound, and Mountanaz (MNAZ) come in. Let’s look at how borrowing and lending have been made accessible in DeFi and how people can expand to different areas of the metaverse.

AAVE

When you look at the construct of AAVE, you would…

The world of decentralised finance (DeFi) is progressively growing to embrace a major portion of the worldwide financial lending market. As the crypto ecosystem is continuously expanding, new products and services have developed as a result of the innovation in blockchain technology. Quitriam Finance (QTM) goes live to provide improved DeFi solutions.

Next-generation financial services

Lending and borrowing are now an essential aspect of the crypto economy, particularly with the rise of DeFi. Lending and borrowing are two of the conventional financial system’s main services that most people are familiar with through their personal experience.

Lending and borrowing operations may be carried out in a decentralised way in…

Are you looking for new investment opportunities in the crypto world? If you are then you have to check out Parody Coin (PARO), Aave (AAVE), and Algorand (ALGO)! These coins are worth watching – especially given the current market conditions. So what are you waiting for? Start exploring today!

Parody Coin (PARO):

Parody Coin (PARO) is a deflationary coin built on the Binance Smart Chain (BEP20). The native token of the project is PARO. PARO allows users to transfer NFTs between different wallets in the market. All transactions for the exchange of NFTs also use the PARO token. According to the developers, Parody Coin (PARO) will first be launched on one of the popular decentralized exchanges like PancakeSwap (CAKE). This will allow the token to be exchanged for other assets related to the Binance blockchain, which will happen through liquidity pools on…

Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock

Bitcoin is consolidating around $29,000 as the RSI indicator has now entered a period that has historically preceded outsized returns on investment for long-term investors. Rekt Capital shows that when the RSI has reached this level previously and reversed, including January 2015, December 2018, and March 2020, it has marked a macro bottom.

Furthermore, Glassnode shows that Bitcoin is approaching a region that is below the average cost basis of all holders on-chain. Previously, when Bitcoin enters this region it has presented four generational buying opportunities. Both of these indicators suggest that the crypto markets could be nearing a bottom for this bear-market we are in.

The established DeFi lending platform, Aave, has announced the launch of Lens Protocol, a decentralized…

Questbook, a Web3 grants platform has raised $8.3 million in its Series A funding round from Lemniscap.

The round also saw participation from Coinbase Ventures, Alameda Research, Dragonfly, Hashed, Polygon, Balaji Srinivasan, Raj Gokal (Solana), Arjun Sethi (Tribe Capital) and Maneesh Sharma (GitHub).

The US-based Questbook was founded in 2021 by Abhilash Inumella, Subhash Karri, Sriharsha Karamchati, and Madhavan Malolan.

It initially started as a learning/edtech platform, but later the co-founders decided to build an on-chain grant orchestration tool to empower…

Former executives at CoinFund and Aave have joined a venture capitalist firm seeking to expand its investments in Web3. 

Vanessa Grellet, who joined blockchain-focused investment firm CoinFund in May 2021, is now a managing partner at Aglaé Ventures. Grellet will continue her relationship with CoinFund as an adviser.

She joined Aglaé Ventures with Jordan Lazaro Gustave, who was a founding member of FlamingoDAO and previously served as chief operating officer of liquidity protocol Aave.

The venture capital firm, which has bases in Paris, New York and San Francisco, invests in asset-light…

Post the market-wide plummet, the altcoin market has been struggling to keep up with the rejection of higher prices. As a result, AAVE saw an anticipated bearish rising wedge breakout from its EMA ribbons.

Similarly, FTX Token and EOS broke out of their pennants to display a near-term bearish edge. To flip the existent fear sentiment, the bulls still needed to break the low volatility compression phase by injecting heightened buying volumes.

FTX Token (FTT)

The determined bearish efforts over the last 50 days have transpired into a rush of sell-offs. After a staggering 50.73% selling spree from its April highs, FTT took a solid plunge toward its nine-month low on 12 May.

With the $28-baseline offering some chances for the bulls to recoup, the bullish resurgence in a pennant halted at the two-month trendline support and turned into resistance. After an…