Aave’s launch of the GHO token has captured attention across the decentralized finance space, as it secures $31.2M.
launch of the GHO token has captured attention across the decentralized finance space, as it secures $31.2 million and becomes the second-largest asset on Chainlink CCIP.
The RSI is neutral at 49.29, not signaling overbought or oversold conditions. Therefore, while AAVE shows potential for a breakout, the price may retrace before any significant rally.Interestingly, AAVE’s transaction count has seen a slight uptick, growing by 0.84% to 1.662K transactions over the past 24 hours. This rise indicates that despite the minor price decline, activity on the network is holding steady.
As a result, this trend may counteract any potential price rally. If reserves continue to rise, the risk of increased selling pressure could dampen any immediate bullish breakout.Looking at liquidation data, a notable $1.27M in short positions have been liquidated compared to $146.08K in long positions. This imbalance shows that sellers currently hold more control in the market.
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