Cryptocurrencies Price Prediction: AAVE, Bitcoin & Dogecoin – European Wrap 2 February
AAVE price at risk of correction as exchange supply rises, whales shed AAVE holdings
AAVE price declined in the past week and a further correction is likely, according to on-chain metrics. Two key metrics, the supply of AAVE on exchange wallets and the Network Realized Profit/Loss metric paints a bearish picture for the DeFi token.
Bitcoin price recovers as on-chain metrics point at potential BTC rally
Bitcoin (BTC) price tested resistance at $43,000 on Friday, recovering from declines earlier this week, in a sign of increasing buying pressure after a choppy week. Some of the asset’s on-chain metrics support the thesis of further price gains ahead, although Bitcoin price has been moving broadly sideways for the last two months.
Dogecoin price sees minor gains despite uptick in network demand
Dogecoin (DOGE) price has registered a minor gain of 2% in the last week despite the growth in user activity on its network during the same period. The number of both new addresses and active addresses in transactions involving the meme coin has rallied, but its price continues to endure poor bullish sentiment.
Author
FXStreet Team
FXStreet
