Cryptocurrencies Price Prediction: Aave, Bitcoin & Meme coins — Asian Wrap 08 April

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AAVE price climbs as founder talks of “fee switch” to redistribute fees to stakers and holders

Aave (AAVE), a DeFi protocol that earns $50 million in profits every year, is considering the redistribution of fees among the token’s stakers and holders. The founder Marc Zeller said that the platform’s Decentralized Autonomous Organization (DAO) earns enough profits to cover operational expenses for the next five years.

Bitcoin halving is less than two weeks away, traders likely to buy the rumor sell the news

Bitcoin has been range bound since its year-to-date peak of $73,777 on March 14. The largest asset by market capitalization is less than two weeks away from its block reward halving and analysts at Steno Research say a “buy the rumor, sell the news” scenario is likely.

Base hits nearly $1.3 billion in total value locked, meme coins rally

Base chain, Coinbase’s Layer 2 chain hit two key milestones on Sunday, April 7. The chain surpassed the Ethereum Layer 1 in terms of transactions per second and hit a new milestone in total value of cryptocurrencies locked on Base.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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