Cryptocurrencies Price Prediction: BNB, AAVE & Bitcoin — Asian Wrap 03 October

FXStreet Team FXStreet

BNB Price Forecast: BNB hits record-high as Binance CEX holdings, BNB Chain grows

BNB, previously known as Binance coin, holds a steady uptrend above $1,100 at the time of writing on Friday, entering the price discovery mode. The rally is on the back of Binance’s record-high holdings and the BNB Chain, previously known as Binance Smart Chain (BSC), network growth. Both the technical outlook and derivatives data suggest further gains if the momentum sustains.

AAVE Price Forecast: AAVE’s Total Value Locked reaches a new all-time high of $44.8 billion

Aave (AAVE) price trades in green, above $290 at the time of writing on Friday, after gaining nearly 6% so far this week. The bullish outlook is further strengthened as the Total Value Locked (TVL) reaches a record high of over $44 billion, indicating growing investor interest. From a technical view, momentum indicators suggest a bullish bias, indicating the continuation of the ongoing rally.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC and ETH eye record highs, XRP breaks above bullish pattern

Bitcoin price started the week on a positive note, extending its recovery by 1.92% on Monday and closing above the 50-day Exponential Moving Average (EMA) at $114,076. However, on Tuesday, BTC declined slightly but found support around the 50-day EMA, continuing its rally for the next two days and closing above $120,000. At the time of writing on Friday, it hovers at around $119,800. If BTC continues its upward momentum, it could extend the rally toward the all-time high of $124,474.

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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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