Cryptocurrencies Price Prediction: Ethereum Classic, Aave & Dogecoin — Asian Wrap 03 November

FXStreet Team FXStreet

Ethereum Classic price takes a 6% hit as the Fed hikes interest rates by 75 bps

Ethereum Classic price suffered the blow of the Federal Reserve’s decision to increase the interest rates by 0.75% point in order to reduce inflation. While Bitcoin and other top cryptocurrencies did not display much volatility, most of the altcoins noted price drops resulting in a 2.6% decline in the total crypto market capitalization.

Will AAVE price overcome this resistance following V3’s deployment on the zkSync 2.0?

As the biggest lending protocol in the Decentralized Finance (DeFi) space, Aave holds a significant influence over the DeFi user base. With over $5.4 billion locked across all its versions, Aave’s expansion will be highly beneficial to its further growth.

Dogecoin price pumps as high-cap investors consider taking profit

Dogecoin price pulled off a jaw-dropping rally during the final days of October. The majority of the technical indicators suggest DOGE will continue to rise. Key levels have been defined to determine the notorious meme coin's next targets.

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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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