Cryptocurrency News TheBitTimes.com

AAVE price may have been impacted by this week’s Curve Finance scandal, but a robust insurance fund and steady fee revenue could protect against further downside. AAVE, the governance token of the decentralized finance (DeFi) protocol Aave, experienced a 17% decline between July 30 and August 1, reaching the $62 level.  While the $62 support has demonstrated its resilience, the current price of $64.40 is still 12% below the daily close on July 30. Investors are now questioning whether this movement signifies a more cautious approach to the sector or if other factors are exerting pressure on the AAVE token price . AAVE price index, 12-hour chart. Source: TradingView Part of the recent movement in the AAVE token can be attributed to the risks of cascading liquidations on DeFi protocols, resulting from the Curve Finance pool exploit that commenced on July 30. However, Aave's decentralized liquidity protocol has successfully survived previous identical scenarios and the protocol has ...

Cointelegraph Accelerator, Animoca Brands, Cipholio and Brinc will host a Demo Day to introduce seven promising Web3 projects to investors. As numerous Web3 events have reiterated since early 2022, bear markets are ideal times for building. Triggered by the Terra ecosystem crash in May 2022 and aptly named as “crypto winter” following the FTX collapse in November, the current bear market saw the crypto market cap shrinking from $3 trillion to below $1 trillion. While the year-long bear market tore off a good chunk of the market cap, it also presented an opportunity for new ideas to flourish as the industry’s focus shifted from price volatility to innovation . Unfazed by the market conditions, the Web3 ecosystem has continued to build around fresh concepts to prevent the same crashes from happening again and also to find new ways for users to interact with decentralized digital realities. Monthly active developer count since Bitcoin was launched compared to when Ethereum and its smart ...

Jaime Leverton has led digital asset mining player Hut 8 over the past two years, wading through the waters of the bull market of 2021 and the bear market of 2022. In January 2023, during the World Economic Forum’s (WEF) annual conference in Davos, Switzerland, Jaime Leverton, CEO of Hut 8, a crypto mining entity that trades as a public company, sat down with me for a fireside chat at the Crypto Summit on the Promenade. Leverton outlined some of her views on the recent shakeout in the cryptocurrency market and reflected on how Bitcoin (BTC) mining fares during the current turbulent period for the industry. Throughout 2021 and 2022, the crypto industry experienced significant growth, followed by bear market struggles, bankruptcies and job cuts. Leverton took on the position of leading Hut 8 Mining as CEO a little over two years ago and experienced those ups and downs from the front line. Jaime Leverton CEO of Hut 8 (left) and Kristina Lucrezia Cornèr (right) during Crypto Summit 2023 i...