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Aave price hits two-month high on Wall Street’s DeFi adoption hopes

Published 08/05/2021, 07:15 AM
Updated 08/05/2021, 09:00 AM
Aave price hits two-month high on Wall Street’s DeFi adoption hopes

Demand for Aave has boomed dramatically in the previous 24 hours as traders assessed its involvement in Bitwise Investment’s upcoming institutionally focused investment vehicle.

The San Francisco-based asset management firm announced Wednesday that it would invest directly in Aave to back its “Bitwise Aave Fund,” a fund created to build a bridge between accredited investors and the emerging decentralized finance (DeFi) sector.

Aave eyes a clear bullish breakout above the triangle range. Source: TradingView
Aave TVL in the past 12 months. Source: DappRadar
Aave price (white) vs VORTECS™ Score (green) chart. Source: Cointelegraph Markets Pro

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