2024-5-24 16:35 |
Synthetix (SNX) and Aave (AAVE) are both flat on the day, but green in the past week. SNX is 7% up while AAVE is holding onto double-digit gains as the latest news around Ethereum spot ETFs drives interest in related altcoins.
With the US Security and Exchange Commission (SEC) having approved the first spot Ethereum ETFs for the US market, analysts expect momentum could push SNX and AAVE higher.
Bitbot (BITBOT), a new project that just hit $3.7 million in presale, could be one of those to watch as investors take position with potential gems.
Synthetix Network sees market growthThe bullish outlook around Synthetix has strengthened amid key developments over the past few months.
Synthetix Network recently unveiled the decentralised perpetual trading platform dubbed Infinex to boost its DeFi traction.
The platform is also rolling out its V3 upgrade amid push for further scalability and decentralisation. The Synthetix Perps volume has also surged, recently hitting $500 million in daily volume.
Meanwhile, the rollout of Perps trading fee rebates on L2 platform Base is attracting trader attention.
SNX price could benefit from these activities as well as the overall enthusiasm amid the ETH spot ETF anticipation. Currently, Synthetix price is at $2.94 but is likely to explode as market conditions help solidify bull market forecasts.
Aave TVL rises as to above $13 billionAave’s total value locked (TVL) has grown in recent weeks to suggest rising activity and interest. Data from DeFiLlama shows AAVE currently has a TVL of $13.1 billion, up from just over $10.5 billion on May 17.
That’s an increase of over $2.5 billion this past week as the price rose alongside ETH and BTC.
As the market anticipates a price bounce for Ethereum after today’s dip, tokens to watch include Lido DAO, Uniswap and Optimism. Crypto analysts also see crypto lending protocol Aave (AAVE) as one of those likely to rally should ETH begin to pump.
At the price of $97.80, Aave is just flat on the day. However, its 11% up this past week as bulls eye a potential breakout above $100.
Bitbot reaches $3.7 million in presale as launch nearsOne crypto market sector that’s seeing huge adoption amid the current bull market phase is the Telegram trading bots ecosystem.
This relatively new market has seen over $22 billion in trading volume. Per the latest on-chain data, Maestro, Bonkbot and Banana Gun lead the top bots by volume.
Bitbot could race to the top of the leaderboard when it launches its trading bot following the conclusion of its presale.
While it harnesses the power of artificial intelligence (AI) and offers top institutional-grade tools like these other bots, there’s a distinction that sets Bitbot apart as a premier solution.
This notable game-changing feature is that Bitbot is the first non-custodial trading bot on Telegram.
With this architecture, Bitbot stands out as the trading app that prioritises user security. Giving users complete control of their wallets means protection against some of the security incidents that have previously impacted users of Banana Gun, Unibot and Maestro.
Is Bitbot a good buy today?Bitbot has recently released its product update, highlighting how its Bespoke Wallet Management feature works.
Early interest has seen over $3.7 million raised so far as stage 14 of the presale flies by. This means buying BITBOT at the current price of $0.0189 could be an opportunity before the final stage rolls in at $0.02.
The top bots delivered huge gains after their launch and Bitbot’s upcoming release could catalyse an explosive run in the market.
Learn more about Bitbot here.
The post Synthetix, Aave and Bitbot price outlook after SEC approves spot Ether ETFs appeared first on Invezz
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