NewsletterWill AAVE Price Pump or Dump as Trump’s DeFi Project Goes Live?
Highlights
- Aave price is up 11% for the week and still eyes 32% gains in the coming days.
- Today is the launch day for Donald Trump's World Liberty Financial DeFi project.
- 93% of AAVE supply is already in the market, almost ending inflation.
Aave price remains strong ahead of the launch of Trump’s DeFi project, as Donald Trump survived his second assassination attempt in two months at his Florida golf club. The FBI confirmed that Trump is unharmed and quickly apprehended the suspect.
While Trump’s World Liberty Financial (WLFI) DeFi project launched today, Aave has stolen the spotlight with an 11% gain over the past week, outperforming most of the crypto market. Over 90 days, Aave price leads the market with a 66% increase, fueled by speculation that WLFI may run on Aave’s protocol. With 93% of Aave’s supply in circulation, analysts predict further price gains. Currently, AAVE trades at $140.67 after a slight 3% retracement.
Aave Price Retraces as WLFI Launch Follows Trump Assassination Attempt
Donald Trump survived an alleged assassination attempt at his Florida golf club, marking the second such incident in two months. The FBI confirmed that Trump remains unharmed, and authorities quickly apprehended the suspect after he fled the scene. Authorities recovered an AK-47-style rifle, indicating the act was premeditated.
Meanwhile, today marks the highly anticipated launch of Donald Trump’s World Liberty Financial (WLFI) DeFi project, as announced in last week’s official statement.
.@WorldLibertyFi pic.twitter.com/rHEGQXl4jL
— Donald J. Trump (@realDonaldTrump) September 12, 2024
According to video announcement on his X account, Trump is “embracing the future with crypto and leaving the slow and outmoded large banks behind” with the launch of this new crypto project. World Liberty Financial has been in development for several months now and is being led by Trump’s sons, Eric and Donald Jr. Trump.
Aave price surged when speculation emerge that the WLFI would run on the Aave protocol atop the Ethereum mainnet. Additionally, 93% of Aave supply is in circulation, which means inflation will end soon, leading to a mega pump in price as demand continues to soar for the DeFi platform.
The price of AAVE is trading at $140.67 today after slightly retracing 3% over the last 24 hours.
AAVE Technical Analysis: Why The Pump Is Not Over
Aave price action is one of the few bullish charts in the crypto market currently. It displays a strong uptrend that began in mid-2023, marked by a series of higher lows and higher highs. The price has broken above key resistance levels, confirming bullish momentum.
The price of AAVE may encounter resistance at $186, which marks the next significant barrier. The chart suggests this level is the next major target for the bulls, indicated by the measured move projection from the breakout point. It constitutes a 32% upside surge from the current price.
If Aave can hold above $186, it would open the doors for a much larger upside move, potentially targeting the $200–$220 range in a 55% upswing.
Aave price has support around $130-$135, which was previously a resistance, making it a crucial base for further upward movement. If market conditions change and the price drops below $138, the next lower support is at $100 and $80 if it goes below that. This would invalidate the current bullish thesis, as AAVE would drop back into consolidation.
Frequently Asked Questions (FAQs)
1. How has AAVE price performed leading up to the launch of Trump's WLFI project?
2. Could AAVE price increase further after WLFI’s launch?
3. Is the assassination attempt on Trump affecting AAVE price?
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