Aave Unlocks Native Bitcoin Collateral — Is AAVE the Sleeper DeFi Winner of December?

A major shakeup is unfolding in the DeFi world this December. Aave has introduced a groundbreaking feature that allows the use of native Bitcoin as collateral. This development could potentially make AAVE the unexpected top performer of the month. Dive into the article to uncover the coins poised for significant growth.

Aave on the Rise: Can It Break New Ground?

Source: tradingview 

Aave's price is dancing between $165 and $190. The current movement suggests some recovery, with a 4% uptick seen over the past week. Despite this, a longer view shows a slump of over 23% in the last six months. The coin has yet to overcome its $202 hurdle, which could signal a stronger rally if breached. If Aave clears this level, we might see it aim for the $227 mark, representing a potential rise of around 19%. On the downside, support at $153 acts as a safety net. While Aave has struggled recently, if it builds momentum, there is room for growth.

Conclusion

Aave has made a significant move by enabling the use of Bitcoin as collateral. This development sets Aave apart in the decentralized finance sector. Such innovation could attract more users and increase the platform's utility. With Bitcoin's strong market presence, Aave positions itself for potential growth. Given these factors, AAVE could emerge as a notable performer this month among DeFi tokens.

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.