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The Aave Improvement Proposal (AIP) 44 was approved after a community voting today, reported Wu Blockchain. The AIP-44 will patch the vulnerability discovered in the defi protocol a week ago. The vulnerability could have been exploited with xSUSHI as collateral, but with the AIP-44 approval borrowing for xSUSHI and  DeFi Pulse Index (DPI) will be deactivated.

Aave’s AIP-44 community proposal has been passed, Justin Sun may choose to re-deposit assets.
— Wu Blockchain (@WuBlockchain) November 2, 2021

The proposal was expected to pass given it received 575,000 votes in favor while only a single vote against it.


1/7 Today @gauntletnetwork submitted an AIP proposing to disable the borrow function for $xSUSHI and $DPI on V2 of the Aave Protocol as a precautionary measure. The AIP also will disable borrowing of AMM LP tokens on the Aave Protocol AMM Market as an extra safeguard. A thread
— Aave (@AaveAave) October 29, 2021

Earlier, Aave claimed that the vulnerability found in the XSushi collateral was not exploitable, however, Yearn finance engineer Banteg revealed that the vulnerability was available for 160 days. Now that the improvement proposal is approved, the vulnerability can finally be patched.
All Eyes on Justin Sun’s $4.5 Billion
Justin Sun, the founder of Tron made headlines a couple of days back as Aaave introduced the AIP-44 proposal after finding the vulnerability. Sun withdrew $4.5 billion worth of assets from the Aave protocol. Many believed the movement of funds was based on a recent exploit on Cream Finance that lead to a loss of millions of dollars worth of assets. Along with Sun, several other investors also pulled out of the Aave protocol as its total value locked fell by 20%.
All eyes are now set on Sun and whether he would redeposit all the assets back, now that the vulnerability has been patched or choose otherwise. The current TVL of AAVE is at $13.83 billion, falling from the monthly high of over $20 billion.
Source: Defilama
The price of AAVE continues to trade above $300 as the recent vulnerability and movement of funds away from the protocol didn’t really impact its price. The defi protocol hit an ATH of $666 in May this year. The rising number of Defi exploits conitnue to put a dent in Defi ecosystem’s growing popularity, as there is some form of hack or scam on one protocol or the other. The most recent ones being Cream Finance and BXH.
The post Aave’s AIP-44 Community Proposal Gets Approved, Will Justin Sun Redeposit $4.2 Billion? appeared first on Coingape.


The Aave Improvement Proposal (AIP) 44 was approved after a community voting today, reported Wu Blockchain. The AIP-44 will patch the vulnerability discovered in the defi protocol a week ago. The vulnerability could have been exploited with xSUSHI as collateral, but with the AIP-44 approval borro...

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Aave’s AIP-44 Community Proposal Gets Approved, Will Justin Sun Redeposit $4.2 Billion?

Justin Sun, Tron founder recently withdrew $4.2 billion from Aave lending pools, affecting the liquidity of the Defi lending network, further causing a spike in interest rates. According to market speculations, the sudden and expensive liquidation is the result of the ongoing debate on Twitter between the Yearn and Aave community, regarding Aave being vulnerable to a potential exploit.
Yesterday, Yearn founder, Andre Cronje took to Twitter to highlight that the Aave protocol “is vulnerable to the same exploit” that CREAM finance suffered earlier this week. The Defi network, Cream Finance suffered $130 million worth of a flash loan attack, and the community is now at war with Aave for scrutinizing the protocol’s security by speculating a potential exploit.

Aave core after 24 hour defamation marathon on yearn for cream being exploited, while Aave is vulnerable to the same exploit. How is that disclosure of funds at risk going for your users? 2nd full protocol exploit. Tell me again how much better your security is. https://t.co/OahM8BJS9w
— Andre Cronje  (@AndreCronjeTech) October 29, 2021

AIP 44
In lieu of the raging exploit speculation Aave is set to temporarily suspend borrowing on xSushi and Defi Pulse Index (DPI), along with freezing deposits, borrows, and rate swaps for UNI/BAL AMM Markets after a proposal by the community members, appealing the protocol to take the mentioned precautionary measures. With nearly 590,000 votes for the proposal and only 1 against, Aave Improvement Proposal (AIP) 44 is gravitating completely towards getting passed. However, voting doesn’t close until tomorrow, and given the decentralized twists, anything can happen.
Flash Loans in the NFT market
The flash loans concern is not limited to Defi’s lending protocols. Yesterday, the Non-Fungible Token (NFT) market was hit with a flash loan hack aimed at raising the floor price of the token. The white-haired, green-eyed pixelated character known as the CryptoPunk 9998, which was bought for $532 Million from a loan that the attacker borrowed, was sent to the bidder’s wallet but with a hiked floor price, according to the Ethereum blockchain. In a more traditional market, this process would be referred to as, wash trading, which is also under regulators’ oversight for being a crypto tax loophole.
Larva Labs, the CryptoPunks founder, revealed on Twitter that this process is called, “flash loans”. “In a nutshell, someone bought this punk from themself with borrowed money and repaid the loan in the same transaction.”
The post Tron founder withdraws over $4 billion from Aave protocol amid exploit speculations appeared first on Coingape.


Justin Sun, Tron founder recently withdrew $4.2 billion from Aave lending pools, affecting the liquidity of the Defi lending network, further causing a spike in interest rates. According to market speculations, the sudden and expensive liquidation is the result of the ongoing debate on Twitter be...

Tron founder withdraws over $4 billion from Aave protocol amid exploit speculations

eToro, the mobile trading service is looking to expand its crypto offering and now it is tapping into one of the most popular crypto use cases defi. The platform announced a new Defi portfolio with 11 digital assets including Ether, Uniswap, Chainlink, Aave, Compound, Yearn.Finance, Decentraland, Polygon, algorand, basic attention token, and maker.
Source: eToro
Dani Brinker, head of portfolio investments at eToro comments,
“DeFi is one of the most talked-about innovations in finance, with thousands of new crypto assets emerging in recent months. But for people who don’t have the time to research every asset’s whitepaper, the market may seem like a minefield. By packaging up a selection of crypto assets in a DeFi CopyPortfolio, we’re doing the heavy lifting and enabling our customers to gain exposure and spread the risk across a variety of cryptos.”
Out of the total 11 Defi assets, one-third of the assets are based on Ethereum blockchain while 11.67% are based on Algorand while the remaining 9 assets weightage is in the 4%-8% range.
Defi Market Continues to Surge Despite Looming Regulatory Crisis
Defi market is considered one of the biggest success stories to come out of the crypto market and its valuation grew from just a few million dollars to over $100 billion in 2021. With rising crypto adoption this bull season, the Defi market has also seen a peak in interest from the Wall Street giants including JP Morgan and Goldman Sachs who see the crypto ecosystem grew to become the banking system of the future.
However, as things seemed going great for the defi market, the US regulatory environment could brew trouble for the popular ecosystem. The recently passed Infrastructure bill and the comments made by the US Securities and Exchange Commission head Gary Gensler regarding Defi indicates the SEC is looking for a regulatory crackdown on the defi market. Recently, SEC also onboarded a blockchain analytic firm to help it with the regulatory oversight.
The post eToro Sets Eyes on Defi Market, Launches 11 Defi Assets Based Investment Portfolio appeared first on Coingape.


eToro, the mobile trading service is looking to expand its crypto offering and now it is tapping into one of the most popular crypto use cases defi. The platform announced a new Defi portfolio with 11 digital assets including Ether, Uniswap, Chainlink, Aave, Compound, Yearn.Finance, Decentraland,...

eToro Sets Eyes on Defi Market, Launches 11 Defi Assets Based Investment Portfolio

  
Bitcoin (BTC), Ethereum (ETH), and Aave (AAVE) are trading inside descending parallel channels.



XRP (XRP) is trading above the $1.05 horizontal support area.



Monero (XMR) has broken down from an ascending support line.



Cosmos (ATOM) reached a new all-time high price on Sept 13.



ICON (ICX) is attempting to break out from the $1.92 resistance area.



BTC



BTC has been trading inside a descending parallel channel since Sept 7. Such channels often contain corrective structures. 



Furthermore, both the RSI and MACD have generated bullish divergences, a sign that a breakout is likely.



If one occurs, the closest resistance levels would be found at $47,850 and $49,050. These are the 0.5 and 0.618 Fib retracement resistance levels respectively.



BTC Chart By TradingView



ETH



Similar to BTC, ETH has also been trading inside a descending parallel channel since Sept 7.



On Sept 13, it bounced at the support line of the channel and has been moving upwards since.



The movement may be forming an irregular flat corrective structure.



If true, ETH could increase all the way to $3,634 — the 0.618 Fib retracement resistance level (white). This would also give waves A:C a 1:1.61 ratio.



ETH Chart By TradingView



XRP



XRP has been decreasing since Sept 6 after it reached a high of $1.42. It’s currently trading just above the $1.05 horizontal support area.



Despite still being above support, technical indicators are bearish. The MACD and RSI are both decreasing and the latter is below 50.



Therefore, XRP may drop after a short-term bounce.



XRP Chart By TradingView



XMR



XMR had been following an ascending support line beginning on July 20. This led XMR to reach a high of $339.70 on Aug 24.



However, its price has been decreasing since. On Sept 7, it broke down from the support line and proceeded to reach a low of $232. The low was made right at the 0.618 Fib retracement support level.



After generating a bullish divergence, it began an upward move that is still ongoing. However, despite the rebound, XMR has to reclaim the $282 horizontal level for the short-term trend to be considered bullish.



XMR Chart By TradingView



AAVE



AAVE has been decreasing inside a descending parallel channel since reaching a high of $443 on Aug 17.



On Sept 13, it reached a confluence of support levels (green circle), created by the:



Support line of the channel$310 horizontal support areaAn ascending support line (dashed)



In addition to being at a strong support area, the RSI has generated a bullish divergence and the MACD is moving upwards. Since descending parallel channels usually contain corrective structures, an eventual breakout is expected.



AAVE Chart By TradingView



ATOM



ATOM has been increasing alongside a parabolic ascending support line since June 22.



On Sept 10, it broke out above the $26.80 resistance area and proceeded to reach a new all-time high of $38.95 three days later.



Technical indicators do not yet show any weakness and both the RSI and MACD are increasing.



It seems that ATOM is in wave five of a bullish impulse, with a potential target for the top of the move between $45.34 and $47.22. The target range is found using the 1.61 external Fib retracement level (black) and the 1.61 length of waves 1-3 (orange).



ATOM Chart By TradingView



ICX



ICX has been increasing since July 20. On Sept 10, it attempted to break out above the $1.92 resistance area but was rejected and created a long upper wick.



However, it’s currently making another breakout attempt.



Both the MACD and RSI are increasing, supporting the possibility that ICX will move above this resistance area. If it does, the next resistance level would be found at $2.70.



ICX Chart By TradingView



For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
  The post BTC, ETH, XRP, XMR, AAVE, ATOM, ICX — Technical Analysis Sept 14 appeared first on BeInCrypto.


BTC is trading inside a descending parallel channel. Both the MACD and RSI have generated bullish divergences. A breakout is likely.
The post BTC, ETH, XRP, XMR, AAVE, ATOM, ICX — Technical Analysis Sept 14 appeared first on BeInCrypto.


Aave price	$255.52
Low - High 24H	$234.48 - $257.93
Market cap	$3.43B
Volume 24H	$178.03M
All time high	$661.69 -61.27% May 18th 2021
All time low	$26.02 884.87% November 5th 2020
Genesis date	N/A

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