Altcoin News by Thebittimes.Com

The DeFi market has been in its recovery mode over the past few days. The cumulative market capitalization of all tokens from the space has risen by ~20%—from mid-October’s wick low of $37.8 billion to $45.05 billion. Source: TradingView Resultantly, tokens from the space—like Aave—have been pulling up their socks. At the beginning of the week, Ethereum whales were eying this token. Per WhaleStats, Aave was a part of the top 10 purchased tokens among the 500 biggest ETH whales on Monday. The effect of the same was reflected in the rise in the aggregate exchange outflows. According to data from ITB, the outflow volume stood at 8.23k tokens on October 30. However, at press time, the reading of the same metric was already up to 13.06k, bringing to light the gradually forming buying interest. Alongside, it is interesting to note that Aave is currently seeing its highest network growth since mid-July. As illustrated below, over 495 new addresses have been created on the netw...

Dogecoin lost its relevance in the market over the past few weeks, but it started gaining traction recently. Consequentially, it managed to secure the third-highest social engagement last week. The same trend is occurring, and DOGE was yet again trending on platforms like Twitter at press time. Source: Twitter On the price front, the largest meme coin was one of the loftiest gainers on Wednesday. Standing at #2, DOGE noted an inclination of 20.58%. In comparison with #1 KLAY, Dogecoin was lagging by a mere 0.21%. Source: CMC On the charts, the asset was trading at levels seen 10 weeks ago in August. It had already surpassed the 50 MA and 100 MA [red, blue] on the daily. However, it was trading slightly below its 200 MA [green], even though it had broken above the same rate earlier during the day. Given such a massive spike in such a short span of time, a retracement can be expected. In fact, the overbought reading of the RSI supported the said narrative. Source: Tradin...