“The Native Token of the Largest Defi Lending Protocol is Showing Strong Momentum Despite Short-Term Profit Taking Above $ 290.”, – WRITE: www.coindesk.com
The Token Gaished Another 2% Over The Past 24 Hours and Is Up 6% This Week. IT HAS ESTABLISHED SUPPORT at the $ 284- $ 285 Levels, While It’s Currently Consolidating AROUND $ 290.
The Move Occurred As The Broader Crypto Market Rallied, With Gains Across The Board and Bitcoin BTC$ 122.178.42 Breaking Above $ 122,000, Inching Closer to Its August Record High. The Broader Defi Market Also Accelerated, Hitting A $ 219 Billion in Assets Across Protocols, A Fresh Record Level, Defillama Data Shows.
Total Value Locked Across Defi Protocols at Record Highs. (Defillama)
Deposits on Aave Also Climbed to A Record $ 74 Billion, Cementing Itp Position Among Defi Protocols, Per Defillama Data. The platform enjoyed fresh inflows due to a recent partnership with up-and-coming stablecoin-focused chain Plasma. The Plasma Lending Market on Aave Swelled Above $ 6 Billion in Less than a week.
Technical Analysis Shows Strong MomentumTechnical Indicators Point to Upside Potential Despite Short-Tertm Profit-Taking Pressure at Current Levels, The Coindesk Data Research Model Shows. However, Resistance Levels Hold Firm Between $ 290- $ 294 Following Repeated Rejects.
- Price Gains 2.33% in 24-HOUR SESSION.
- Trading Range Spans $ 15.17 Between $ 279.16 and $ 294.33 Extremes.
- Volume Spikes to 143,188 Units, Well Above 37,000 AVERAGE.
- Support Level ConfirMed AT $ 284- $ 285.
- Resistance Zone Establized Between $ 290- $ 294.
- Intrady High Reaches $ 290.37 Before Reversal.
- Consolidation Pattern Develops at Current Levels.
Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Gate Exchange Emerged As Major Player With 98.9% Volume Surge to $ 746 Billion, Overtaking Bitget to Become Fourth-Largest Platform
- Open Interest Across Centralized Derivatives Exchanges Rose 4.92% to $ 187 Billion
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Chainlink Will Provide Oracle, Cross-Chain and Data Services to the Plasma Network to Support Stablecoin Use Cases.
- Chainlink’s Native Token (Link) SAW A 6.7% INCREASE This Week Despite Friday’s PullBack, Bolstered By Institute and Protocol Adoption.
- Plasma have integrated Chainlink’s Services to Support Stablecoin Payments on Its Blockchain.
- Swiss Bank UBS is Piloting Chainlink’s Ccip Protocol with Swift for Tokenized Fund Operations, Signaling Growing Institutional Interest.
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