Key Insights:
- AAVE shows a familiar chart pattern, suggesting a potential rally toward the $125 price level.
- Aave becomes the first DeFi protocol approved to issue euro stablecoins across all EEA countries.
- New Push service offers instant, zero-fee euro-to-stablecoin conversions for users across Europe.
AAVE may be on track to revisit the $125 price level after forming a chart pattern similar to a past rally. Traders are watching closely as the asset shows signs of repeating a previous upward trend. The latest move comes as Aave secured regulatory approval for its euro stablecoin services across the European Economic Area (EEA).
Growing Activity Possible Move Toward $125
Technical analysts point to a recurring chart setup that previously led to a sharp increase in AAVE’s price. They believe the same pattern is forming again and could push the price toward $125.While some traders see this pattern as reliable, others urge caution.
If the pattern holds, AAVE could be headed straight for $125, but also doubts about whether conditions will repeat exactly. AAVE is currently priced at $179.16 with a 24-hour trading volume of $353 million. The price moved only slightly in the past 24 hours, down by 0.03%. Despite this, many traders are focusing on the chart pattern forming and past performance.
Aave Gains MiCA Approval Across All EEA States
Aave has received full regulatory approval to operate euro-denominated stablecoins in the EEA. This approval was granted under the Markets in Crypto-Assets (MiCA) regulation by Ireland’s Central Bank. Aave’s registered entity, Push Virtual Assets Ireland Limited, now holds the license needed to operate legally in all 27 EEA countries.
This approval makes Aave the first decentralized finance (DeFi) protocol authorized to offer euro-based stablecoins across Europe. The European Central Bank has previously expressed concern over the dominance of dollar-based stablecoins. With this development, the region now has a regulated euro-denominated alternative.
Zero-Fee Fiat On-Ramp Launched with ‘Push’ Service
Alongside the approval, Aave launched a new feature called Push. It allows users to convert euros into stablecoins without paying conversion fees. Most centralized exchanges charge 1% to 3% on such transactions, but Aave’s model avoids this cost.
This service may attract both retail users and institutions looking for faster, cost-effective access to digital assets. Push also offers immediate conversions, which reduces wait times and increases user flexibility in managing funds.
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Source: https://coincu.com/analysis/aave-price-looks-set-to-surge-toward-125/