FTM, AAVE, TAO See Double-Digit Gains As Bitcoin Retests $57k
Fantom (FTM), Bittensor (TAO) and Aave (AAVE) are among the big gainers in the last 24 hours. As of 4:00 PM on September 9th, altcoins are seeing bullish action in the top 100 coins. Meanwhile, Bitcoin (BTC) rose above $57,000 after revisiting sub-$54k over the weekend.
FTM, AAVE, and TAO tokens are all in double digits, with Bittensor's value increasing by over 16% to over $286 to change hands. Meanwhile, Fantom's price was trading above $0.46, up nearly 14% at the time of writing, and Aave's price hovered around $142 with the DeFi token's price up more than 13% in the past 24 hours.
Bitcoin price rises above $57k.
Bitcoin's gain above $57,000 follows Monday's upward move after BTC dropped below $54k over the weekend. While the major cryptocurrency remains in high spirits with fear and greed index, analysts are bullish on long-term prospects.
As mentioned earlier, Bernstein analysts view the US election as a key issue in the short term. A win for Donald Trump could mean a price explosion of more than 80 thousand dollars.
On the flip side, a Kamala Harris win could lower the downward spiral to $30k.
FTM, TAO and AAVE tokens are on the rise.
The Bittensor token rose as Grayscale launched an AI token fund, allowing exposure to top artificial intelligence tokens such as Render (RNDR), Filecoin (FIL) and Near (NEAR). Despite the recent surge amid a broader market rally, TAO appears to have kicked into high gear as fresh network developments show TAO's representation and representation.
Meanwhile, FTM is on the rise as the community encourages developments around Sonic Labs. Sonic testnet achieves key milestones, Phantom founder Andre Cronje believes the Sonic blockchain network can tap into the $11 trillion unsecured lending industry.
In contrast, AAVE's price has popped up since the release of the limited Ether.fi (ETHFI) market on Aave. The deployment allows users to borrow against their liquid tokens including USDC, PYUSD and FRAX.
Aave DAO has now deployed a dedicated @ether_fi market on Aave.
Users can now borrow stablecoins like $USDC, $pyUSD and $FRAX on their @ether_fi weETH liquid tokens. pic.twitter.com/s3Met9veuU
— Aave Labs (@aave) September 9, 2024
WeETH is among the liquid reset tokens that enable DeFi strategies such as leveraged ETH staking. Aave already has such a unique market on top Ethereum staking platform Lido.
