Bitcoin (BTC) price is showing strength again amid waning selling pressure from Grayscale Bitcoin Trust (GBTC) redemptions. The sentiment is yet to be reflected among altcoins, however, as Ethereum (ETH) and Ripple (XRP) prices still struggle amid a choppy altcoin market.
Crypto research firm Chainalysis recently concluded research on “pump and dump” schemes that have plagued the crypto ecosystem. Pump and dumps have made a resurgence with rug pulls on Coinbase’s Base chain and Solana ecosystem’s meme coins.
The report reveals that nearly 53.6% of ERC-20 tokens on DEXes have characteristics of possible “pump and dump” schemes, according to the firm’s criteria.
AAVE price declined in the past week and a further correction is likely, according to on-chain metrics. Two key metrics, the supply of AAVE on exchange wallets and the Network Realized Profit/Loss metric paints a bearish picture for the DeFi token.
AAVE price is $84.46, at the time of writing.
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