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Popular cryptocurrency channel Altcoin Daily shared in its latest video that deep pocketed crypto investors are attacking two cryptocurrencies – Bitcoin and Aave.

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Altcoin Daily: Whales buy Bitcoin

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“Wealthy investors are returning to the Bitcoin market,” the crypto analyst said in a newly shared video, saying that the number of coins held by whales increased by more than 80,000 on Friday last week, reaching its highest level since May with 4,216 million BTC. “The number of whales also jumped to 1,922, a three-week high,” the analyst says. The channel believes that the re-accumulation of whales is good news for the cryptocurrency market. Because he points out that these wealthy investors play an important role in raising Bitcoin from $10,000 to around $60,000 in five months.

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Altcoin Daily, “The price action pointed to the failure of smaller investors to increase their influence in the market and the potential for a remarkable price correction.” In addition, the channel thinks the recent increase in whales’ balances indicates that the bottom has been reached.

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“Big investors target AAVE”

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Another targeted cryptocurrency this month, according to the analyst, is Aave (AAVE). Cryptocoin. com, in response to the “heavy demand from various institutions”, the authorized distribution of Aave will be released this month. The platform will be launched in partnership with the crypto custody service and service provider Fireblocks. According to Altcoin Daily, at launch, Aave Pro will only support four assets, Bitcoin (BTC), Ether (ETH), Aave and USD Coin (USDC), with their pools separated from Aave’s other distributions.

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The platform will add a whitelisting layer to v2 smart contracts to ensure that only institutions, companies, companies, and fintech platforms that have passed Fireblocks’ Know Your Customer (KYC) verification can access Aave Pro. Fireblocks will also be tasked with implementing Anti-Money Laundering and anti-fraud controls for Aave Pro. The channel said, “Aave Pro is not Fireblocks’ first step towards helping institutional capital access DeFi. It also teamed up with Compound in early 2020 to launch a series of services for institutional investors.”

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Disclaimer: Cryptocoin. The articles and articles on com do not constitute investment advice. Cryptocoin. com does not recommend buying or selling any cryptocurrencies or digital assets or Cryptocoins. com is not an investment advisor. Hence Cryptocoin. com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

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