Due Diligence

As part of my attempt at aping into projects, I’ve stumbled upon a good candidate: Aave. Let’s take a look at its fundamentals. Mid term price action First, Aave token was launched in 2017 actually in an ICO. Its price stagnated for a long time before breaking through to $34 on 19th Oct 2020 (what happened there?). Subsequently, like many other alts, it rose to prominence during Defi Summer and beyond. In May crash this year, it dropped from a height of $600 to $192, and has made steady recoveries since then. ...

Main guiding thought: should I long or short ETH? 1. How is it looking on Trading view? -upward momentum- Suggests upward trend, at least in the short term. 2. Volume. Historically, the best time to buy is when volumes are trending way above price. Right now, the volumes are looking pretty thin. 3. Social Volume Historically, social volume is a topping indicator. Right now, we’re at the height almost of social volume. Which means, it’s not a good idea to buy. ...