DeFi veteran Arthur Cheong believes that big-money investors are piling into Aave, a well-established DeFi lending platform.
Cheong, who has a large following on social media, noticed that millionaire wallets are buying up AAVE tokens. This is happening at the same time that the amount of AAVE available on crypto exchanges is dropping.
Cheong sees this as a sign that Aave is poised for growth.
He points to recent events in the DeFi world, like BitGo’s decision to change its Wrapped Bitcoin (WBTC) business, as a catalyst for more players to enter the DeFi space. This move has prompted other big players, like Coinbase, to consider their own versions of wrapped Bitcoin.
Cheong predicts that the next 6-12 months will see a surge in the amount of Bitcoin flowing into DeFi.
He believes that Coinbase’s “cbBTC” and other similar projects will bring billions of dollars into the DeFi ecosystem. This, in turn, will benefit platforms like Aave.
It’s important to remember that Cheong’s opinions are not financial advice. Do your own research before making any investment decisions.
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