Aave Labs received MiCAR approval in Ireland and can now offer zero-fee fiat-to-stablecoin access across 30 EEA markets.
Push Virtual Assets will facilitate euro conversions into GHO and other stablecoins, while maintaining Aave’s protocol’s global independence.
Aave Labs has gained approval under the European Union’s Markets in Crypto-Assets Regulation (MiCAR), positioning the company to introduce zero-fee on- and off-ramps for GHO and other stablecoins across 30 European Economic Area markets.
The authorization, issued by the Central Bank of Ireland, gives Aave one of the earliest regulated footholds among DeFi players seeking compliant access to the continent.
Aave will operate through Push Virtual Assets Ireland Limited, its dedicated European subsidiary. The license enables Push to facilitate direct euro conversions into supported stablecoins without charging transaction fees, providing a new gateway for users seeking frictionless access to on-chain liquidity.
The company plans to integrate Push into multiple Aave products. As a result, users will soon connect traditional finance accounts to GHO and other stablecoins within Aave’s ecosystem, improving liquidity and reducing barriers to participation.
According to founder Stani Kulechov, the approval marks a turning point for DeFi accessibility across Europe, particularly as regulated bridges become a priority for institutions and retail users.
Moreover, Push will function independently from the decentralized protocol, which continues to operate globally without geographic restrictions. The regulatory entity instead focuses on providing compliant pathways for fiat-to-crypto transactions that align with Europe’s strict consumer protection rules.
The structure is designed to give users confidence as stablecoin regulations tighten across the region.
Aave selected Ireland due to its advanced preparation for MiCAR oversight. The country’s regulatory clarity has attracted a wave of crypto service providers, and Aave sees it as the ideal launchpad for its European operations.
Ireland’s leadership provides Aave with a framework that balances DeFi innovation with required safeguards. The approval places the company among a small group of projects operating under direct MiCAR supervision.
Push’s integration across Aave’s suite is expected to accelerate adoption. Users gain a regulated entry point while still accessing the protocol’s global liquidity pools. The model could become a template for future DeFi-to-fiat operations as the EU refines its standards.
Aave’s native token, AAVE, has shown renewed momentum. It trades at $187, having declined 12.61% in the past 24 hours. The market cap stands at $2.85 billion, supported by $596 million in daily trading volume.
Meanwhile, the weekly TD Sequential indicator has flashed a “9” buy signal, hinting at a potential trend reversal. AAVE recently closed near $217 after a steady decline that began in mid-August. The signal emerged after a nine-week negative sequence that pushed the token to its lowest weekly levels since early summer, just above $205.
Analysts such as Ali Martinez note that past patterns show the indicator aligning with key pivots in AAVE’s price history. However, the token remains well below its all-time high. Even so, rising protocol revenue, increased deposits, and expanding loan activity suggest stronger fundamentals as the MiCAR announcement amplifies market attention.
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Bitcoin (BTC)
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Ethereum (ETH) is down by 9.2%, now changing hands at $3,208. This, along with Lido Staked Ether (STETH), is the highest fall in the category.
Solana (SOL) is in in the second place, having dropped 8.6% to the price of $142.
The smallest fall is 2.3% by Tron (TRX), which now stands at $0.2927.
When it comes to the top 100 coins, only four are green. Among these, Zcash (ZEC) appreciated the most, rising to the price of $507.
Leo Token (LEO) follows with a 2% rise to $9.17.
On the other hand, three coins saw double-digit drops. Story (IP) fell 15%, now trading at $3.34.
It’s followed by Aave (AAVE)’s 13.6% and Hedera (HBAR)’s 10.4% to $185 and $0.1606, respectively.
‘Bitcoin Appears To Be Fighting One Battle After Another’
Nic Puckrin, crypto analyst and co-founder of The Coin Bureau, argues that the “crypto market has been struggling to regain momentum since October’s pandemonium.”
“Bitcoin appears to be fighting one battle after another, dragged down by US dollar strength and higher Treasury yields, long-term holders selling, and macro uncertainty,” he says.
Puckrin finds it “unsettling” to see crypto and tech stocks diverging when they typically move in lockstep. This dynamic shows that BTC “isn’t just a proxy for the Nasdaq.”
Rather, it’s more sensitive to macro headwinds and liquidity concerns and is “perfectly positioned to break out once those concerns dissipate.”
Notably, as the US re-opens and data starts flooding back in, “we may see the BTC price wobble over the coming weeks.”
The real test could be the interest rate decision in the US on 10 December. Still, “it remains likely that the news will be positive, which could set the stage for a Santa rally in crypto and other risk assets,” Puckrin concludes.
Moreover, Dom Harz, co-founder of BOB, commented on institutional involvement in BTC as the coin’s price drops below $100,000.
“Despite recent price movement, 2025 has been the year of institutional investment into digital assets, with institutions now holding over 4 million BTC,” Harz writes in an email commentary.
These institutions are “increasingly looking to store excess cash in DeFi vaults for higher-yield opportunities. These two movements are converging with Bitcoin DeFi; moving the world’s biggest digital asset beyond a store of value and into a yield-generating asset. “
He continues: “As this mainstream appetite for DeFi grows, serious technological advancements are unlocking Bitcoin’s utility. Key players in institutional crypto and Bitcoin DeFi adoption are opening up access to BTCFi, where institutions can leverage yield-bearing opportunities for their BTC holdings. Bitcoin DeFi is poised to be at the forefront of the global financial system – from Wall Street to Main Street.”
Levels & Events to Watch Next
At the time of writing on Friday morning, BTC fell below the $100,000 mark and to the $96,000 level, now standing at $97,033.
The coin has dropped from the intraday high of $103,737 to the low of $96,170. It’s now down 4.7% in a week, 13.7% in a month, and 22.9% from its all-time high.
We may see BTC pull back towards $94,500 and further towards the $90,000 level. A higher plunge could drag it lower. Conversely, if there is a change in course, the coin could climb back above $100,000 and move towards $103,000.Bitcoin Price Chart. Source: TradingView
Ethereum is currently changing hands at $3,208. It plunged from today’s high of $3,545 to the currently lowest point of $3,126.
Over this past week, it has been trading between $3,172 and $3,633. ETH is down 4.3% in a day, 22.2% in a month, and 35.1% from its ATH.
ETH may continue dropping today and over the next few days. Should that happen, it could retreat below the $3,000 level – far from the near-$5,000 zone where it stood just weeks ago. If there is a market rebound, the coin could return to the $3,500 territory and potentially $3,650.
Ethereum (ETH)
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Meanwhile, the crypto market sentiment has decreased again, holding firmly to the fear zone and moving to extreme fear. The crypto fear and greed index fell from 25 yesterday to 22 today.
Some investors are selling assets, driven by fear and worry over the continuously falling prices. If the market continues to ride this instability, it may decline further.
However, if assets are oversold, as high fear can sometimes indicate, the market could potentially see a rebound. Undervalued prices could also present a potential buying opportunity.Source: CoinMarketCap
ETFs See Significant Outflows
On Thursday, the US BTC spot exchange-traded funds (ETFs) recorded $869.86 million in outflows, the highest since February 2025 and the second-highest on record. The total net inflow is back down to $60.21 billion, but it still stands above $60 billion.
Ten of the 12 BTC ETFs recorded negative flows, and there were no positive flows. Grayscale let go of $256.64 million. It’s followed by BlackRock’s $256.64 million. One more triple-digit is $119.93 million by Fidelity.Source: SoSoValue
At the same time, the US ETH ETFs continued their outflow streak, recording another $259.72 million leaving on 13 November. The total net inflow pulled back to $13.31 billion.
Five of the nine funds recorded outflows. There were no positive flows. BlackRock is the reddest among these, letting go of $137.31 million. Grayscale follows with $67.91 in outflows.Source: SoSoValue
Meanwhile, Canary Capital’s XRPC, the first US spot exchange-traded fund offering direct exposure to XRP, made its debut on Thursday with $58 million in trading volume.
Such notable opening performance indicates that there is a rising institutional appetite for exposure to other major assets, besides BTC and ETH.
Quick FAQ
Why did crypto move against stocks today?
The crypto market has decreased again over the past day, and the stock market closed sharply lower on Thursday, dragged by technology shares. By the closing time on 13 November, the S&P 500 was down by 1.66%, the Nasdaq-100 decreased by 2.05%, and the Dow Jones Industrial Average fell by 1.65%.
Is this drop sustainable?
The market may see an extended downturn over the next few days as investors’ worries persist. However, should there be macroeconomic and/or geopolitical signals that would ease these concerns and reassure investors, the market could see a rebound.
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