Ezra Icy
Aevo, a decentralized exchange built on Ethereum, is trending in the market, where its native token has surged 6% in just a day. The token price has fluctuated a lot in the past few days. So, what is happening with AEVO? Why is it rising? Let’s discuss that in this blog.
AEVO Price Analysis
AEVO is currently trading at $2.96 after a 6.2 dip in the last 24 hours, where the trading volume is $678,482,168 after a 73% hike. The market cap is also down by 6.5%, pushing it to $325,694,061. Within a day only, it has set the ATH record of $4.46 and is dealing with high volatility issues where the price is fluctuating around an average of $2-4.
It is launched with a total supply of 1 Billion and has the capacity to support more than 5000 transactions in a second.
Why is the AEVO Price Rising?
Exchange Listings
AEVO’s price surged because of its listing on the Binance exchange, the biggest centralized exchange. Binance had already announced about the inclusion of AEVO in Binance Launchpool on 8th March, and the listing was completed on 13 March. Here, the users are now allowed to trade, which has lifted its price.
Not only this but exchanges like OKX, Bitgert, Gate.io, Kucoin, and many others have listened to the token almost instantly. AEVO, being a part of the decentralized exchange list, has become a significant factor in its popularity. It provides high performance and low-latency periods just like a centralized exchange, and the decentralized nature is because of the security and transparency, making it a hybrid model.
AEVO Airdrop
The AEVO team has completed an airdrop of $30 million in rewards to the early users of the token. Because of this, many investors have sold them instantly to make a short profit, leading to volatility issues.
The team has also arranged farm boosts instead of tokens for the non-AEVO traders or users. These rewards were based on the investor’s trading activity on decentralized exchanges other than Aevo.
Also Read: Crypto Airdrops To Invest In March 2024
Conclusion
Aevo price soaring activity of just a day has shown the popularity of the token in the market. Because of the recent listing and rewards distributed by the AEVO team, the price has spiked up to 6% in a day. At the same time, the volatility has led to price fluctuations where the token has dropped as low as $2.76. Read more about MetaMask Dominates The Market With Recent Collaborations.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
