The newly launched Avantis token has demonstrated remarkable growth within days, defying market expectations and captivating the attention of investors and analysts alike. With its price surging by more than 600%, AVNT has become one of the most talked-about cryptocurrencies.
While the US crypto market kicked off Monday on a downbeat note, Avantis emerged as a standout performer, outperforming top crypto assets including Bitcoin, Ethereum, and XRP. As the altcoin continues to soar, reaching new record levels, investors are wondering if this uptrend will sustain. This article discusses the current performance of AVNT and its potential trend, analyzing its key drivers.
Avantis Token Price Surges
Avantis is a decentralized derivatives exchange (DEX) built on Coinbase’s Base network. It attracts both retail and professional traders by combining self-custody and on-chain transparency. The project launched its crypto, AVNT, this month, amplifying its presence with an airdrop distributing tokens to thousands of wallets and listings on major exchanges. Gaining more attention and becoming one of the popular assets in the crypto assets, Avantis is now known as a potential “universal leverage layer” for DeFi.
On September 10, Avantis, which started trading at around $0.2056, started exhibiting a major transformation on September 12. Soon, the cryptocurrency hit an ambitious high of $2.36 on September 21, marking a staggering increase of 550%.
Earlier today, AVNT soared to another all-time high of $2.39, securing around a 13% surge in a day. While the token witnessed about a 68% uptick over the past week, it skyrocketed by a massive 616% since its launch. This positive sentiment is also reflected in the traders’ activity as the 24-hour trading volume has reached a high of $7.07 billion, up 63%. The market capitalization is also up by 12%, now at $544.97 billion, ranked 118th on CoinMarketCap.
Crypto Market Crash
Significantly, the AVNT token’s rally gains special recognition as it defies the broader crypto market trend. The market had a rough start this week, with major players like Bitcoin and Ethereum experiencing significant losses.
Notably, the $3.89 trillion global crypto market is now down by 3.5%. Bitcoin and Ethereum saw 2.58% and 6.5% declines over the past day. Assets like XRP, BNB, and Solana have also plummeted by 5.72%, 3.46%, and 7.56%, respectively. In contrast, the newcomer Avantis secured more than an 11% hike over the past day, becoming a standout performer.
What’s Driving this Rally?
Interestingly, Avantis’ recent surge could be attributed to several key catalysts. The price jumped over 200% after major exchange listings on Binance, Upbit, and Bithumb. Binance’s announcement of a 10 million-token airdrop for users holding at least 220 Binance Alpha points further fueled the rally.
Though the token saw a negligible retreat, it rebounded after the recent integration of Math Wallet. By widening the crypto’s accessibility to retail traders, the move has sparked widespread optimism, pushing AVNT towards new heights.
Will This Bullish Momentum Sustain?
Driven by this prevailing trend and growing acceptance of the token, AVNT is predicted to see more heights in this sustained bull run. Analysts and experts are closely watching the token’s price movements to see if it breaches critical points.
According to market expert Greeny, the next short-term target for AVNT is $2.7, breaking which could send the token to another ATH of $3.
