Larger markets seemed to see Bitcoin on its recovery path above $ 48.5K, but some altcoins and double-digit gains over the past week are still holding back traders. I did. One such altcoin with a significant increase in price and social attention was Aragon’s ANT token.
Aragon, Ethereum With the development of network-based protocols that support DAO and governance structures that facilitate community engagement, volume has increased by more than 75% and market capitalization has increased by more than 15% in the last 24 hours. The market seemed to expect ANT to rise further as ANT’s prices soared by more than 88% in a week, but before that, what caused the rise and whether the rise would continue. It was important to confirm.
What led to the surge?
ANT tokens have risen about 75% in the last four days after the price rose on December 12. In addition, as coins traded very actively for four consecutive days, soaring prices increased the volume of assets traded in the spot market. .. Trading volumes saw a six-fold surge compared to early December volumes.
The price increase coincided with the DAO Global Hackathon, which aimed to attract developers to the Aragon ecosystem. In fact, there were rumors that the DAOpunks NFT project could airdrop ANT holders to further support the coin rally.
What’s next?
Things seemed to be flickering in terms of price, but looking at the activities on the Aragon chain presented a confusing scenario. ANT’s active addresses have risen from the low levels seen on December 11th, but have not seen a significant rise. It was more than 70% lower than the ATH seen in late November. Active deposits also increased, and development activities showed a healthy increase.
In addition, a constant total number of balanced addresses indicated a lack of participation in the network.In fact, according to data from, a 7-day change to the new address To the block Was -60.00%, and active addresses decreased by 18.75% over the same period.
Institutional investors’ interest in assets is also unsatisfactory, with low network transactions and high transaction volumes indicating that large companies are dropping out of the field.
In addition, whales and HODler dominate ANT’s ownership statistics, and a shortage of investor and retail crowds could be behind alt’s volatile price behavior these days.
That said, the price structure is quite volatile and the coin showed some big ups and downs last month. Moreover, despite the recent rise of over 70%, alt is still down almost 50% from its previous highs. Overall, ANT is a high-risk, predominantly speculative asset, and the ecosystem is still emerging.
Increasing adoption of Aragon applications can significantly increase the price of tokens in the long run, but in the short run it is advisable to do your own research before migrating.
