Avantis Token Skyrockets: Market Dominance in Perpetual Futures
Avantis’ token price has skyrocketed recently, driven by its growing influence in the perpetual futures market. AVNT reached an impressive high of $0.8447, marking a massive 315% increase from its lowest point this month. As a result, Avantis now boasts a market cap exceeding $160 million.
The rise in AVNT’s price can be attributed to several factors. Firstly, Avantis is expanding its footprint in perpetual futures trading. Data from DeFi Llama reveals that the platform has processed over $2.46 billion this month alone and $4.6 billion in August. This growth may accelerate further as Avantis ventures into the stock tokenization industry. It has already introduced tokenized Coinbase stock and plans to introduce more.
- Avantis managed $2.46 billion in volume this month
- Introduced tokenized Coinbase stock on its platform
Another contributing factor is the rising demand for Base Blockchain tokens. As an example, Aerodrome Finance’s token has jumped, increasing its market cap to over $1 billion. Zora has also performed well due to its integration into the upgraded Coinbase wallet.There’s potential for Coinbase to add Avantis to its platform too.
Smart money investors are also fueling AVNT’s ascent. According to Nansen, these savvy investors bought tokens worth $647,000 in the last week, resulting in a net inflow of $515,000. The number of AVNT tokens held by whale investors has risen significantly, further signaling positive trends.
Technical indicators support AVNT’s rally. After staying within a range of $0.203 to $0.409, it broke barriers to reach new heights.With strong pivot points, its price could climb even higher, possibly reaching $0.9765.
