The AVNT token, associated with the Avantis decentralized exchange, experienced a remarkable surge of over 80% on Monday, further extending its impressive growth trajectory within the week. This substantial increase in value followed a series of listings by South Korea’s largest cryptocurrency exchanges, Upbit and Bithumb, joining the earlier support from major platforms such as Coinbase, Binance, and Bybit.
Avantis is positioned as the largest real-world asset perpetual decentralized exchange, leveraging the Base network and receiving backing from prominent investors like Coinbase and Pantera Capital. The platform facilitates trading in both cryptocurrency and real-world assets with an appealing offering of up to 500x leverage and zero fees, contributing to its escalating popularity among traders.
On September 15, Upbit made an announcement regarding the listing of AVNT, which became accessible in KRW, BTC, and USDT trading pairs. Following closely, Bithumb also confirmed support for the listing of the AVNT token, allowing trades in KRW. The immediate availability of the token for trading created a significant buzz, with exchanges specifying that deposits and withdrawals would only be possible via the Base network.
The influx of listings contributed to a staggering rise in AVNT’s value, pushing it past the $1.5 mark. It experienced a prior 350% jump after being listed on major exchanges the previous week. As of the latest reports, the token is trading at approximately $1.43, marking an 80% increase over the last 24 hours, with trading volumes up by 147%. The token’s lowest and highest trading prices during this period were recorded at $0.7305 and $1.57, respectively.
In the derivatives market, AVNT futures open interest reached unprecedented levels, hitting $150 million for the first time, marking a 105% increase in just 24 hours. Data from CoinGlass indicated significant growth in the futures market across various exchanges, with Binance, Bybit, and KuCoin reporting jumps in open interest of 105%, 98%, and 113%, respectively.
Overall, the rising demand for AVNT is reflective of broader tokenization trends and indicates a growing interest from investors within the crypto sector.
