AdToken (ADT), AdEx (ADX) Grow Even Hotter After Upbit Listing
ADT and ADX continue the rally from yesterday amid heightened volumes, while Basic Attention (BAT), the largest cap ad token added to Upbit, started to slide as initial enthusiasm weared out.
A day after Upbit, one of South Korea’s leading cryptocurrency exchanges, listed three tokens related to advertising, two of the new assets lined up among the top gainers. The performance of AdToken (ADT) was phenomenal, achieving a nearly 18% price growth amid an absolute record by trading volume of nearly $300 million for the past 24 hours.
ADT soared more than five times in less than 24 hours, reaching a peak of nearly $0.08 early on Tuesday morning (UTC) after trading at around $0.015 during the past month. It lost some steam later and is changing hands at around $0.054 as at 15.30 UTC.
Almost all ADT trading is concentrated on Upbit, allowing for the phenomenal climb in orders, possibly the work of bot trading.
The other asset of the same class, AdEx (ADX) also saw two solid days of record volumes, which now stand at $48 million for the past 24 hours, according to CoinMarketCap data. At peak prices in January 2018, ADX reached nearly $3.50, but has since lost almost 90% of that value. The recent recovery is yet to make a dent in the relatively long sideways drift for the token.
The enthusiasm for Basic Attention (BAT), however, turned down quickly, with a much tamer pump. BAT slid toward $0.35 as at 15:30 UTC, losing about 4% in 24 hours, though trading remains much more active than usually.
The next few days will show if the three tokens will continue to climb amid heightened volumes, or if trading will return to baseline levels. The fate of Basic Attention Token may be different, as the process of research and evaluation for a potential Coinbase listing continues.
All three tokens are part of projects that aim to bring a new model of handling the value of online advertising. In the future, those projects hope their tokens see increased demand based on the opportunities for buying and selling ads and access to ad viewers. AdChain, the project behind AdToken, also aims to solve the problem of bots and fake views.
Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. Cryptocurrency trading and investing is risky and market participants are advised to always conduct a thorough research.