The Aeternity (AE) project is on track to move to a new blockchain, but the actual event did not materialize as promised at the end of July. Despite the lack of information its trading volumes picked up this week.
Aeternity is normally one of the projects that has kept up transparent progress on its developments, including even minor improvements. However, running its mainnet will have to wait, for now, as Aeternity will be on the watchlist for updates and announcements. The project is now seeking to expand its team, and is actively presenting itself on conferences.
Aeternity is a unique project aiming to introduce its proprietary programming language for smart contracts, as well as to build real-world oracles, including Internet of Things sensors, or other forms of entry data for smart contracts.
The rise in trading volumes from the past days cannot be attributed to any significant exchange listings for AE, which were left in the past, but it may be due to the expectation of the mainnet swap coming soon. So far, the team has not given any indications on how the swap would work, whether through a wallet or with the assistance of exchanges.
The AE market price has shown some increased day to day activity, though without dramatic price moves. In the past days, the AE markets have increased volumes way above the rate recorded over the past three months. However, the AE market price has remained relatively stagnant, sliding down to $1.81 on Wednesday (12:00 UCT). In the latest downturn of all crypto assets, AE lost nearly 7% in 24 hours, on extremely volatile intraday trading.
According to data from Cryptocompare, more than 41% of all trades happen against the USDT token.
AE is a curious digital asset, in that its market price is relatively independent from Bitcoin prices. More than 58% of AE trading happens on Bithumb against the Korean Won, as trading statistics on CoinMarketCap show, and the rest of the gap is filled with trading against Tether (USDT). This creates an independent price-discovery mechanism for AE, which allows a different form of risk for investors and traders.
In the coming days, AE may attract attention again, but also expose traders to its unique brand of intraday volatility.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.