AirSwap (AST), which has been targeted for delisting from OKEx, has seen its activity move to Binance. AST created a pump with the highest volumes in three months, showing that a coin could spark interest even after many weeks of subdued trading. However, AST has lost the liquidity of the active OKEx exchange after less than a year of trading.
AST started pumping around 12:00 UTC on Monday, and continued to climb in the past 24 hours. On October 30 as of 1:30 UTC, AST grew by more than 27% in the past 24 hours, with trading activity immediately picking up. More than 94% of that activity is coming from Binance.
AST reached prices above $0.11, almost recovering the losses of the past three months. Still, AST trades way below its peak value of $2.08, reached during peak market times on January 10.
The Airswap project aims to offer wallet-to-wallet token trading, a potentially popular feature, given the numerous tokens that do not find suitable markets. However, the asset has followed the fate of most tokens and suffered from lower enthusiasm from investors or traders.
AirSwap has been seen as an under-the-radar project. The Ethereum network is yet to see robust real-world usage, but AST is one possible solution, which differentiates itself from decentralized exchanges (DEX). Unfortunately, at the current low prices, AST may have turned into a speculative asset, affected by bots and short-term pumps that later retrace to the previous price levels.
Others believe AST is currently undervalued with a total market capitalization of around $19 million. Projects with market caps that low are usually seen as potential “moonshot bets”, with the possibility of rapid appreciation. For AST, the growth of the dollar price also depends on the BTC price positions.
However, the AST trading will enter a new stage, after reaching record volumes on Binance. Now, the asset will have to defend its direction on a single market, and show whether it has a strong community, or there are still traders waiting to realize profits.
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.