$AVA — The story behind the 34% surge
$AVA This morning made me want to reread the project announcement before looking at the chart again.
At 08:50 on 18/10, AVA reached 0.3952 USDT, up 34.42%; AVA/USDT trading volume was about 11.82 million USDT over 24 hours.
In an update on 09/10, the AVA Foundation said the AVA locking requirement for new Smart members would double across all tiers, effective no earlier than 01/11. This is a publicly announced plan, but it’s not enough to conclude that it caused today’s rally.
In my view, the question worth watching is how much additional token demand the higher locking requirement will create, and whether it might discourage newcomers from joining.
The price has also pulled back from its 24-hour high of 0.4227 USDT. After such a rapid rise, chasing the price could still leave buyers exposed to a painful correction.
#AVA
$AVA This morning made me want to reread the project announcement before looking at the chart again.
At 08:50 on 18/10, AVA reached 0.3952 USDT, up 34.42%; AVA/USDT trading volume was about 11.82 million USDT over 24 hours.
In an update on 09/10, the AVA Foundation said the AVA locking requirement for new Smart members would double across all tiers, effective no earlier than 01/11. This is a publicly announced plan, but it’s not enough to conclude that it caused today’s rally.
In my view, the question worth watching is how much additional token demand the higher locking requirement will create, and whether it might discourage newcomers from joining.
The price has also pulled back from its 24-hour high of 0.4227 USDT. After such a rapid rise, chasing the price could still leave buyers exposed to a painful correction.
#AVA