The Avantis crypto price has rallied in the past few days and is now hovering near its all-time high as key metrics in its network surge and demand for perpetual futures tokens increases. AVNT token was trading at $2.24, a few points below the year-to-date high of $2.6815.
Why Avantis Crypto Price is Soaring
Avantis price has been in a strong uptrend in the past few days, bringing its market capitalization to over $578 million.
One reason for this is that its network metrics have jumped to a record high this month. The total value locked in the network rose to a high of $25 million, up from zero a few months ago, a sign that its network growth is accelerating.
Avantis has had the best month in terms of volume. It handled over $5.79 billion in volume this month, higher than last month’s $4.6 billion. Its volume trajectory means that it has handled over $15 billion in the last three months.
Avantis has also generated the most fees ever this month. Its network fees stood at about $1.41 million, up from $1.2 million in the previous month. It has collected over $5 million in the past few months.
The Avantis price has also increased due to the rising accumulation by whales and smart money investors. Whales now hold about 3.2 million AVNT tokens, up from zero earlier this month.
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AVNT token is benefiting from the ongoing tokenization trend as it has introduced several tokenized stocks on its platform. It first introduced the tokenized Coinbase stock and, most recently, added the Magnificent 7 companies.
Avantis has also announced a 40 million AVNT token reward for XP holders in Season 3, which will be the most rewarding season in its history.
AVNT Price Technical Analysis
The four-hour chart shows that the AVNT price has been in a strong uptrend over the past few weeks, rising from a low of $0.2045 on September 10 to a high of $2.68 last week.
It recently pulled back and bottomed at $1.7390 as the crypto market crash happened and as some investors booked profits. It remains above the 50-day-period moving average.
Technicals suggest that the Avantis crypto price will likely bounce back as bulls target the all-time high of $2.68. A move above that level will suggest further gains, potentially reaching the psychological level at $3.
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