AVNT reached a new all-time high of $2.66 before easing to around $2.3.
Trading volume jumped 120% in 24 hours to about $7.24 billion.
Major exchange listings and incentive programs have fueled demand.
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While the broader crypto market began the week with a pullback, Base-blockchain-based decentralized perpetual exchange Avantis has seen its native token, AVNT, soar to fresh highs.
Earlier today, AVNT touched an all-time high (ATH) of $2.66 before consolidating near $2.3 at the time of writing. The token is up more than 60% over the past week with its market cap nearly doubling to roughly $618 million.
This strong rally began when exchange giants such as Binance and Coinbase confirmed AVNT listings earlier in the month. Binance further added fuel by announcing a 10 million-token airdrop for BNB holders, attracting a rush of fresh buyers.
Just minutes ago, Math Wallet also announced AVNT integration, widening accessibility for retail traders.
Avantis offers leverage of up to 500x, synthetic markets, governance through the AVNT token, staking options, and integration of real-world assets (RWA) such as metals and major currencies.
The project has recently captured the attention of traders seeking exposure beyond typical crypto products.
AVNT Traders Bullish, Caution Ahead
On the two-hour AVNT chart, the price is hugging the upper Bollinger Band, a sign of strong upward momentum. This suggests potential volatility and overbought conditions in the short-term.
Traders should watch for key resistance around the recent ATH near $2.66. Support appears near the mid-band (20-day SMA) around $2.00 and stronger backing near $1.80.
AVNT price cart with RSI and Bollinger Bands | Source: TradingView
Meanwhile, the RSI sits just below the classic 70 overbought threshold. This suggests buyers remain in control and a strong move above $2.66 could lead AVNT to the $3 region. However, a short-term pullback can’t be ruled out.
Notably, AVNT has a fixed maximum supply of 1 billion, with only about 258 million currently circulating, according to data from CoinMarketCap. More than 70% remains locked for airdrops, staking rewards, and early investor allocations.
Future token unlocks could result in selling pressure if market demand cools. This makes risk management essential for investors chasing the next 1000x crypto.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.