Following a challenging period where Aevo experienced an 82% loss in value, the cryptocurrency is now displaying promising signs of recovery. Notably, its market cap has surged by 13% to reach $429 million in the past 24 hours, and its trading volume has seen a significant uptick of 76% within the same timeframe.
Aevo (AEVO) hit an all-time high of $3.76 on March 28, 2024. Since then, it has reversed most of those gains, trading for $0.5098 at the time of writing.
Why is Aevo soaring?
One of the key factors contributing to Aevo's recent gains is its second Airdrops project launch in collaboration with Azuro Protocol. This initiative involves the distribution of 666,666 $AZUR tokens to eligible users. The claim link is already live today, June 25, at 8 a.m. UTC.
Furthermore, Aevo has more Airdrops in the pipeline for its stakeholders and pre-launch traders in the coming weeks.
After reaching its all-time high, Aevo began to face increased selling pressure, culminating in the disastrous decision to release 827 million tokens on May 15. This ballooned its circulating supply by 753%. The maximum supply is set at one billion tokens, which means limited emissions after this unlock. On top of the downward pressure caused by the emissions, the AEVO price fell to a new all-time low of $0.97 on May 15.
Aevo price prediction
On May 21, Binance announced an investment in Aevo to support L2 blockchain innovations, which helped stabilize the token's price, but the bearish trend continued.
While Aevo is currently showing steady gains, a return to its all-time high (ATH) appears unlikely. However, this could present a potential buying opportunity for those considering a long-term investment in Aevo. Various indicators such as moving averages, oscillators, and pivots suggest a price increase in the next week.
Coindataflow's prediction aligns with this, forecasting a return to $0.94 by the end of the year. Looking further ahead, in 2025, Aevo is projected to trade between $0.84 and $2.52.
Aevo is a decentralized exchange focused on perpetual, options, and pre-launch trading. It runs on the custom Aevo L2, built on Optimism. The exchange uses a hybrid (on- and off-chain) model to provide a low-latency, high-performance trading experience like a centralized exchange while maintaining the transparency and security of decentralized settlement.
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