The AVNT token, native to Avantis—a decentralized perpetual futures exchange on the Base network—has continued its double-digit rally following a strong debut.
Despite its strong performance, concerns around the integrity of the token’s distribution have surfaced. On-chain analytics platform Bubblemaps disclosed evidence of a sophisticated Sybil attack surrounding AVNT.
AVNT Trading Volume Explodes 280% After Major Exchange Listings
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BeInCrypto recently reported that AVNT’s entry into the market was bolstered by strong backing from major exchanges. On Monday, the token achieved a significant milestone with triple listings on leading South Korean platforms Upbit and Bithumb, as well as on Binance, the world’s largest cryptocurrency exchange.
The listings sparked a sharp rally, pushing AVNT’s price above $1 and driving it to a new all-time high (ATH) of $1.54 yesterday. Moreover, momentum has continued.
BeInCrypto Markets data showed that the token gained 30.6% in the past 24 hours. At the time of writing, AVNT was trading at $1.13. Furthermore, its market capitalization has also risen from around $180 million to $296.5 million.
Investors are also actively trading AVNT. Daily trading volume exceeded $2 billion, representing a 280.70% increase from the prior day. South Korean traders accounted for the majority of liquidity, with approximately 29% of volume on Upbit.
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Author: Kamina Bashir
