AVNT (Avantis) fell 11.47% in the last 24 hours.

Gate News Bot news, on September 28, according to CoinMarketCap data, as of the time of writing, AVNT (Avantis) is currently priced at $1.39, having fallen by 11.47% in the last 24 hours, with a high of $2.66 and a low of $1.35. The 24-hour volume reached $725 million. The current market capitalization is approximately $359 million, a decrease of about $46.46 million compared to yesterday.

Avantis is the largest derivatives exchange on the Base network, providing trading services for physical and crypto assets. AVNT is Avantis's native utility and governance token, used to support protocol incentives, trader rewards, and community-driven development. The platform allows users to trade cryptocurrencies, foreign exchange, metals, commodities, and indices, operating directly from their wallets, offering global markets and unlimited leverage trading.

AVNT recent important news:

1️⃣ AVNT price volatility continues The AVNT price has experienced significant fluctuations recently. On September 22, the AVNT price reached a high of $2.58, with a 24-hour volume surpassing $6.7 billion. However, a substantial correction followed, with the price falling to $1.39, resulting in a cumulative decline of 46.12% over 7 days. This dramatic volatility reflects the market's heightened attention to AVNT and short-term speculative behavior, while also exposing its price instability.

2️⃣ Avantis launches a large-scale token incentive program Avantis announced that it will provide 40 million AVNT tokens as rewards in the third quarter, worth over 80 million USD. These tokens will be distributed to XP holders over the next 5 months. The incentive program aims to enhance user engagement and platform activity, which may have a positive impact on the long-term value and liquidity of AVNT, but could exacerbate price volatility in the short term.

3️⃣ Gate continues to launch AVNT-related activities Gate exchange has launched a series of AVNT-related activities, including HODLer airdrops, perpetual contract trading, and staking mining. Among them, staking GUSD or AVNT allows participation in a reward activity that shares a total of 750,000 AVNT tokens, which helps to increase user engagement and the liquidity of AVNT. These activities may support the volume of AVNT in the short term, but they may also lead to increased price volatility.

From a technical perspective, AVNT has experienced a significant correction after a substantial rise, and the current price is in a stage of oscillating decline. The current price of $1.39 has fallen significantly by 46.12% from the previous high of $2.58, indicating a cautious market sentiment. From a fundamental perspective, as the native token of the largest derivatives exchange on the Base network, the long-term development prospects of AVNT are still worth paying attention to, but investors need to be wary of the potentially sustained high volatility risk in the short term.

This message is not an investment advice, and investors should be aware of market volatility risks.