Can the Ethereum-based Aragon (ANT) protocol make 75% profits?

While the larger market shows signs of correction again as Bitcoin falls below $ 48,500, a string of double-digit gains in altcoins over the past week have kept traders on guard. One of the altcoins that shot up and caught attention was Aragon’s ANT token.

Aragon, a protocol that works on the Ethereum network that powers DAOs, is developing a governance structure to incentivize community participation. The log has a trade volume increase of over 75% and a market capitalization of + 15% in the last 24 hours. With the price of ANT rising more than 88% in a week, the market appeared to be on the lookout for further gains, but it is important to see what started the rally and whether the move can be sustained.

What Price surge Increase?

The ANT token is up about 75% in the last 4 days after the price rose on 12/12. was traded higher. The rising price has also led to a high trading volume in the spot market, as the coin was active for 4 consecutive days. The trading volume increased six-fold compared to the volume at the beginning of December.

Source: TradingView

The award goes up along with the global DAO hackathon to attract developers to participate in the Aragon ecosystem. In fact, there have been rumors that the NFT DAOpunks project might airdrop to ANT holders to further support the coin’s rally.

What’s next?

While everything looks positive on the price front, a look at Aragon’s on-chain activity reveals a confusing scenario. The number of active addresses has increased from the low on December 11th. has not increased dramatically and is more than 70% below the ATH reached at the end of November. The active deposits are also higher and the activity also increases. healthy growth.

The source: Sanbase

In addition, the total number of addresses with a constant balance is a sign of not participating in the network. In fact, according to IntoTheBlock data, the number of new addresses has decreased by 60% in 7 days and the number of active addresses has decreased by 18.75% over the same period.

The source: IntoTheBlock

Institutional interest in this asset has not been very positive, and the low volume and volume of transactions is a sign that the big players are slowly disappearing.

Additionally, whales, HODLers dominate the ANT ownership metric, and the lack of investors and retail crowds may have been responsible for price movement so far.

In conclusion, ANT’s pricing structure is quite volatile and the coin has seen some big ups and downs in the last month. Additionally, despite the recent surge of over 70%, the price is still nearly 50% below its all-time high. Overall, ANT remains a high risk, largely speculative asset with a fledgling ecosystem.

While the increasing adoption of Aragon could help increase the token price significantly in the long term, in the short term it is better to do your own research before making a decision.

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