TL;DR

One lesser-known digital asset pumped by double digits over the last 24 hours after a green light from some of the biggest crypto exchanges. Despite warnings about high risk and volatility, some market observers predict the token could continue its upward move in the near future.

The Perfect Setup

Avantis (AVNT) a cryptocurrency which saw the light of day earlier this month made the headlines today due to its substantial price increase. It exploded by 50%, reaching a fresh peak above $1.50 and later retracing to the current $1.30 (per CoinGeckos data). The market capitalization, which was hovering at around $170 million on September 14, skyrocketed beyond $300 million.

AVNT Price, Source: CoinGecko The most likely catalyst driving the price up is the support from some of the biggest crypto exchanges. Earlier today, Binance listed AVNT with a seed tag, introducing the AVNT/USDT, AVNT/USDC, and AVNT/TRY spot trading pairs. 

It is important to note that this section comprises early-stage projects with high potential but also a bigger risk. That should serve as a warning to people willing to deal with such coins.

AVNT is a relatively new token that poses a higher than normal risk, and will likely be subject to high price volatility. Users must exercise sufficient risk management and DYOR (do your own research) to fully understand the project before opting to trade the token, Binance alerted.

Shortly after, the company added AVNT to its Binance Simple Earn, Buy Crypto, Binance Convert, and Binance Margin programs.

Other popular exchanges embracing the cryptocurrency include the leading ones in South Korea Upbit and Bithumb. The former introduced the AVNT/KRW, AVNT/BTC, and AVNT/USDT trading pairs, whereas the latter listed AVNT/KRW. 

The aforementioned platforms serve millions of clients, and their backing significantly enhances the tokens liquidity, accessibility, and visibility. It also strengthens its reputation, making the recent price rally anything but surprising.

More Gains Ahead?

Sometimes, price pumps caused by support from well-known exchanges are short-lived since a major bull run usually requires additional catalysts. However, some analysts believe AVNT can be among the exceptions, envisioning further spikes on the horizon. The X user Smith thinks the price may soon surpass $2.

$AVNT repeating its cycle.

+50% → +100% already delivered.

Now eyeing the next +150% leg.

Strong setup, don’t sleep on this one. pic.twitter.com/KhnqlMjK3D