What is Happening with the Aevo Price?

According to CoinGecko data, Aevo's price peaked at $3.55 on Mar. 28, then dropped to $2.79 on Apr. 1.

Aevo price hit a high of $3.55 on March 28, the highest it has been in those three months. Now, the price sits at $0.50.

According to Crypto Koryo, Aevo has become the worst performing altcoin in terms of percentage lost over the last 3 months.

Last 3 months have been like a mini bear market for many alts, from March local highs:

$AEVO: -88%

$MAVIA: -84%

$DYM: -83%

$WEN: -81%

$SATS: -81%

$WLD: -79%

$PYTH: -77%

$ALT: -76%

$STRK: -75%

$DYDX: -74%

In 2022 when alts were down ~90%, we had:

Luna+Celsius+FTX collapse

No… pic.twitter.com/QNMLNGOd2S

— Crypto Koryo (@CryptoKoryo) June 18, 2024

What’s Happening To Aevo Price?

According to CoinGecko, Aevo’s price peaked at $3.55 on March 28, then dropped to $2.79 on April 1.

However, the downward trend did not end there. After the price managed to return to $3 and rose to $3.10 on April 9, it began to fall sharply.

On April 14, the price of Aevo collapsed to $1.51. By May 15, the Aevo price lost the $1 level and fell to $0.794078.

Aevo price history. Source: CoinGecko

Why is Aevo Price Dropping 88%?

Aevo is a decentralized exchange (DEX) that offers staking and trading.

It is difficult to pinpoint exactly why Aevo’s price dropped by 88% in those three months. One possible reason could be that the DEX market is already saturated, making it difficult to compete with the large players like Uniswap.

Nevertheless, Aevo is trying to compete with the rest of the platforms and introduced its Aevo Airdrop program on May 19.

Aevo Airdrops & Aevo Staking Benefits ?

Pre-Launch markets have been one of the novel trading instruments that came out this cycle and we’re glad to be contributing at the forefront of this market. ⁰⁰We’ve been the earliest in listing some of the biggest projects this year… pic.twitter.com/yo2q6PnRPj

— Aevo (@aevoxyz) May 19, 2024

Aevo provides projects that are just entering crypto exchanges the opportunity to join this program, allowing the platform’s traders to gain access to new tokens.

It’s worth noting that not all traders will be able to trade these projects – only those who are active on Aevo and participate in staking.

But this initiative didn’t help the price of Aevo go up either.

Number of New Depositors Dropping

According to Dune, weekly depositors have been falling since March 2024. On March 1, returning depositors amounted to 16.36k, while new depositors rose to 11.30k.

However, this number began to fall drastically. By March 18, returning depositors amounted to 2.97k, while new depositors also fell to 2.97k.

At the time of writing, weekly depositors have fallen below 1,000. According to Dune, on June 17, returning depositors amounted to 373, while new depositors amounted to 75, making a total of 448 depositors.

Falling weekly depositors on Aevo. Source: Dune

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