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Highlights
- Aleph Zero (AZERO) crypto is a unique protocol which aims to offer a privacy-enhancing blockchain network with instant finality.
- The AZERO crypto 7 September was down by 5.01%, according to CoinMarketCap.
- The 2930-ranked token was trading at US$1.04 with a 24-hour trading volume of US$10,00,746, according to CoinMarketCap.
Aleph Zero (AZERO) crypto is a unique protocol which aims to offer a privacy-enhancing blockchain network with instant finality. The peer-to-peer network operates on the Proof-of-Stake consensus and seeks to solve the shortcomings of the DLT technology of speed, scalability, and validation time.
Powered by a seamless interface, the protocol offers enterprises unique business solutions, making them efficient and powerful. This unique Layer-1 protocol operates using the ZK-SNARKs cryptography and a Secure Multi-Party Computation (sMPC).
The AZERO crypto 7 September was down by 5.01%, according to CoinMarketCap. The token, however, was attracting decent volume interest as it gained over 14% at 10:30 AM (GMT+1).
Reason for AZERO’s dip
While the exact reason for the AZERO crypto’s decline is still unclear, it may be down due to the prevailing bearish market sentiment. The overall crypto market cap had slipped to US$939 billion and was down by 6.07%, according to CoinMarketCap.
Besides, AZERO of late hasn’t fared well in the past 30 days as it declined over 21%, according to CoinGecko.
Courtesy of the recent slump, the RSI of the AZERO crypto dipped to 37.80, indicating it is in an oversold position. It’s been a steady fall for the token and hasn’t quite managed to find a firm footing. The token had registered its all-time low of US$0.592052 during the July bear run, with major cryptos in its grips.
Image credit: Trading View
Even from the MACD perspective, we can see the bear market firmly controlling the situation. The signal line indicated a drastic downward slide.
How is AZERO crypto faring today?
The 2930-ranked token was trading at US$1.04 with a 24-hour trading volume of US$10,00,746, according to CoinMarketCap. The token had a market cap of US$79,456,734 with a total supply of 299,999,720 AZERO coins.
While the market investors would be hoping for a quick recovery, at the same time, they would also realise that the market is in limbo. Thus, in a market such as this, one always needs to tread carefully, and investors would do well to conduct their market research. It is pivotal to ensure that they don’t make a bad judgement regarding investments.
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