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Highlights
- The ALI crypto was trading at US$ 0.00002448 per token and probably caught the investors' attention.
- The ALI crypto could be the native token of the AiLink network. AiLink network was reportedly founded in Shanghai, China.
- As per CoinMarketCap, the ALI crypto is an ERC-20 token, and it is based on the Ethereum blockchain.
The price of AiLink Token (ALI) rose by around five per cent on Wednesday morning, May 11. The ALI crypto was trading at US$ 0.00002448 per token and probably caught the investors' attention amid a crashing market.
Also Read: Zilliqa (ZIL) crypto soars amid a rising market. Here's why
The cryptocurrency market has declined rapidly over the past few days, triggering a selloff in the market. On May 10, Bitcoin's price fell below the US$ 30,000 level and later recovered.
As of writing, Bitcoin was trading at US$ 31,698.95 per token, and Ethereum's (ETH) price was US$ 2,427.51 apiece. Due to the decline in prices of almost all the cryptocurrencies, potential investors are probably looking for virtual currencies that record price gains over the previous day.
It is probably due to this reason that the ALI crypto could be gaining traction among crypto enthusiasts.
What is ALI crypto?
The information on ALI crypto is scarce, and even its Twitter account has no latest updates from the network. As per its official account on the microblogging platform, AiLink is an open-source platform based on blockchain technology.
Also Read: Bitcoin SV (BSV) crypto records surge in price and volume. What's next?
The ALI crypto could be the native token of the AiLink network. AiLink network was reportedly founded in Shanghai, China, and as the country has banned cryptocurrencies, the information about the company is not available on public forums.
As per CoinMarketCap, the ALI crypto is an ERC-20 token, and it is based on the Ethereum blockchain. The total supply of the ALI crypto is 10 billion, and there are 5.18 billion ALI tokens in circulation.
Despite the price surge, the ALI crypto trading volume is unknown, and investors should exercise caution before purchasing this cryptocurrency. There’s no apparent reason behind the price surge of ALI crypto.
Generally, it isn't easy to sell cryptocurrencies with little volume, and we don't even know the trading volume of the ALI crypto.
Bottom line
Due to recession fears over the US Federal Reserve's move to hike the interest rates, both equity and the crypto market have become increasingly volatile. The prices are fluctuating due to it.
Investors should research before investing in cryptocurrencies as there's a risk of losing money if the lesser-known crypto token vanishes.
Also Read: ANKR crypto price is down and volume is up 18%. What's next for Ankr?
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