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Highlights
- Privacy-enhancing public blockchain Aleph Zero (AZERO) crypto is one of the unique tokens which offers solutions to enterprises catering to Web3 and DeFi.
- Launched in November 2021, the 2805-ranked AZERO crypto was witnessing a dip on Tuesday as it was down over 6.48% at 7:30 AM (GMT +1), according to CoinMarketCap.
- The Aleph Zero protocol on 23 August, was enjoying a volume gain of over 22.95% at the time of writing.
Privacy-enhancing public blockchain Aleph Zero (AZERO) crypto is one of the unique tokens which offers solutions to enterprises catering to Web3 and DeFi. AZERO crypto aims to target the issues related to speed, scalability and security that plague the DLT technology.
Operating both as a public and private ledger, the AZERO crypto depends on the Proof-of-Stake consensus and aims to allow the developers to further develop on the Zero-knowledge Proofs (ZKPs) and secure Multi-Party Computation (sMPC).
Launched in November 2021, the 2805-ranked AZERO crypto was witnessing a dip on Tuesday as it was down over 6.48% at 7:30 AM (GMT +1), according to CoinMarketCap.
Reason for AZERO’s dip
The exact reason for AZERO crypto’s dip is hard to establish considering it was one of the cryptos which managed to register gains over the past week or so. Though it has witnessed a few reds on the way, its performance in August has been more or less consistent. But, ever since US Federal Reserve released the minutes of its July meeting, AZERO crypto too has taken a hit.
In fact, if one were to look at the charts, it would reveal that the MACD line, despite it being below the signal line had managed to maintain a consistent run.
Image credit: Trading View
In fact, even though the RSI of the token during the intraday trading session was at 56.11 indicating that would indicate that it was still keeping market participants interested in the token.
Price and performance
The Aleph Zero protocol on 23 August was trading at US$1.28 with a trading volume of US$24,05,009 over a day, according to CoinMarketCap. The Aleph Zero crypto had a market cap of US $98,049,355 with a total supply of 299,999,720 AZERO coins. The AZERO crypto, despite being down, was enjoying a volume gain of over 22.95% at the time of writing.
Aleph Zero’s fall indicates how volatile the crypto markets can be and why market participants need to do proper market research before they make critical investment decisions.
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