Why is Aleph Zero (AZERO) rallying?

Highlights

• Aleph Zero (AZERO) crypto is a privacy-enhancing, DAG-based platform, which has a wide range of potential applications.
• Founded by Adam Gągol, Michal Swiętek Matthew Niemerg, and Antoni Zolciak, AZERO crypto’s first version went live on its mainnet in November 2021.
• The AZERO crypto on Friday was trading at US$0.713374 with a trading volume of US$8,84,916, as per CoinMarketCap.

Aleph Zero (AZERO) crypto is a privacy-enhancing, DAG-based platform, which has a wide range of potential applications due to its integration with substrate. According to its whitepaper, Aleph Zero crypto works in a dual role of both as a public ledger and private ledger.

Due to this, AZERO users can build DeFi projects that are faster and secure on a public DLT platform. At the same time, it can safeguard the privacy of each transaction. Founded by Adam Gągol, Michal Swiętek Matthew Niemerg, and Antoni Zolciak, AZERO crypto’s first version went live on its mainnet in November 2021.

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On 17 June, the 3033-ranked AZERO token was witnessing a rally of 6.15% at 11:00 (GMT+1), according to CoinMarketCap.

Reasons behind rally

AZERO crypto is rallying on the back of the news of its Uphold listing on 16 June. Uphold has launched the token for trading on its platform, where users can start trading from 17 June. At present, the trading for the token has been opened to users of all regions. The users can check the details from the app.

Besides the Uphold listing, the AZERO crypto joined hands with NovaWalletApp on 15 June to offer staking facilities to its users. In return, they will earn rewards for it.

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Some of the key features of the AZERO crypto are scalability, which allows the protocol to complete at a superior transaction speed. The fully decentralised platform boasts the speed of 100,000 TPS. Being seamless in nature, the AZERO crypto offers an opportunity for enterprises to offer businesses solutions that are efficient, powerful, and trustless system in nature.

Price and performance  

The AZERO crypto on Friday was trading at US$0.713374 with a trading volume of US$8,84,916, as per CoinMarketCap. Though the token was enjoying a price rally, from the volume side, it wasn’t having a good day as its volume was down by 58.32%.

At present, the Aleph Zero protocol was enjoying a market cap of US$51,098,111 with a total supply of 299,999,720 AZERO coins in circulation. The token has had a torrid run in the market and has lost more than 37% of its value in the past 30 days.

Conclusion

The present rally should be music to investors’ ears as it has broken the weeks of its bearish run. However, it remains to be seen, whether it’s a one-day wonder or not. Market participants must make sure that they do their market research and study the trends before taking crucial investment calls.

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