Why is Aventus (AVT) crypto rising? - Kalkine Media

April 05, 2022 10:26 PM AEST | By Rupam Roy
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  • Aventus describes itself as a layer-2 blockchain protocol that focuses on enhancing scalability and speed while providing lower-cost transactions on the Ethereum network.
  • The AVT token is listed on various major crypto exchanges like Coinbase Exchange, Bittrex, etc.
  • It gave a return of over 38% in the last 30 days.

The global crypto market seems to have regained its momentum on early Tuesday as the market cap of the worldwide crypto market rose 0.71% to US$2.16 trillion, while its one-day volume rose 9.83% to US$105.82 billion, according to Coinmarketcap.com.

Meanwhile, Bitcoin (BTC) and Ethereum (ETH) rose 1.38% and 1.17% to US$46,553.61 and US$3,508.92, respectively. Aventus (AVT) also gained considerable traction among the gainers due to its rally on April 5.

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What is Aventus (AVT) crypto?

Aventus describes itself as a layer-2 blockchain protocol that focuses on enhancing the scalability and speed of the Ethereum transactions while providing lower costs. It says that scalability is one of the prime issues of Ethereum that affects its success.

As most businesses choose the Ethereum blockchain network, its maximum transaction appears insufficient to meet the overall demands. Due to the higher demand and supply woes, the transaction fees are increasing, making it more expensive for the users.

Aventus intends to provide a solution to the problem by letting businesses build on top of the Ethereum network with its second-layer protocol. It claims that through its network, applications can work seamlessly with any other blockchain technology, cross-chain, through plugging into the Polkadot ecosystem built on Substrate.

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Why is it rising?

There could be various reasons, including its innovative services, that may have bolstered gains in the AVT token. Meanwhile, its network claims to provide 2,000 transactions per second while offering a much cheaper transaction cost than the Ethereum network's offerings.

The project has gained the investors' attention lately, especially after announcing a partnership with the investment firm Scytale Ventures to boost its Polkadot Parachain plans. In addition, recently, the Gate.io exchange has created a voting poll to list Aventus on its exchange, and Aventus has requested its followers on social media platforms to support them.

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Notably, on March 31, it announced that it had reached a significant milestone that may also have attracted investors. It said that as part of its network's layer 2 upgrade work, its mainnet had been upgraded to V3.

Meanwhile, the AVT token is also listed on various other major crypto exchanges like Coinbase Exchange, Bittrex, Hoo, etc.

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Aventus (AVT) crypto price and performance                                             Source: *Data provided by CoinMarketCap.com

Bottom line:

The AVT token was priced at US$3.40 at 6:07 am ET on April 5, up 19.43%, while its one-day volume skyrocketed 1644.09% to US$7.43 million. Having a max and total supply of 10 million, its current circulating supply is 6 million.

It has a market cap of US$20.39 million, while its fully diluted market cap is US$33.99 million. It gave a return of 38.24% over the past 30 days.

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