Aeternity (AE) Price Analysis : Aeternity’s business on a Precarious Development
Aeternity is a decentralized, open source digital-asset platform that works on P2P technology. It is a brand new cryptocurrency with a quick commercial adoption due to the leading technology front which is leveraging and scaling Ethereum’s blockchain. It uses the hybrid PoW and PoS consensus algorithm along with supports sidechains. Mining of this cryptocurrency is done from decentralized RAM instead of CPU and GPU. The key features of Aeternity are- the tamper-proof data implemented on smart contracts, the hybrid PoW and PoS consensus mechanism, Self-arbitrating crypto court and secure transaction. The strong technical team is the main benefit of this crypto coin. It has launched blockchain 3.0 to port maximum ports to its platform. To support the blockchain system, a series of incubators and accelerator programs are also being launched.
Aeternity is ranked 50th cryptocurrency in the market with its current market cap value of USD 109,548,330 as on March 11 at 14:34 UTC for the corresponding 24h volume of $63,286,248. The latest value is higher than its relative value of USD 91,485,046 on February 11 by 19.74 percent. The market traded above 90 million USD at the beginning of January, crossed 105 million USD on January 10 and reached a high of 121 million USD by January 16, with an average increase in the value of 34.44%. Unfortunately, the market value collapsed and had been on a downtrend till February 18, with its lowest value on February 07 of USD 84,414,804. For a brief period, the market surged and reached a peak of USD 116,360,684, compensating for the earlier losses. The uptrend did not sustain for long, and the market value moved downhill reaching the current MCap value of USD 109,548,330 which is 5.85% lower than its peak value. The volatility of the cryptocurrency affects the MCap value with major variations. Current market shows a rise in value and puts AE under bullish pressure.
Current price value of USD and BTC are $0.433844 and 0.00011044 on March 11 at 14:54 UTC. Along with MCap value, the price of USD reached its peak on February 24 with values of $116,360,684 and $0.499358 which is 15.10% higher than the current value. The Price of USD and the MCap value of the cryptocurrency have overlapping each other wherein the price of BTC has been on major fluctuations compared to the pair with consequential ups and downs. Bitcoin’s price started as low as 0.00010360 at the beginning of this year and reached an all-time high of 0.00014199 on January 17, a 22.22% increase than the current price. The currency reached its milestone between USD 0.416580 on February 21 and USD 0.499358 February 24, with a 19.87% increase in the USD pricing.
Both the Moving Averages are in support of the increase in the value of the cryptocurrency. The 20-day EMA show shows an uptrend with the values increasing from February 19 with the value of $103,051,363 to the present value by 6.30% and the 14-day moving average is up by 8.87%. Although, the uptrend of the moving averages should put the market under the bullish pressure, the volatility of the cryptocurrency influences this decision. Considering the overall market, the balance is in favor of the sellers. Investors with long term investment plans should hold on until the market is stable. As far as traders with short term plans are concerned, it is an advantageous time to invest and earn returns. Their investments will bring stability to the market.