Aion (AION) Price Analysis : Aion’s Blooming Business – A run-through on the Advancing Market
Aion is the first multi-tier blockchain network that resolves issues related to scalability, interoperability, and privacy. It also has a federated blockchain network alongside. The core of the Aion’s technology is its third-generation blockchain, AION-1, which connects different blockchains. The consensus is the algorithm that executes the connection. It works as a bridge consensus for quick transactions and stability; it works as a connecting network consensus. Aion Virtual Machine is the decipherer that works with the Java Virtual Machine to run the applications on the AION-1 blockchain. The network is comprised of various attributes that keep up the connections. Those features include connecting Networks, interchain transactions, bridges and participating networks that have successfully integrated with the connecting network.
AION stands in the 103rd position in the crypto market. According to the stats from CoinMarketCap, AION is trading with its MCap value of $39,542,221 USD for a 24h volume of $2,029,537. The price of the cryptocurrency as on March 11 is USD 0.135480. This is based on the circulating supply of 291,866,662 AION coins. The market, on the whole, is unstable and has been majorly on the downtrend. The Mcap value has been bound to range between USD 30 million and USD 40 million. It reached its pinnacle on January 07, where the MCap value exceeded 40 million USD and reached USD 46,115,215, which is 88.34% higher than the present day value. In a month, on February 06, the currency touched it were lowest of $29,659,034USD and traded for USD 0.104799. However, the market has been gradually increasing, and the current value is 33.32% higher than that on February 06. It reached a significant high of USD 40,996,192 on March 10. The 20- day EMA also shows an uptrend with the increase in MCap value from $33,700,817 on February 20 to the current value, a hike of 17.33%. This pushes the cryptocurrency into the bullish market.
CoinMarketCap has also been observing the prices of USD and BTC along with the MCap values. The present prices of USD and BTC on March 12, 2019, are 0.135480 and 0.00003466 respectively. Stats show that the MCap/USD pair has taken the lead, followed by the price of BTC. There were price swings in the price of BTC when it started low in January and reached a peak before going downtrend again. However, the price of BTC was at its lowest on February 26 with value 0.00002813 and has bounced up 23.21% to reach the present-day value, and the highest was of 0.00003555 on March 10. Both the price of USD and the MCap value have been on a similar wave, after going downtrend from January 28. The numbers went downhill after that, but it started ascending as fast as it went down. The cryptocurrency reached its milestone with the price of USD shooting from 0.120221 USD on March 08 to 0.140462 USD on March 10, a 16.84% growth within 02 days.
The 14-day MA also exhibits an uptrend with Mcap value increasing from February 09 to the current value by 21.02%. With both the moving averages on an uptrend and the bullish pressure on the market, the cryptocurrency’s balance is in favor of the buyers both long term and short term investments. Investors would see a good profit if this market trend continues to have a stable increase in the future. Similarly, traders investing in this cryptocurrency will increase the value of both the currency and their investment.