To some, AscendEX is a trading platform for digital assets, but little is known about its history and the native token it offers. In the last year, the native token of the AscendEX platform called the ASD token made crazy returns for some lucky investors. For others, it was a disappointment, as the ASD price didn’t stay at the highs and lost all of its growth in a few months.
|Price Change 24h||+0.06%|
|Price Change 7d||-1.13%|
|Circulating Supply||660,615,274 ASD|
|All time high||$3.26|
|All time low||$0.01411|
Trade ASD Now
Today, we look at the ASD token, which is unique to the AscendEX platform, and see what it has to offer. The current cryptocurrency market rank of #284 is not enough to make it impressive, but it offers AscendEX token holders some unique features. The ASD price equal $0.24 today, the market cap is $164,540,035, the fully diluted market cap is $194,139,998, and the 24-hour volume is $2,340,476.
So let’s get started with AscendEX Token (ASD) price prediction to help you make better financial decisions and other forecasts!
The Overview of AscendEX Ecosystem
AscendEX was formerly known as BitMax. It is a global cryptocurrency exchange including spot, margin, and futures trading, with wallet support and staking support for more than 200 blockchain projects. It was launched in 2018, and the platform has over a million retail and institutional clients. It offers high liquidity and, in general, is a good platform for secure custody solutions and investing in digital assets.
The project team involves George Cao and Ariel Ling, who are also founding members of the platform. It also includes other features such as cross-asset margin mode and free discounts for users who are willing to stake using its ASD token. This also gives a user some VIP fee discount level that is proportional to ASD positions held.
It also has instant unbonding, compound mode, and the ability of staked assets to be used as margin collateral. These features combined with AscendEX’s early mover’s advantage in the crypto exchange have made it one of the known platforms that do pretty well even without much news coverage as per the data.
The original vision for the AscendEX (BitMax) was to improve the efficiency of organizational collaboration of blockchain technologies through a user-based intrinsic value exchange system. This was achieved by taking the project to life as an innovative digital asset platform.
Features of AscendEX
The idea is simply to increase the real-time settlement rate and be consistent in terms of exchange operations all the time. These transparent business rules help deliver value to customers while ensuring that customers are always satisfied with the trades that they commit.
It offers an institutional-quality investment platform with in-memory matching algorithms, high security, scalability, and easy maintenance. The friendly trade environment also supports API and H5/APP access and claims 400k transactions per second speed.
The security is built in cooperation with a third-party independent security firm. Though it is not disclosed who this third-party service provider is, it claims that they have multi-level firewalls to monitor incoming system data in real-time. It also uses hot and cold wallet solutions to provide security for digital assets to customers.
According to the data, the platform initially supported only the crypto to crypto spot trading model. In the early stages, it only provided support for mainstream tokens such as BTC, ETH, BCH, LTC, and USDT. Since then, it has increased the number of crypto pairs available for investing on the platform. And as a part of their listing services offerings, other high-quality tokens are introduced on the platform every single month.
Developers can also get their tokens listed on the AscendEX platform by contacting their support team. It also released the ASD token at the launch of transaction mining and reverse mining as a part of the initial ecosystem buildout. By September 12, 2019, combined modes of transaction mining and reverse mining were discontinued as the platform entered into business expansion.
The platform did not support fiat currencies such as USD, RMB, JPY, KRW, etc. But that has all changed as the AscendEX token now supports the purchase of cryptos with over 60+ fiat currencies, and it also offers users to stake rewards and DeFi yield farming.
Using its resources and proper partners in the cryptocurrency industry, AscendEX was able to connect with a number of foreign and domestic partners who agreed to trade on the AscendEX platform. This greatly increased the market liquidity it could provide and helped support adequate liquidity in times of crisis.
The initial release version had only English and Chinese versions. Though, it was initially planned to have more languages such as Japanese and Korean to help its integration into those economies as well.
- Complete Platform Customer Support
The platform can run on web browsers, android clients, iOS clients, HTML 5 Mobile, and PC clients. This makes it quite portable and allows it to be compatible and run across all channels. This ensures that there is no single point of failure in terms of customers accessing the platform of AscendEX.
What is ASD Token?
The AscendEX token ASD is a functional utility token native to its platform AscendEX. The token holders of ASD are eligible for benefits and services exclusively. The team finalized the implementation of the smart contract solutions for ASD back in October 2019. During that time, the total supply of ASD reduced from 1 billion tokens to around 787.6 million tokens.
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Depending on the number of ASD consumed, an equal amount of AscendEX token is automatically converted to ASDs. Thus, the number of ASD displayed through the smart contract address continues to decrease with time. It is to be noted that ASDS cannot be traded or have any value, and it is simply a number used for display purposes only as of now. The conversion of ASD to ASDS is also irrevocable and cannot be converted back to ASD. Within the AscendEX ecosystem, ASD token holders are granted some rights.
Use Cases of ASD
ASD tokens are used as an exchange unit for services offered on the AscendEX platform. ASD can be charged as a fee by the platform whenever a user participates in the platform’s promotional activities. It can also be consumed via the purchase of benefit cards such as Point Cards.
Depending on the user types, the AscendEX also offers multiple modes for investing, either regular or margin, depending on the customers’ requirements. The mechanism is optimized to provide incentives to every tier of investors to meet the essentials of a diversified market.
- Tiered VIP Transaction Fee Structure
Since the implementation of this fee structure, ASD token holders are offered lower fees and other market incentives. This increases revenue for the platform, which can then be used for its own growth.
ASD token holders consume a certain amount of ASD for added benefits, and these can include membership upgrades or interest on a margin loan, airdrops, etc. Thus, the total supply continues to decrease with time as the ASD are converted into ASDS tokens.
ASD Technical Analysis
If you were to hold just some bucks of ASD at the beginning of 2021, each of those tokens would have reached the highest price of up to $3. This is why the cryptocurrency market is always attractive for some digital coins. Traders who are interested in knowing the future of altcoins may read more here. The price chart below shows the ASD price for the past year, and as we can see, within the first quarter of 2021, the ASD price uptrend continued like crazy.
We can see that there was high volume participation for the short term in the first quarter, and the ASD price rose dramatically, increasing the volatility as shown by the Bollinger bands. During this growth period, the RSI line continued to fall and thus should not be used in an uptrending market. After rising from its lowest price, it traded under a downtrend in April and continued until July 2021.
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On March 27, 2021, the all-time high was $3.26. Since then, the ASD price has lost all of that momentum, and the current price sits at $0.2. This is only a fraction of its highest price, but the ASD ROI at that time was upwards significantly. For now, we will look at what we can do and use a shorter time frame to identify the current price trajectory below.
The above chart shows the period from February 2021 till now. We can see the ASD token touched its 50 days simple moving average in August 2021, and from then on, the ASD price continued to hover around the 50-day moving average. In September and November 2021, the Accumulation/Distribution indicator registered a huge spike as the market participated heavily. Due to this, the ASD price increased but lost all of its momenta.
Since November 2021, the ASD digital coin has continued to downtrend and stays the same even now at the current price above $0.249. In the above chart, the MACD line is just crossed above the signal line which reflects possible upside momentum in the upcoming days. Still, it is advised to stay away from the ASD token for the short term as it seems a little too risky with no latest news updates available. Until some news highs are formed, investors should wait and make a calculation about the average ASD price level where they are likely to enter a trade. On the other hand, traders can short the ASD tokens before the price rise happens and create new highs.
ASD Price Prediction: Expert’s Opinion
According to AscendEX token price forecast by Wallet Investor, your current investment has chances of being devalued for a 1-year investment. The ASD price increase is not expected for the year. The minimum price, maximum price, and average price may be $0.183, $0.222, and $0.2014.Wallet Investor
As per Digital Coin Price’s ASD forecast, the average price for the year 2023 is expected to be $0.407 USD price, while the average price for the year 2024 is predicted to be $0.4145 USD price.Digital Coin Price
GOV Capital’s ASD price forecast suggests that the assets may not be an excellent addition to your portfolio in the future. The price of ASD may not rise as per the data and technical analysis. The maximum price, minimum price, and average price by the 2nd quarter of the year may reach $0.0422, $0.0311, and $0.0367, respectively.GOV Capital
As per TechNewsLeader’s ASD price prediction, the price can go as high as $0.77 in 1 year. Whereas the average price, minimum price, and maximum price for the year 2025 may be $1.62, $1.57, and $1.90, respectively, as per the ASD forecast.TechNewsLeader
Based on CoinCodex’s ASD price forecast, the current sentiment is bearish, and the Fear & Greed Index intimates extreme fear. The maximum price, minimum price, and average price levels are $ 0.247854, $ 0.244990, and $ 0.246119 for the current month.CoinCodex
According to CoinArbitrageBot’s ASD price forecast, the price change will remain negative for the next 30 days. The maximum price for the year 2023 is predicted to be $1.08039, which is 333.01% more than the current price.CoinArbitrageBot
ASD Price Predictions: 2022-2026
We have used historical data and data prediction algorithms in our forecast system to come up with the following ASD price predictions. Do note that these forecast prices do not indicate the future price value. Past performance is not indicative of future results, and investing should be done using sound principles that help generate good returns over a long period.
The following price predictions should not be interpreted as financial or investment advice. Consult a financial expert and understand the risks before investing in the crypto market. Let’s read more on ASD Price Prediction for the long term.
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ASD Price Prediction 2022
Based on the ASD price predictions, the minimum price of ASD for the year 2022 is forecasted to be $0.54, with an average price of $0.56 and a maximum price of $0.65. The past prices have been slightly profitable, and the same is expected to be true for ASD’s future prices but only in the long run.
ASD Price Forecast 2023
The minimum price value is expected to be $0.80 as per our ASD price forecast. The ASD price prediction model also dictates that the price is likely to move around an average price of $0.83 throughout the year 2023 with a maximum value of $0.96.
ASD Price Forecast 2024
The average price of ASD is predicted to be around $1.16 in the year 2024. The ASD price prediction models also indicate that a minimum value may be around $1.12, and a maximum price may be $1.39. A positive trend is expected based on the historical data and technical analysis.
ASD Price Prediction 2025
According to our ASD forecast, the coin is expected to reach a maximum price and minimum price of $1.59 and $1.97, respectively, for the year 2025. The average price of ASD will be around $1.65. The prices may see a spike if any new feature adds up or any integration occurs. In any such cases, the price forecast may become untrue.
ASD Price Prediction 2026
Based on our ASD forecast, the minimum price will be $2.33, the average trading price will be $2.4, and the maximum price will be near $2.79 for 2026. From the above price forecast for ASD, it is clear that the coin may not see a sudden price increase as it had in the past, but there is nothing certain in the crypto market. The coin still has some positive market sentiments.
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Frequently Asked Questions
Where can I buy the ASD tokens?
The ASD token is available for purchase on the AscendEX itself. If you haven’t traded cryptocurrency before, it is recommended to buy or sell ASD coins using the platform itself. Other exchanges for investment include KuCoin, Gate.io, and WOO Network.
How many ASD tokens are in circulation?
As of February 02, 2022, the circulating supply of ASD tokens stands at 660,615,274.00 ASD, with a market capitalization of $164,190,486. The fully diluted market capitalization stands at $193,924,736, with the last 24-hour trading volume accounting for $2,380,886. The total supply is currently 780,615,274 ASD tokens.
Is ASD token secure?
The AscendEX token ASD is stable and secure. It uses a dynamic combination of hot and cold wallets deployed by its technical team to keep the ASD token safe in the wallet. The AscendEX token has also passed an audit check by slowmist.com in May 2021. Other than that, there isn’t enough technical news that covers the depth of how it works, but from the surface, ASD looks secure. Even the AscendEX acknowledges that there is no guarantee for 100% security. Multiple factors can result in unpredictable losses in the crypto market, and thus, ASD doesn’t make us feel that safe compared to the competition.
Is ASD a good investment?
ASD might not be a good investment. However, it may be a good idea to allocate a small capital portion to the ASD token in the long run. There isn’t enough media coverage for the AscendEX token ASD, and the company doesn’t seem to market itself heavily. It is focused on the core platform and not on the token, so there is not much possibility for growth. In addition, of course, there may be legal complications with crypto as it might face some regulatory hurdles in the future if the government decides to do something with it. Since ASD is not exactly decentralized like other cryptocurrencies and doesn’t operate similarly, we don’t see it as a safe investment. But it might turn out to be a profitable investment in the long run and generate a good return over 5 years.
What is ASD price prediction 2030?
As per our ASD price forecast, the minimum price, maximum price, the average price of ASD may be around $5.85, $6.93, and $6.17, respectively, by 2030. Invest in the ASD coin for the long term, and you may earn some great profits.
Source link: https://www.cryptonewsz.com/forecast/asd-price-prediction/