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.

ASD Overview

Cryptocurrency ASD
Ticker Symbol ASD
Price $0.1524
Price Change 24h +0.06%
Price Change 7d -1.13%
Market cap $98,592,381
Circulating Supply 660,615,274 ASD
Trading Volume $2,061,511
All time high $3.26
All time low $0.01411
ASD ROI +865.14%

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.

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.