Aeternity (AE) Valuation Surges as Positive Developments Accumulate
Aeternity (AE) saw its dollar valuation surge throughout the early hours of Wednesday morning, as a week of positive developments appears to be paying off.
AE Spikes 20% Overnight
The AE token spiked in value by just over 20% early on Wednesday morning, rising from yesterday’s daily low of $1.07, up to a peak of $1.29 recorded at around 09:30 UTC.
The peak arrived just as eastern trading markets draw to a close for the day, and the eastern influence can be seen in AE’s daily trades, with over 50% of the movements coming on Gate.io, ZB.COM, and OKEx – exchanges which are all based in China.
Funnily enough, the predominant trade across those exchanges is not CNY (Chinese yen), but Tether (USDT), accounting for almost 60% of the daily AE trades in total. Volumes quadrupled from Tuesday into Wednesday, rising from $5 million to $20 million over twelve hours.
Aeternity had exhibited some of the same stability seen from Bitcoin over the last seven days, never once breaking from a tight range between $1.04 and $1.09. Today’s movement marks the culmination of a week of positive developments and partnerships which may have been enough to shift sentiment for Aeternity.
Aeternity & DSTOQ
Last week it was announced that the DSTOQ securities exchange has chosen to implement Aeternity’s blockchain technology in its trading platform. Specifically, DSTOQ appears to be looking to make use of Aeternity’s oracle system – a feature which updates blockchain services with real world data in a decentralized and incentivized manner.
Aeternity CEO and founder, Yanislav Malahov – former co-creator of Ethereum – shared his enthusiasm over the partnership:
“Together, æternity and DSTOQ share an enduring vision to bring blockchain to the masses. Our oracles are critical tools to provide investors with the real-world information they need to conduct everyday transactions.”
Meanwhile, co-founder of DSTOQ, Craig McGregor referred to the platform’s home-base in Lichtenstein – a tiny European country which is at the forefront of crypto and blockchain adoption:
“I look forward to working closely with the aeternity team for the most blockchain-friendly jurisdictions in the world, driving forward progressive regulation as evident in their newly proposed Blockchain Act”
“We seek to make capital markets more accessible to as many individuals as possible by removing the intermediaries who often create artificial barriers. With æternity, we are at the forefront of the blockchain revolution and are empowering communities to contribute and reap the rewards.”
AE Update and Java SDK
Meanwhile, this week also marked the release of the latest development report by the AE team, which details recent ‘Significant improvements to state channels, nodes and system stability’, more on which can be read here. The updates are expected to hit the testnet by the end of the week.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.