Altcoin Trio Aurora (AOA), Augur (REP) and Ark (ARK) Soar to Double-Digit Gains
A trio of relatively small-cap altcoins hit double-digit growth for Thursday, Nov 22nd, amid a generally quiet day for the larger coins. Bitcoin remains anchored around the $4,500 position, while Ethereum has found a new home at $130 for the time being.
Aurora (AOA) Price
Aurora has a history of reliably volatile price movement, despite only being listed on a small handful of relatively minor exchanges. The Ethereum-based AOA token managed several major pumps in the last few months, despite low trade volumes and an apparent lack of liquidity.
From a starting price of $0.018701 late on Wednesday night, AOA climbed to a valuation of $0.024231 by Thursday evening. That’s a 29% price hike at a time when Bitcoin and most of the major altcoins are in stasis following the severe market drop of late.
The token’s $800,000 daily trade volume mainly comes from Kucoin’s AOA/BTC and AOA/ETH pairs, with the rest coming from Bitinka, CoinEgg and Indodax.
In absence of notable fundamental developments, one suspects the drop to 400 satoshis – the first time in six weeks – was enough to entice buyers back to AOA.
Augur (REP) Price
Often floated as a successful example of a blockchain use-case, Augur rose 18% for the twenty-four period leading up to Thursday night, rising from a token price of $8.61 up to $10.16.
The sudden run for REP also appears to be a technical play, and will likely dump before long. However it also coincides with the release of v1.8.1 of the Augur App, now available for download on Github, and detailed in the latest Augur weekly update.
Augur saw an increased flurry of activity in recent months, with daily transactions rising to $3 million worth of ETH. U.S political bets were placed prominently on Augur in the run up to the midterm elections, with users proving to be rather prescient in their predictions.
Ark (ARK) Price
Ark is gearing up for the release of its mainnet, Ark Core v2 on November 28th, and we may now be witnessing a pre-upgrade pump.
From a twenty-four hour low of $0.407834, ARK rose 28% in value up to $0.525384 on Thursday morning, before trailing off to the $0.485 range. That still puts Ark on close to 20% net gains for the day.
Over 80% of ARK’s $2.4 million trade volume came against BTC on Thursday, with close to 70% of that figure coming from Binance.
As per the latest blog update from the Ark team, the mainnet upgrade is expected to go ahead on Nov 28th, when:
“…we will break the champagne across the bow as the completely new vessel leaves dry dock and begins the voyage into the oceans of decentralization.”
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.
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