November 14, 2019 there was a surge in activity in the trading of AERGO tokens. And if the beginning of the trading day took place in the usual manner for the last time and the price on small volumes fluctuated around $ 0.046- $ 0.048, then after the news from Binance came out, the price went up sharply.
The cost of tokens at the moment reached $ 0.0696 (growth was more than 40%). For the second half of the day, the price of the Aergo token fluctuated near the $ 0.066 mark.
It is worth noting a significant increase in trading volume. If the average volume of daily trading amounted to $ 1.8- $ 2.1 million last months, today this figure has grown to $ 15 million!
The trigger for such an increase in prices and trading volumes? The announcement appeared on the official website of the cryptocurrency exchange Binance.com:
Binance has announced a voting contest for listing a project on its exchange. The winner of the vote among the crypto community will receive the right to list on this exchange. Contest features and prizes for participants are discussed in more detail in our article “Aergo vs Cortex. Binance Community Coin Vote “
Binance is the leading cryptocurrency exchange in the world and even the possibility of listing any currency always causes great interest in it. Listing on Binance means a kind of quality mark, an element of community recognition. This gives the project additional fame, recognition in the world, additional liquidity, potential investors and partners.
After the publication of this news, the price of Aergo tokens instantly increased by 40%, the price of Cortex tokens – by 80%.
Voting will begin on November 21, 2019 at 4:00 a.m. (UTC), last 24 hours and end on November 22 at 4:00 a.m. (UTC).
The number of votes each user receives will be determined by his average 6-day (hourly snapshots) of BNB balances on his account from November 15, 2019 from 0:00 (UTC) to November 21, 2019 to 0:00 (UTC).
Voting will last until November 21, this could potentially support the prices of tokens of both AERGO and Cortex, become drivers of value growth.
This situation is especially relevant for Aergo tokens. The project is very promising, in the near future the main network (Protocol Mainnet 2.0) is expected to be updated, the Aergo team has taken part in several conferences around the world over the past couple of months, but despite this, the price has continued to decline. Today’s growth is a good bid to break the downtrend, which has been ongoing since April 2019.
The chart below shows a breakdown of the down trend up with increased trading volumes.
A similar situation has developed in the trading pair Aergo and Ethereum
For statements about the full reversal of the AERGO token trend, we need to wait for the end of the competition from the Binance exchange and evaluate the subsequent price movement vector.