On Saturday, April 13, 2024, something happened that all fans of the Aergo Project, all participants in the ecosystem expected: the Price of Aergo tokens rose above $1 for the first time in the History.
Over the past 5 years, we have constantly witnessed questions from ordinary investors asked on our website, in official and unofficial groups in telegram channels, questions about when the price of Aergo tokens will reach $1?
Five years ago, members of our team even went to a special event on Red Square in Moscow with the assertion that the price would reach $1. We were completely sure then that such a day would come.
The previous all-time high was recorded a couple of years ago at around $0.5. Then we saw the price drop for many months. But we did not lose Faith. The Project is very promising and very undervalued by the market.
04/13/24 was a day when the general trend in the cryptocurrency market was negative, many assets fell by 10-15-20%. Aergo showed positive dynamics. By mid-day, the usual price levels of recent days around $0.17-0.2 gave way to higher levels. Many analysts predicted the nearest price rise. Technical indicators spoke for growth, but such rapid growth came as a surprise. Token prices exceeded $0.25, then reached $0.3.
This trend has been demonstrated across all cryptocurrency exchanges. At the same time, the general negative trend throughout the crypto market only grew. We witnessed geopolitical instability, the conflict between Iran and Israel grew that evening, which added strength to the bears, helped the prices of many assets to roll back, and to roll back after Bitcoin updated its historical maximum.
The most optimism for Aergo tokens occurred on the OKX exchange (https://www.okx.com). There the price was able to soar to $1.0809, almost doubling the historical record.
Then Aergo tokens began to roll back. In fact, the price lost all the gains of recent weeks and even went lower, which caused a wave of disappointment among Aergo lovers.
Some believe that it was an artificial pump and dump, some are happy about the second wind of the Project and the fact that we saw the possibility of explosive growth in the asset.
We try not to give in to emotions, but only to identify the facts.
Has the price risen to this level on all cryptocurrency exchanges? No. The price rose so high only on the OKX exchange. Was it realistic to sell the existing Aergo tokens at $1 per token? We believe that it would be difficult to guarantee a sale at that price. In reality, the situation made it possible to sell tokens at $0.25-0.3 during the day.
How reasonable is the price on the OKX exchange? Many investors know the Binance, Kucoin, Coinbase exchanges. In South Korea, where Aergo is popular, many people know the Upbit exchange. But how much weight does the OKX exchange have?
We open the cryptocurrency exchanges tab on one of the industry standards Coinmarketcap and see the OKX exchange in 4th place:
That is, the price level and liquidity on a given exchange can be considered a relatively reliable sample.
We believe that we do not have sufficient real facts to draw any conclusions about the factors due to which we have witnessed such rapid growth.
Often, after such testing and a rollback, pessimism and apathy can be observed among participants trading in an instrument. But, we believe that after BTC tests its ATH and the general market pullback, we will see a smooth rise in BTC. Other altcoins will follow it. Also, we believe that Aergo tokens will also digest the negative and return to $0.15-0.17, with overall positive market dynamics of $0.2. A new historical maximum will remain in the statistics for now on one of the exchanges.
In general, the situation will have a more positive overall impact on the trading sentiment for this asset. Many trading participants will consider the likelihood of rapid growth of an asset, simply a technical opportunity for growth.
We will continue to monitor the situation and update all concerned in a timely manner. Once again, please note that this information is not a trading recommendation to buy or sell an asset. It is always necessary to take a balanced and thoughtful approach to any trading operation on the stock exchange, especially during periods of instability and high volatility.