Aevo Burns 69 Million AEVO Tokens Worth $2.8 Million as Part of AGP-3 Plan
- Token Burn Initiative: Aevo has permanently withdrawn 69 million AEVO tokens from circulation as part of its AGP-3 plan, representing approximately $2.8 million or 6.9% of the total supply, aimed at symbolizing a new beginning and demonstrating commitment to preserving the token's value.
- Token Distribution Analysis: Data reveals that 71% of the total AEVO supply is held by the top 10 whale wallets, while the remaining 29% is distributed among other investors, indicating a concentration that may affect market liquidity and the long-term value of the token.
- Price Volatility Overview: The AEVO token reached an all-time high of $3.86 on March 28, 2024, but is currently priced approximately 98.9% below that peak, reflecting a significant decline in market confidence towards the token.
- Operational Context: Operating as a decentralized derivatives exchange, Aevo focuses on options, perpetual trading, and pre-launch trading, running on a custom Ethereum Layer 2 solution, which highlights its strategic positioning in the rapidly evolving cryptocurrency market.
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Technical Analysis for AEVO
Technical Sentiment Analysis for Aevo (AEVO) As of , Aevo (AEVO) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 0 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for AEVO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, AEVO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Aevo (AEVO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0182 | 0.0221 | 0.0259 | 0.0298 | 0.0336 | 0.0375 | 0.0413 |
| Fibonacci | 0.0221 | 0.025 | 0.0268 | 0.0298 | 0.0327 | 0.0345 | 0.0375 |
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