While both bitcoin and the broader crypto market is seeing a fresh wave of selling today, one little-known Canadian altcoin stood out from the rest of the market with double-digit returns over the past 24 hours.
As of press time on Wednesday (12:54 PM UTC), AION – the native asset of the blockchain platform known as The Open Application Network (OAN) – has seen a massive surge on the market, gaining about 59% over the past 24 hours, to a price of USD 0.22. The price is also up 51% in a week and 143% in a month. AION, ranked 75th by market capitalization, is also up 63% in a year.
According to the platform’s website, the OAN is an open-source public infrastructure for the creation and hosting of Open Apps (“programs that put users back in control and are universally accessible across platforms.”)
AION price chart:
In addition to the Binance-related news, however, a new listing announcement and airdrop from South Korean crypto exchange Bithumb also stands out as a possible driver behind the current rally.
Judging from today’s trading volumes, it appears that the AION price moves remain largely driven by trading on Binance, with more than 70% of the AION trading volume recorded on that exchange, according to data from Coinpaprika.