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Audius' AUDIO Token Skyrockets 70% in Hours, Here's Reason

Tue, 01/24/2023 - 15:23
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Tomiwabold Olajide
AUDIO trading volume shot up by 1,927% as traders jumped in
Audius' AUDIO Token Skyrockets 70% in Hours, Here's Reason
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AUDIO, the native token of the decentralized music streaming platform, suddenly surged more than 70% within hours. AUDIO token printed a massive green daily candlestick as its price jumped from a low of $0.20 to reach a high of $0.365 on Jan. 24.

At the time of publication, AUDIO was up 64% in the last 24 hours at $0.316. The token is up 68% on the week. Its trading volume also shot up by 1,927% as traders jumped into the recent volatility to capture profits.

Audius has steadily risen since the start of 2023. After seven straight days of positive price action, the price reached the $0.19 level on Jan. 14 before slightly retreating.

The rally picked up the pace once more on Jan. 22. Since then, Audius has closed each day in the green, with today's daily candlestick being the largest.

For the first time in months, the rise pushed Audius past the daily MA 200 barrier, which had constrained its price since April 2022. While the recent rally seems to be technically supported, a recent announcement by top U.S. crypto exchange Coinbase might also have propelled the AUDIO price.

Coinbase adds AUDIO to roadmap assets

Audius has officially been added to the listing roadmap for cryptocurrency exchange Coinbase, according to a recent release. The listing is expected to go live within the next few weeks, though the exact date has not yet been made public.

Coinbase only adds the cryptocurrencies that it plans to support shortly on its platform to its roadmap. However, the transfers and exchanges of these assets are not yet supported until an official listing is made.

Ripple Might Adopt Decentralized Identity, Here's What to Know About Its Web3 Idea

The decentralized Web3 music streaming service Audius, which has over seven million monthly listeners and over 250,000 artists, offers services to musicians who wish to share their most exclusive content with their followers. In July 2022, Audius announced a new feature for creators to monetize their content by allowing listeners to send tips to artists.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.