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Aventus Slides 4.2% on Low Volume as Token Split Plans Shelved
The token split had previously been approved by community governance vote in December.
Updated May 9, 2023, 4:08 a.m. Published Feb 22, 2023, 1:53 p.m. 1 min read
Aventus (AVT), the native token of a blockchain service provider of the same name, has shed 4.2% to $1.22 Wednesday morning, with volatility spiking on minimal liquidity following a decision to pause a planned token split.
The move was met with disappointment among the community after a December governance vote voted in favor of the split.
"This does not mean that we will stop pursuing the token split – we are simply pausing for now and it is a priority of ours to revisit the token split in future," the company said in an announcement.
Although AVT trades on Coinbase, daily volume remains low at just $65,000, and market depth – a metric that assesses how much capital it would take to move an asset by a certain percentage – is minimal at around $3,000 per 2%.
The AVT token was issued in 2017 and hit a record high of $6.905 at the start of 2018. It currently has a market cap of $7.3 million, according to CoinMarketCap.
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