AscendEX price prediction: Mixed sentiment for exchange token

Long-term returns could be netted, but ASD forecasts remain fairly conservative for 2022

Various exchange tickers of major cryptocurrencies                                 
The AscendEX exchange hosts 300 trading pairs – Photo: Shutterstock
                                

Contents

What is AscendEX (ASD)?

ASD is the native token of the multi-faceted AscendEX cryptocurrency platform. The Romanian-registered, Singapore-headquartered enterprise provides spot and futures markets, with liquidity provided through the Market Making Incentive Program.

On 9 June 2022, Shane Molidor was appointed as chief executive officer, replacing founding member Gorge Cao, and the platform welcomed him aboard the following day on Twitter.

The platform’s Leveraged Tokens product is a derivative instrument using a form of compounding called dynamic rebalancing. AscendEX offers exclusive initial exchange offerings (IEOs), as well as staking and yield-farming opportunities for nearly 100 cryptocurrencies. Staked assets contribute to market liquidity and can generate annual percentage yield (APY) incentives for stakers.

On 16 June, AscendEX added a range of new leveraged tokens, including ADA, DOGE, DOT, EOS, GALA and LINK. Transaction fees on AscendEX range between 0.2% and 2%, while withdrawal fees are as high as 50% for minimum withdrawals.

ASD token utility

So what utility has AscendEX (ASD)? Holders of the ASD token can access a range of benefits. Transaction fee discounts on the AscendEX platform start at 10% for holders of 5,000 ASD. Discounts head as high as 80% for holders of 1.5 million ASD or more.

Staking ASD generates a cited 9.76% return (although readers should be aware that this is not a guaranteed rate). ASD holders can take part in limited-edition investment products, such as multiples, airdrops and IEOs.

ASD token metrics

The ASD cryptocurrency was changing hands at $0.127 as of 16 June 16:39 BST (UTC +1). The daily trading volume of $1.92m was equivalent to about 2.3% of the $84.05m market capitalisation. ASD has a total token supply of a little more than 780.6 million, of which just over 660.6 million is currently in circulation.

The initial supply at launch was one billion ASD. Since October 2017, AscendEX has conducted a deflationary strategy by removing supply on a continuous basis. Popular markets supporting ASD include the FTX, Gate.io and KuCoin centralised exchanges, and of course AscendEX’s own exchange.

In terms of price action, ASD trended in an unsurprising fashion throughout the first half of 2022. Having opened the year at $0.3294 ASD, it proceeded to downtrend in a consistent fashion. At the latest price reading, the token was 61.4% below the 1 January price.

ASD suffered a 10% fall in value between 11-13 June, when the broader markets had a particularly painful moment due to a major asset freeze on the Celsius lending platform.

Price prediction for 2022

TechNewsLeader has a target of $0.20 for the AscendEX price prediction for 2022. In comparison, the AscendEX price prediction at CrytoPredictions for the same year is slightly less bullish at $0.18.

DigitalCoinPrice remains cautious with its ASD price prediction, suggesting a 2022 target of $0.17. The forecaster is bearish for the moment; of 26 technical indicators used to make an assessment, 13 point to a sell strategy and three to a buy strategy, while 10 remain neutral.

Forecasts for 2025 and 2030

ASD could reach $0.61 in 2025, according to the TechNewsLeader AscendEX price prediction for 2025. The forecaster’s 2030 target is $3.83.

DigitalCoinPrice has a 2025 target of $0.24. The forecaster’s AscendEX price prediction for 2030 remains fairly cautious at $0.59. ASD will reach $0.25 by December 2025, according to CryptoPredictions.

AscendEX price prediction: Summary

Putting the estimates among three digital forecasters together, ASD has a chance of netting 44% returns by the end of 2022 for today’s buyers, while the average 2025 AscendEX coin price prediction suggests potential returns of 183.4%.

By 2030, ASD could net 1,805% for today’s investors, according to two AscendEX crypto price predictions.

Readers should be aware that any AscendEX price prediction featured in this article are speculative and subject to change. ASD could fall in value should market conditions prove unfavourable for the token. Always remember to conduct your own research before investing in volatile crypto assets.

FAQs

How many AscendEX are there?

ASD has a total token supply of precisely 780,615,274, of which there are 660,615,274 in circulation.

Is AscendEX a good investment?

The ASD forecasts are fairly conservative for 2022, although long-term gains could be expected. It is worth taking adverse market conditions into account. None of the AscendEX price predictions supplied by Currency.com are intended as financial advice.

Will AscendEX go up?

The online forecasters expect modest returns for ASD in the short and long term. These targets should not be misconstrued as genuine financial advice. Always do your own research before investing.

Should I invest in AscendEX?

You should make your own conclusions following a deep analysis of the project and only after receiving independent financial advice. If you do make an investment, never part with more money than you can afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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