Aventus (AVT/USD) has declined by about 4% after Aventus blockchain announced shelving an earlier decision to split its native token AVT. The main reason behind the price drop is reportedly a spike in volatility on minimal liquidity after the decision to pause the split.
The move disappointed the Aventus community after the proposal was passed through a community governance vote in December last year.
The token split could happen at a later date
Acknowledging the disappointment from the community Aventus assured its community that the move does not mean it will not pursue the token split. In an announcement, the firm said:
“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.”
AVT daily volume remains low
AVT’s daily trading volume remains low despite the fact that it trades on Coinbase. At press time, its daily volume was about $65,256, having gone up by about 32% in the past 24 hours.
In addition, the token’s market depth, a metric used to assess how much capital it would take to move an asset by a certain percentage, was around $3,000 per 2%, which is quite minimal.
The AVT token was issued in 2017 and it hit an all-time high of $6.9 in 2018 before nose-diving to the current market price with the ongoing crypto winter.