AxonDAO, a health-based decentralized ecosystem, recorded an incredible 106.02% growth in just 7 days, and the community now expect its coin AXGT to break its previous ATH soon.
The one-week surge didn’t stop, and it climbed another 12.82% in 24 hours. This article will get into the reasons behind the uptrend, and analyse what will happen to the coin in the near future. Also, we will check whether it is a credible investment option or not. Let’s begin.
What’s Behind This Surge?
There are multiple reasons behind AXGT’s recent uptrend, and here are some of the most important ones:
- The Whole Market Scenario: The crypto market as a whole is booming. As Bitcoin reaches its all-time high, it is time for altcoins to show their strength. Like the interest in meme coins, various institutional investors were also interested in expanding their portfolio to promising niches like decentralized science.
- AxonDAO’s Recent Performance: AxonDAO has been focused on developing new protocols and gathering a community around it. After COVID-19, remote healthcare evolved into a mainstream health practice, and this created a huge demand for advanced remote technologies. AxonDAO came at the right time with various functions like voice biomarkers where the patients can monitor their health remotely via their smartphones.
- AxonDAO’s Roadmap: The promising roadmap is the primary reason that attracted long-term investors. Its roadmap contains important study areas that can contribute worthy insights to the medical field: Standardizations of Microdosing, PTSD for Public First Responders and Veterans, Biometric study in Dementia, and Alzheimer’s, Ultra Sound Therapies, Clinical Trials for Psychedelic Therapy sessions for PTSD, Postpartum, and other ailments.
Insights From AXGT’s Historical Data
The launch price of the token was $.00557 (February 13, 2024), and it surged almost to $1 within a month, hitting an all-time high of $0.9829 on March 18, 2024. After this incredible uptrend, the coin started to fade down, reaching around $0.08 in August 2024.
The recent surge again ignited hope in long-term hodlers, and they expect it to achieve the milestone of $1 soon. However, it is -55.28% down from its all-time high, and has a long way to go.
What is AxonDAO?
Axon started its journey in 2014 as a startup that focused on developing software for hospitals. Its telemedicine system allowed health care to organize data of patients in a sophisticated way. While in the outbreak of COVID-19, Axon transformed into a leading clinical data provider, and in 2021, it reinvented itself into a Decentralized Autonomous Organization (DAO).
The ecosystem’s foundational token is $AXGT, designed to govern, support, and build DeSci (Decentralized Science) projects. Users who hold the tokens can vote, access exclusive functions, and join all the projects.
AxonDAO AXGT Token Allocation Details
Around 49% of AXGT is locked in the multi-sig wallet, and 12% had been sold through the pre-sale event. 15% is allocated to the AxonDAO admin. 4% is for the liquidity pools. On-chain data shows that the individual allocations than the multi-sig reserve have no holders with more than 1% coins. This itself ensures its decentralization. Let’s get into other basic details of the coin.
| Token Ticker | $AXGT |
| Chains | Ethereum ERC-20, Base, Arbitrum |
| Primary Contract Address | 0xDd66781D0E9a08D4FBb5eC7BAc80B691BE27F21D |
| Total Supply | 1 Billion AXGT |
| Circulating Supply | 178.39 Million AXGT |
| Market Cap | $74.72 Million |
| No. of Hodlers | 20,542 |
| No. of Transactions | 177,166 (On-Chain Data) |
| Release Date | Oct 21, 2023 |
How Can I Purchase AxonDAO?
AxonDAO is not yet listed in any prominent centralized exchanges. However, you can purchase it via its official website and trade through decentralized exchanges like UniSwap. WETH/AXGT and ORAI/AXGT pairs are available in Uniswap v3 (Ethereum).
Conclusion: Is AxonDAO a Good Investment Option?
With 1346 votes, AXGT has 95% bullish support in CMC, signifying a positive community sentiment. This assures its short-term profit. As all experienced traders have witnessed, long-term trading will be prone to multiple volatile situations. After the huge volume of transactions in March 2024, the activity declined for 7 months, and this can reoccur anytime.
AxonDAO has the potential to grow as one of the most valuable health-based blockchain platforms if it continues to build its groundbreaking initiatives through revolutionary approaches. Additionally, it should build a community and culture around the ecosystem to attract the masses. If all these go well, we can see huge upward momentum in the future.
AxonDAO’s recent surge and its use cases assure that it is a good investment option. However, doing your own research before investing is mandatory as you are dealing with cryptocurrencies, the most volatile assets in the contemporary trading ecosystem. At the time of writing this, AXGT is trading at around $0.4269 per coin.