Following a recent price jump, traders are watching to see if a surge in activity from smaller traders can challenge AUDIO's longer-term downward trend.
AUDIO has underperformed over the long term
Over the past year, AUDIO's price has fallen
↘71%
, in sharp contrast to the average
↗10%
gain for assets in the Ethereum Ecosystem. This underperformance was also seen in its daily trading volume, which recently declined by
↘47%
.
A recent price jump contrasts with the trend
In the last 16 hours, AUDIO's price increased by
↗6%
. This recent gain stands against its performance over the daily (
↘3%
), weekly (
↘10%
), and monthly (
↘27%
) periods.
Onchain data shows a surge in small trader activity
This price movement coincides with a notable increase in onchain activity from the prior day, with trading volume growing
↗93%
and new traders increasing by
↗143%
. However, this activity, which came from small and medium-sized wallets, occurred as more than 5.8 million tokens were moved out of the ecosystem.