Audius (AUDIO) Rallies 10% Despite Market Slump: Details

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AUDIO, the native token of decen­tral­ized music stream­ing plat­form Audius, seems to be defy­ing the recent mar­ket slump as it rose near­ly 10% on March 28. Audius rose from lows of $0.262 to reach intra­day highs of $0.293.

At the time of writ­ing, AUDIO was up 7.35% in the last 24 hours to $0.288. This is sig­nif­i­cant as the major­i­ty of cryp­to assets suf­fered loss­es in the last 24 hours in the wake of the Binance CFTC com­plaint. The 24-hour trad­ing vol­ume also shot up 356% as traders jumped into the recent volatility.

The actu­al rea­son for the rise remains unknown as a scroll through the offi­cial Twit­ter han­dle of the Audius plat­form does not hint at any offi­cial announce­ment that could sup­port a rise.

How­ev­er, at the start of March, Audius announced it was imple­ment­ing a non-fun­gi­ble token (NFT) gat­ing fea­ture intend­ed to allow artists to release exclu­sive con­tent to NFT holders.

 

The util­i­ty derived from the use of this fea­ture might be a pos­i­tive fun­da­men­tal boost for the Audius blockchain.

$161 million worth in crypto liquidations as Bitcoin and altcoins sustain losses

In the last 24 hours, Coin­glass reports $161 mil­lion worth of cryp­to assets have been liq­ui­dat­ed as Bit­coin and alt­coins suf­fer loss­es in the wake of a CFTC com­plaint against Binance and its CEO.

Many cryp­to advo­cates view the action by the U.S. agency as just the lat­est assault on the sec­tor by glob­al regulators.

Binance Chief Exec­u­tive Offi­cer Chang­peng “CZ” Zhao has down­played alle­ga­tions of wrong­do­ing in the past. CZ recent­ly took to Twit­ter flash­ing the num­ber four, which he uses to denote what he believes is neg­a­tive or FUD that should be ignored by the cryp­to community.

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