Bounce Token (AUCTION) has caught everyone’s attention with its record-breaking surge on the decentralized auction platform and governance protocol of Bounce Finance. The altcoin, which is also traded on the Binance cryptocurrency exchange, skyrocketed over 170% in a short period, reaching $17.19.
The trigger for the sharp rise in Bounce Token was a 14-second video shared on Bounce Finance’s official Twitter account with the caption “August.” The video emphasizes the auction for real-world collections in line with the project’s mission.
The mystery generated by the team’s video announcement and the mention of August created expectations of a significant development, leading to a sharp increase in the price of Bounce Token, which is used in the decentralized auction platform and governance of the DeFi protocol.
Following the project team’s announcement, the price of AUCTION, which is traded on major cryptocurrency exchanges like Binance, Coinbase, OKX, MEXC, Gate.io, as well as decentralized exchanges like SushiSwap, experienced a rapid increase within minutes.
According to CoinMarketCap, AUCTION is currently trading at $15.09, recording a remarkable 150.92% increase. Before the price correction, the altcoin surged over 170% to $17.19, accompanied by a significant increase in trading volume. Data shows that AUCTION’s trading volume has increased by an incredible 1,680% in the past 24 hours.
The data also reveals that the all-time high (ATH) for the altcoin was recorded on June 13, 2023, at $3.48. With its recent price surge, AUCTION has matched this record by reaching $17.19, which is over 370% higher than its ATH.