Is Aldrin Worth Investing in?
Aldrin is a decentralized exchange that launched in 2020. The project is the brainchild of Hisham Khan, who has a long career in finance and management experience. Aldrin is slowly getting popular with crypto enthusiasts and promises to make crypto trading hassle-free.
Let’s find out if Aldrin is really worth considering…
What is Aldrin?
Aldrin is a decentralized exchange. A decentralized exchange is a place where you can buy and sell cryptocurrency.
However, you don’t need to sign up or create an account. Additionally, you also don’t need to make any deposits.
Any trading happens between two sellers and their cryptocurrency wallets. A cryptocurrency wallet is a digital wallet where you can store cryptocurrencies. So, there is no third party to rely on or process the funds.
As a result, you can buy and sell crypto assets easily.
What is the RIN Token?
RIN is the native token of the Aldrin project. Token holders get several benefits, like having a say in the matters of the Aldrin project and they can also earn a share of the fees earned by Aldrin.
Aldrin created 50,000,000 RIN, out of which 20% is for the team. 29.6% of RIN is for funds to run the platform, and 18% is for the community that processes transactions.
Aldrin has also dedicated a percentage of tokens for marketing and offering liquidity. In simple words, liquidity means how easy it is to convert a crypto asset into another without affecting its value.
RIN Price Analysis
RIN token has a rank of 3,662 in the crypto world. Currently, the token is trading at $4.03 and has a market cap of $21,166,591. In the last 24 hours, the price of the token has come down by 8.10%.
The past week has been harsh on RIN, with a negative growth of -31.62%. However, there is a positive sign even if the prices are on a downturn trend: the trading volume of RIN in the last 24 hours has increased by 8.68% to $220,712.
Even now, the price is increasing by around 1% in the last hour of trading.
Additionally, RIN performed really well a few days back and it reached its record high of $6.29 just nine days ago. As a result, some people are hoping for the price of RIN to climb up.
Moreover, RIN recorded an increase of 2.6% in the last 14 days. It also posted very high growth of 167.2% in the past month.
Another factor that could also positively influence RIN’s price is the growth of Solana. Aldrin uses the Solana blockchain for its exchange and Solana is experiencing massive growth and could reach $175 soon.
We have many reasons to be optimistic about Aldrin; it aims to make the lives of crypto traders simple and could become widely adopted in the coming days. However, the prices can experience volatility just like other cryptocurrencies and involve risks. Therefore, as a rule of thumb, only ever invest as much as you can afford to lose.