AirSwap (AST) surges 20% as altcoins tap upside momentum

AirSwap (AST) is among the cryptocurrencies to see significant upside amid growing trader confidence in the market.

The AST token rose by more than 20% on Friday morning to reach levels last seen in late July.

By breaking above $0.09, AST showed recovery from the lows of $0.06 reached during the broader crypto sell-off on Aug. 5. This is the period when massive selling pressure from the German government, Mt. Gox and Genesis combined with the crash in stock markets amid economic jitters to send Bitcoin (BTC) plummeting below $50k.

The flagship cryptocurrency has since recovered to above $61k and most altcoins have experienced a similar surge.

AirSwap token up 40% in a week

AST, the native token of the peer-to-peer decentralized exchange AirSwap, has seen a notable spike of its own, rising since the $0.06 low in early August. The sharp increase in the token’s value suggests further upward momentum may elevate bulls above the $0.1 mark.

AirSwap token price chart

Currently, AirSwap price is up 40% this past week and trades nearly 6% in the green over the 30-day period. The rising market activity is observable in the 24-hour volume, which has increased by 195% to over $5.5 million.

Despite the substantial gains over the past month, AST price remains more than 90% down from its all-time high above $1.85 reached in 2018.

Retro Bridge support

AirSwap’s latest upside coincided with the non-custodial, P2P platform’s latest integration.

On Aug. 22, Retro Bridge, a cross-chain bridging solution offering multichain connectivity and asset transfer capability, announced Dapp explorer listing for AirSwap.

AirSwap joins Ethereum, Polygon zkEVM, Solana, Tron, Starknet, ZKsync Era, Blast, Taiko, Linea, Optimism and Scroll among popular networks on the RetroBridge Dapp explorer.

AirSwap’s trading technology allows for atomic swaps, leveraging a trustless environment to power major trades in the peer-to-peer market. The DEX platform runs on Ethereum and has powered some of the biggest over-the-counter, or OTC, trades. In a recent post on X, the AirSwap team noted its record OTC transaction was worth $30 million.

AST token use

The AST token is key in AirSwap’s product setup, which includes the decentralized exchange (DEX), non-fungible token (NFT) and decentralized autonomous organization (DAO) protocols.

AST offers utility in market making and governance.

When activity spikes as has in the past few days, the impact is a surge in demand and price gains. An Ethereum-based DEX that offers efficient swaps and no slippage, AirSwap has powered over $4.31 billion in trade volume and 2.25 million swaps.

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