AscendEX Token

price
change

Discover AscendEX Token's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is AscendEX Token?

AscendEX Token (ASD) is a functional utility token native to the AscendEX platform, a global digital asset financial platform. ASD token holders are entitled to various benefits, including fee discounts, staking opportunities, and access to investment products. The token is used as a unit of exchange for services and operations on the platform, and its total supply is capped at 743 million tokens, with a significant portion already in circulation. ASD is designed to provide convenience and security as a mode of settlement and payment within the AscendEX ecosystem.

How is AscendEX Token used?

The AscendEX Token (ASD) is a functional utility token designed for use within the AscendEX platform, a global digital asset trading platform. ASD token holders can utilize the token for various services and operations offered by the platform, including spot, margin, and futures trading for over 200 blockchain projects. The token serves as a unit of exchange for participants on the network, providing convenience and security in settlements and payments between network participants. Additionally, holding ASD tokens entitles users to fee discounts on transactions within the network and staking opportunities.

How do I store AscendEX Token?

To store AscendEX Token (ASD) tokens, you have two primary options:

  1. Store on an Exchange: You can hold your ASD tokens in your KuCoin account. This provides quick access to trading products, such as spot and futures trading, staking, lending, and more. KuCoin serves as the custodian of your crypto assets, ensuring security and convenience.

  2. Non-Custodial Wallets: For enhanced security and control, you can withdraw your ASD tokens to a non-custodial wallet. This grants you complete control over your private keys. You can use hardware wallets, Web3 wallets, or paper wallets. However, this option may be less convenient if you wish to trade your ASD tokens frequently.

How to buy AscendEX Token?

To buy AscendEX Token (ASD) tokens, follow these steps:

  1. Create an Account:

    • Sign up on a centralized exchange like KuCoin or AscendEX (BitMax) using your email address, mobile phone number, and country of residence.
    • Create a strong password to secure your account.
  2. Secure Your Account:

    • Set up Google 2FA code, anti-phishing code, and trading password for stronger protection.
  3. Verify Your Account:

  • Verify your identity by entering personal information and uploading a valid Photo ID.
  1. Add a Payment Method:

    • Add a credit/debit card or bank account after verifying your account.
  2. Buy ASD:

    • Use a variety of payment options to buy ASD on the exchange. For example, on KuCoin, you can buy stablecoins like USDT and then transfer them to a trading account to purchase ASD.
  3. Choose Trading Pairs:

  • Select the desired ASD trading pairs, such as ASD/USDT, and complete the purchase using your chosen payment method.
  1. Monitor and Analyze:

    • Keep track of the live price of ASD and perform both fundamental and technical analysis before trading to assess your risk tolerance.
  2. Additional Options:

    • If you prefer to use PayPal, you can purchase ASD on another trusted platform and then transfer the funds to KuCoin to buy ASD on the KuCoin Spot Market.

By following these steps, you can easily buy and manage your ASD tokens on a centralized exchange.

Discover
AscendEX Token
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of AscendEX Token

The history of the AscendEX Token (ASD) is closely tied to the development of the AscendEX platform, a global digital asset trading platform founded by a group of Wall Street quantitative trading veterans in 2018. The platform focuses on efficiency, resilience, and transparency, offering a range of trading services across multiple products, including cash, margin, and futures trading.

The ASD token is a functional utility token native to AscendEX, providing various benefits to its holders. These benefits include higher VIP levels, lower transaction fees, and eligibility for daily rewards through staking and investment products. Additionally, ASD can be used for discounted margin interest and in AscendEX auctions.

In terms of its supply, the total supply of ASD was initially 1 billion but was reduced to 787,683,613 after the implementation of a new smart contract solution on October 23rd, 2019. This reduction was part of a deflationary mechanism, where half of the consumed ASD is permanently locked up, reducing the total supply over time.

The token has been supported on the Ethereum Mainnet and has seen fluctuations in its price over time. Historical data shows that the price of ASD has changed significantly, with both increases and decreases observed. The token's market capitalization and trading volume have also varied, reflecting the dynamic nature of the cryptocurrency market.

Overall, the history of ASD is marked by its integration into the AscendEX ecosystem, providing utility and benefits to its holders, and its ongoing evolution in the cryptocurrency market.

Discover
AscendEX Token
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How AscendEX Token works

The AscendEX Token (ASD) is a functional utility token native to the AscendEX digital asset trading platform. It was designed to provide various benefits and services to its holders within the platform. Here’s how it works:

Key Features
  • Utility Token: ASD is a non-refundable functional utility token, primarily used as an exchange unit for participants on the network. It offers convenience and security as a mode of settlement and payment between network participants.
  • Staking: ASD token holders can participate in staking, which allows them to earn additional tokens (yield) on their holdings. This process involves locking up tokens to support the validation of transactions on the blockchain, ensuring the network’s security and stability.
  • Discounts and Incentives: Holding ASD tokens entitles users to fee discounts on transactions within the network and staking opportunities, providing an economic incentive for active participants.
  • Security: ASD tokens follow the security protocols of the Ethereum blockchain, ensuring the protection of transactions and the network through a proof-of-stake consensus algorithm.
Circulation and Supply
  • Total Supply: The total supply of ASD tokens is capped at 743,000,000, with a significant portion already in circulation (740,000,000).
  • Circulation: The token is almost completely circulated, indicating widespread adoption and use within the AscendEX ecosystem.
Trading and Wallet Support
  • Trading: ASD tokens can be purchased on various cryptocurrency trading platforms, including the AscendEX platform itself.
  • Wallet Support: The PTPWallet platform supports ASD tokens, offering a simple and interactive interface for users to manage their ASD holdings.
Additional Services
  • AscendEX Earn: The platform offers various earn programs, including staking, DeFi yield farming, liquidity mining, lending and borrowing, project promotional, and AscendEX promotional earn products. These programs allow users to earn additional tokens on their holdings, providing a low-risk earning opportunity.

Overall, the ASD token plays a crucial role in the AscendEX ecosystem, facilitating transactions, staking, and earning opportunities for its users.

Discover
AscendEX Token
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

AscendEX Token's strengths

The AscendEX Token (ASD) has several strengths that contribute to its value and utility within the AscendEX ecosystem. Some of the key strengths include:

  • Convenience and Security: ASD is designed to provide a convenient and secure mode of settlement and payment between network participants, ensuring smooth transactions within the platform.
  • Economic Incentives: ASD serves as an economic incentive for specific participants on the network, encouraging active engagement and fostering a robust community.
  • Fee Discounts: Holding ASD tokens grants users fee discounts on transactions within the network, making it a valuable asset for frequent traders.
  • Staking Opportunities: ASD holders can participate in staking, which offers additional revenue streams and enhances the overall user experience.
  • Native Token: ASD is the native token of the AscendEX trading platform, which supports over 200 trading pairs across cash, margin, and futures products, providing users with a comprehensive range of trading tools.
  • VIP Status and Discounts: ASD holders can benefit from VIP status and significant margin trading interest discounts, further enhancing their trading experience.

These strengths collectively contribute to the value and utility of the AscendEX Token, making it an attractive asset for users within the AscendEX ecosystem.

AscendEX Token's risks

AscendEX Token (ASD) is a cryptocurrency token issued by the AscendEX platform. The financial risks associated with ASD are primarily related to its use in various trading activities on the platform. Here are some key risks:

  1. Market Volatility: ASD's value can fluctuate significantly due to changes in market conditions, liquidity, and trading dynamics. This volatility can result in substantial losses if not managed properly.

  2. Leverage Risks: ASD can be used to trade leveraged tokens, which amplify returns but also increase potential losses. Incorrect trend predictions can lead to significant losses, especially in extreme market conditions.

  3. Margin and Liquidation Risks: When trading futures on AscendEX, users must maintain a certain margin to avoid forced liquidation. If the account's margin ratio falls below the maintenance margin rate, the platform may initiate forced liquidation, potentially resulting in losses.

  1. Insurance Fund Risks: While the insurance fund is designed to cover losses from forced liquidation, it is not a guarantee against all losses. Users still bear the risk of negative equity if the insurance fund is depleted.

  2. Security Risks: ASD, like other digital assets, is susceptible to security breaches and hacking. AscendEX employs a dual wallet mechanism to minimize these risks, but users must still be cautious.

  3. Regulatory Risks: Cryptocurrencies are subject to changing regulatory environments, which can impact the value and usability of ASD. Users must stay informed about regulatory developments that may affect ASD.

  1. Management Fee Risks: ASD holders may be subject to management fees, which can reduce the net value of their holdings over time.

  2. Risk of Incorrect Trend Predictions: Leveraged tokens, which can be traded using ASD, are sensitive to market trends. Incorrect predictions can result in significant losses, especially if the market moves against the user's position.

It is essential for users to fully understand these risks and take necessary precautions to manage them effectively when trading with ASD.

Discover
AscendEX Token
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did AscendEX Token raise funds?

Discover
AscendEX Token
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe
Discover
AscendEX Token
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

AscendEX Token’s team

  • George Cao: CEO of AscendEX, involved in close collaboration with law enforcement agencies like the FBI and blockchain forensic firms.

Whalee AI

The fundamental analysis assistant for crypto value investors.

AscendEX Token NEWS REPORT

Latest news

Want an analysis of AscendEX Token? Tell us on discord.

Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM