Don’t you just love listening to music? Yes, we all do! Well, here’s a crypto related to it. We are talking about Audio crypto. Music is one of the universal forms of expression and entertainment, yet the music industry is often plagued by inefficiencies, intermediaries, and unfair practices. As a result, artists need help to monetize their work, fans face limited access and choice, and service providers extract high fees and commissions.
So, is there a better way to stream music that benefits all parties? Enter audio crypto, the native token of Audius, a decentralized music streaming protocol that aims to empower artists, fans, and node operators. This article will explore the origins, profitability, price analysis, and future of this crypto.
Table of Contents
Origins
Audius was launched in 2018 by a team of experienced developers, entrepreneurs, and advisors who share a vision of creating a more open and inclusive music industry. Audius also leverages the Solana network for scalability and performance.
Audio crypto is the ERC-20 token that powers the Audius protocol. It has three main functions: securing the network, governing the protocol, and accessing exclusive features and content. Audio crypto has an initial total supply of 1 billion tokens and no maximum supply. The token distribution is as follows:
- 37% for community rewards
- 25% for teams and advisors
- 17% for investors
- 10% for foundation treasury
- 7% for user growth pool
- 4% for partnerships
Profitability
Audio crypto has been one of the best-performing tokens in the music sector, delivering impressive returns to its holders.
Audio crypto reached its all-time high of $4.99 on March 27, 2021, representing a staggering increase of over 6,000% from its launch price of $0.08. Since then, audio crypto has experienced some volatility and corrections but has also shown resilience and recovery. As of now, audio crypto is trading at $0.31, which is still a remarkable gain of over 280% from its launch price.
Price Analysis
Audio crypto has followed an overall uptrend since its inception, forming higher highs and higher lows on the weekly chart. However, audio crypto also faced some strong resistance at the $4-$5 level in March and April 2021, which led to a sharp decline in May and June 2021. Finally, audio crypto found support at the $0.2-$0.3 level in July and August 2021, which coincided with the 200-week moving average (WMA). It made an all-time high of $4.99 and now it is trading at $0.31.
Current Price Analysis
The current price stands at $0.31. It has a market cap of $309.4million with circulating supply of 997million tokens and trading volume of $47 million. Let’s look at the chart for further analysis:
On daily timeframe level the price action of $AUDIO is forming out Bearish harmonic Bat pattern level, where the price action bounced back from its Horizontal Support level and the D leg is yet to be complete out, while all the EMA shows the support levels.
Future
Audius has attracted over 5 million users and over 100 thousand artists, including famous names like Skrillex, deadmau5, Diplo, and Nas. In addition, Audius has also partnered with influential platforms like TikTok, Solana, Chainlink, Kyber Network, and Coinbase.
Audio crypto has a lot of room for growth, as it aims to capture a larger share of the $43 billion global music streaming market.
Audio crypto is not just another cryptocurrency. Instead, a decentralized music streaming protocol can revolutionize the music industry, making it more fair, transparent, and accessible for everyone. You can visit its official website, whitepaper, or social media channels to learn more about audio crypto. Or better yet, listen to some music on Audius and join the audio crypto community!
For any time, on-demand analysis on any other coin, you can join our Telegram channel.
The Wacky Verse of Fun Crypto: Exploring the Playful CoinAre Memecoins really Back ? Dogecoin and Shiba Powerful AnalysisScore Big with BAR: Exploring FC Barcelona’s Crypto Fan TokenFootball Fan Tokens: The Future of Fan Engagement in the Crypto World
