On Monday, while the crypto market shaved off 1.27% overall, the digital token AVNT — tethered to the decentralized exchange Avantis running on Base — decided to strut in the opposite direction, rising more than 53%.
Avantis Token AVNT Rockets as Traders Flock to Base’s Perp Playground
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Native Token Tied to Avantis DEX Shoots Past $296M Market Cap
Essentially, Avantis is a decentralized exchange ( DEX) with a flair for perpetual futures, perched atop the Base blockchain — one of Ethereum’s layer two ( L2) playgrounds. Billed as Base’s heavyweight in derivatives, it hands traders the keys to a buffet of assets: crypto, forex, shiny metals like gold (XAU), commodities, indices, and, most recently, equities.
Now, as it cruises on the Base L2, market participants are drawing comparisons to Hyperliquid — a kindred DEX that launched with its very own layer one (L1) back in 2023. Basically, Avantis is gunning for the same leverage-trading action and has lately been clocking wins in user growth, exchange coverage, and whale accumulation.
Avantis branches into a wider mix of markets, while Hyperliquid sticks mostly to crypto spot and futures. The Base-based perp dex rolls out zero-fee trading and cranks leverage sky-high — up to 500x on crypto and a dizzying 1000x on forex. Its native token, AVNT, fuels the machine by powering protocol incentives, doling out trader rewards like rebates and staking yields, and unlocking premium perks such as boosted XP in trading contests.
By Monday afternoon, AVNT was cruising with a hefty double-digit climb, leaping 53.7% against the greenback. The token was changing hands at $1.23 per AVNT, giving it a market cap of roughly $296 million at 4:30 p.m. Eastern on Sept. 15. As it stands, that market cap plants AVNT in the 162nd slot among the tens of thousands of crypto assets tracked on coin market cap aggregation sites.
When stacked against Hyperliquid, Avantis’s trading volume still looks downright dwarfed in comparison. Moreover, AVNT’s market cap is a fraction of HYPE’s $17.8 billion — the native token tied to Hyperliquid. Avantis may be playing in Hyperliquid’s shadow for now, but its zero-fee trades, wild leverage, and shiny token perks hint at ambitions far bigger than its current rank. With whales sniffing around and traders chasing boosted XP, the project is carving a niche. Whether it matures into a titan or fizzles out remains an unfolding spectacle.
