Peter Thiel-Backed Avantis ($AVNT) Soars 77% on Binance and Coinbase Listings, $10M Airdrop

Core Insights - The cryptocurrency token Avantis (AVNT), backed by billionaire investor Peter Thiel, has surged as much as 77% over the past week due to major exchange listings and a high-profile airdrop campaign [1][6] Exchange Listings - The surge in AVNT's price was triggered by simultaneous listings on major exchanges including Binance, Coinbase, Upbit, Bithumb, and Crypto.com, resulting in billions in trading volume [2] - The token has experienced a nearly 400% increase since its launch on September 9 [2] Airdrop Campaign - A $10 million airdrop, representing approximately 12.5% of the total token supply, was fully unlocked, providing early adopters with immediate liquidity [3] - This strategy differentiated Avantis from competitors, as many projects typically lock rewards for extended periods, thus accelerating retail participation and speculative interest shortly after launch [3] Price Movements - AVNT reached an all-time high of $2.66 on September 22 but has since decreased to $2.05 at the time of reporting [4][6] - Analysts noted bearish divergences in the Relative Strength Index and Moving Average Convergence/Divergence, suggesting potential further declines [4]