Rise and Fall of Auction Coin (AUCTION)
Auction Coin, rebranded as Bounce Token (AUCTION) in 2020, was launched to power decentralized auctions for tokens and NFTs on Ethereum.
Rise (2021):
AUCTION gained traction during the DeFi and NFT boom, hitting an all-time high of $71 in April 2021 due to increased usage, hype, and innovative auction formats.
Fall (2021–2023):
The price dropped sharply due to high Ethereum gas fees, market downturns, and rising competition. By June 2023, it hit a low of $3.55.
Recovery & Current Status (2024–2025):
AUCTION saw a brief rebound to $53.62 in early 2025 after new updates were announced. As of April 2025, it trades around $12.41.
Key Challenges:
High gas fees
Strong competition
Regulatory uncertainty
Limited long-term user retention
Lesson: Sustaining DeFi projects needs scalability, real-world utility, and continuous innovation.
