Aeron (ARN) broke the $1 barrier at the beginning of 2018 and rallied on Friday and Saturday to a high of over $9 before some buyers took profits, and it settled in at just under $4 today. The case of ARN is following the script of other underrated coins exploding, and it has a lot to do with its utility, rather than a bunch of hype.
How did ARN skyrocket by over 300% in just a few days, just a few months after it was launched by Artem Orange in October 2017, calling for a higher price than leading cryptocurrencies like Stellar, Ripple, Tron and Cardano? With just $52 million in market cap, it’s not quite in the top 100 list, making us wonder if it’s a sleeping giant.
It appears that news that Aeron has launched a smartphone application to assist aviators improve safety standards is responsible for the price surge. Unlike most ICO’s, they have an actual use-case, and a working application. Aeron also announced a decision to burn all remaining tokens on 27th November 2017 to reduce the amount of Aeron (ARN) tokens from 100 million ARN to 20 million ARN.
Aeron will use the Blockchain technology to replace obsolete paper records is something the entire aviation industry has been waiting for. According to Aeron, the app brings an electronic logging system that will enable pilots to have online verifiable logs that will reduce the average 3300 annual aviation accidents blamed on human error.
Aeron believes that the blockchain technology will address aviation safety issues once their app gets global acceptance. It will create a single reference point for operators, plane owners, pilots and aviation enthusiasts that bring reliability, integrity and transparent record keeping that will bring permanent safety in aviation. According to its makers, the app also eliminates the chances of forgery, loss or distortion of vital log data related to fatal accidents.
The ARN coin has recorded the highest growth peak so far for January, at over 1000%. Will it go higher? Perhaps. Certainly its explosive growth will attract investor attention and could possibly translate to major growth in market. The use-case solves real-world problems in the aviation sector. To put this into context, the airline industry is expected to produce $824 billion in revenue in 2018. Imagine if Aeron is shown to reduce airline accidents. Companies that adopt this technology will capture more marketshare, and as they advertise that this is one of the benefits they offer to their customers, Aeron will continue to grow organically.
If Aeron maintains rallies again past the $10 mark, it’s possible that it could hit $50 by the end of 2018. When comparing ARN to other more popular crypto like Cardano, Tron and Ripple, focus on its use-case, and working product. In addition, as they develop partnerships with airlines, the real product that they sell will no doubt translate into overall growth for the company and this in turn may help with its value on the cryptocurrency exchanges.