|All Time High:|
|Market Cap: |
|The price of #AVAX today is $14.58 USD.|
The lowest AVAX price for this period was $0, the highest was $14.58, and the current live price for one AVAX coin is $14.58059.
The all-time high AVAX coin price was $146.
Use our custom price calculator to see the hypothetical price of AVAX with market cap of ETH or other crypto coins.
|The code for Avalanche is #AVAX. |
Avalanche is 2.7 years old.
|The current market capitalization for Avalanche is $5,027,246,349.|
Avalanche is ranked #17, by market cap (and other factors).
|There is a very large volume of trading today on #AVAX.|
Today's 24-hour trading volume across all exchanges for Avalanche is $143,835,803.
|The circulating supply of AVAX is 344,790,414 coins, which is 48% of the maximum coin supply.|
|AVAX is the native coin for the Avalanche blockchain.|
View the full list of Avalanche blockchain tokens.
|AVAX is well integrated with many pairings with other cryptocurrencies and is listed on at least 77 crypto exchanges.|
View #AVAX trading pairs and crypto exchanges that currently support #AVAX purchase.
Snickerdoodle Labs to Launch Consent Layer on Avalanche, Creating More Equitable Relationships…
Snickerdoodle Labs to Launch Consent Layer on Avalanche, Creating More Equitable Relationships Between People, Brands & Data - The Snickerdoodle Marketing Platform and Data Wallet represent a necessary upgrade from the Web2 model, benefiting brands and empowering everyday people to get rewarded for their data. Snickerdoodle Labs, a transformational data company with a decentralized Marketing Platform and associated Data Wallet, is building its consent layer on Avalanche. This consent layer records on-chain customer consent for brands to use insights generated from customers’ anonymized data. The result: brands can access richer data troves, while everyday people can get rewarded for sharing their anonymized data with brands. The consent layer is a big step toward the full launch of Snickerdoodle’s Marketing Platform and Data Wallet, which together give brands powerful tools for monetizing data and rewarding customers for sharing their anonymized data. The new customer-brand data economy that Snickerdoodle creates embodies the open, equitable, user-first spirit of Web3 and marks a necessary upgrade from centralized and less private Web2 data sharing models. The Snickerdoodle Data Wallet, which is in private beta, empowers everyday people by giving them back their privacy and data sovereignty, while unlocking new opportunities to allow them to generate value from their data. The Snickerdoodle Marketing Platform also...
Merit Circle DAO to Launch Gaming Subnet with Tooling, Three Games, and Many More to Come
The Subnet, Beam, will streamline game deployment for developers — and aim to shape the future of Web3 gaming. Merit Circle DAO, a gaming DAOs with 60+ partner games, will launch Beam, an Avalanche Subnet tailored specifically to Web3 gaming development and gameplay. At or shortly after launch, Beam will offer existing Merit Circle products plus extensive new gaming-focused tooling, an NFT marketplace (Sphere), and three new games. Merit Circle plans for Beam to support dozens of Avalanche games. Beam will be an independent, sovereign network catering to the range of gamers and game developers. Three of the first games slated for release on Beam are Trial Xtreme, Walker World, and Hash Rush. Trial Xtreme is a thrilling racing game with 250M+ worldwide downloads. The flagship offering from the acclaimed Gameplay Galaxy, a studio aiming to develop a decentralized competitive gaming ecosystem, will launch down the road on Beam. Powered by Unreal Engine 5, Walker World is a massive interoperable open-world experience where players and creators come together to own and build on their land, cooperate in heated game modes, and explore a vast universe filled with shared rewards. Hash Rush, a pioneering Web3 MMORTS game, where players can explore the vastness of the Hermeian Galaxy. Gamers can build a base, marshall resources, enhance their strategies by recruiting heroes, and attempt to defeat enemies in epic battles. In ad...
Financial Institutions Join Avalanche Evergreen Subnet, ‘Spruce’, to Drive On-Chain Finance…
Financial Institutions Join Avalanche Evergreen Subnet, ‘Spruce’, to Drive On-Chain Finance Innovation - Initial institutional partners include T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland. The Evergreen Subnet, “Spruce,” has been launched with an initial cohort of institutional partners that includes T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland. Participating institutions will be using Spruce as a testnet for a variety of applications and assets to measure the benefits of on-chain trade execution and settlement.“Participating in the Avalanche Spruce testnet presents a valuable opportunity to deepen our understanding and analysis of smart contract technology and the potential applications of public, permissioned blockchains in financial markets,” said Blue Macellari, Head of Digital Assets Strategy, T. Rowe Price Associates. The Spruce testnet is meant to enable buy- and sell-side institutions to engage with public blockchain infrastructure in a low-risk, low barrier-to-entry manner. Using valueless tokens allows institutional participants to experience the full functionality of Avalanche’s Subnet architecture without putting capital at risk. Institutional partners will use DeFi applications on Spruce to execute foreign exchange (FX) and interest rate swaps, with other areas in active research and development. Future phases of Spruce will welcome addi...
Moongate to Drive “Phygital” Experience with Dynamic Avalanche NFTs
Moongate’s NFTs allow event attendees to unlock or earn upgradable rewards and access based on real-life interactions. Moongate, a platform aiming to revolutionize ticketing and membership by creating engaging, gamified, and immersive experiences through the use of dynamic NFTs, will be designing NFT campaigns for Avalanche developer Ava Labs. Moongate focuses on the “phygital,” meaning experiences giving the digital new dimensions of value in the physical world. How exactly do Moongate NFTs shoot to drive further engagement? Moongate’s NFTs allow event attendees to unlock or earn upgradable rewards and access based on real-life interactions. Moongate offers a no-code solution for businesses to easily create these NFTs and weave them in their events and other operations. Moongate’s end-to-end platform is tailored to users of all crypto knowledge levels, from OG to relative newbie. Key features include email/social-based self-custodial wallets, support for cash payments, and tools to facilitate IRL integration. The platform also prioritizes post-NFT-minting management, opening the door to creative and engagement possibilities beyond those of Web2 ticketing and membership platforms. With Moongate’s easy end-to-end solution and Avalanche’s speed, security, and reliability, the integration will enable businesses to launch NFT campaigns that drive engagement while providing a richer, more efficient ticketing and memb...
Avalanche Launches ‘Evergreen’ Subnets for Institutional Blockchain Deployments
Evergreen Subnets have the scale of public blockchains, with the security and control of private blockchains Ava Labs has announced the launch of Avalanche Evergreen Subnets, a suite of institutional blockchain deployments, customizations, and tooling designed to address company-specific and industry-wide requirements for financial services. Crucially, Evergreen Subnets maintain the benefits of public network development while enabling particular features historically only possible within enterprise solutions.“Thus far, financial institutions’ enterprise blockchain applications have been hindered by a walled-garden approach that, among other things, restricts liquidity and interoperability from initiative to initiative,” said Morgan Krupetsky, Director of Business Development for Institutions and Capital Markets, Ava Labs. “However, there continues to be a significant need for customization and control, particularly among institutional use cases. The Avalanche network ultimately offers a perfect synthesis of the strengths of public and private blockchains, which is why we’re so thrilled to debut Avalanche Evergreen.” Institutions are easily able to launch their own Evergreen Subnets for either research and development purposes or production-ready use cases as they continue exploring blockchain benefits around process efficiencies, transparency, composability, asset tokenization, and more. With Evergreen Subnets, in...
Gunzilla Launches AAA Shooter on an Avalanche Subnet
Gunzilla Games has partnered with Avalanche to build the first-ever Gaming Layer 1 Blockchain built by game developers for game developers. Gunzilla Games, an independent AAA game studio, announced today the launch of GUNZ, an innovative and sustainable blockchain-based digital economy platform fully built on an Avalanche Subnet. This Subnet has been customized to enable seamless gameplay, utilize only in-game tokens for gas fees, and provide an intuitive, rewarding user experience for both Web3 and traditional gamers. Other gaming studios will be able to leverage the GUNZ SDK and white-label components, such as a built-in companion app, marketplace, and NFT minting engine, to build and launch their own projects on GUNZ. Designed with the gaming community and blockchain enthusiasts in mind, GUNZ aims to give players the option to get involved in Play-to-Own mechanics by offering verifiable transparency. The platform will be first integrated into Gunzilla Games’ upcoming Battle Royale 2.0 game, Off The Grid (OTG). OTG aims to revolutionize the Battle Royale genre by emphasizing storytelling and digital ownership, allowing players to influence both gameplay and narrative through their in-game decisions. GUNZ strives to be one of the first player-friendly crypto-economies in a AAA game, aiming to empower players by granting them complete ownership over their in-game items in the form of NFTs. More projects building on GUNZ w...
SK Planet Announces UPTN, South Korea’s Long-Awaited Web3 Ecosystem Built on Avalanche
UPTN to be Integrated with the Largest Loyalty Program in South Korea using the Avalanche Protocol. SK Planet, one of South Korea’s largest information and communications technology platforms, will be launching a dedicated Avalanche Subnet, UPTN, which will act as a Web3 portal for SK Planet’s millions of users. The UPTN Subnet will serve as a foundation for digital collectibles, Web3 wallets, decentralized communities, and much more.“Ava Labs is fully committed to supporting South Korea’s buyers and merchants as they explore the unique benefits of the Avalanche ecosystem,” said Emin Gün Sirer, CEO, Ava Labs. “We see this new partnership between Ava Labs, the Avalanche Foundation, and SK Planet as an incredible opportunity to not only meet South Korea’s enormous appetite for Web3 experiences, but expand what’s possible in 21st century e-commerce.” UPTN will be integrated into SK Planet’s many popular services and apps, such as OKcashbag (OCB). OCB is the largest e-commerce loyalty program in Korea, membership of which comprises almost half of the South Korean population. OCB’s community will gain access to NFTs, unique community features, and dynamic membership benefits powered by the Avalanche protocol. Ava Labs has been active in South Korea’s critical Web3 market for years, and the Avalanche blockchain’s explosive growth in the region has been fueled by partnerships — such as with SK Planet...
Developer Spotlight: Jomari Peterson Says His Biggest dApp is Yet to Come
“As a dev, you want to be prepared not only for where things are, but where they’re going.” Developer Jomari Peterson has been building the future on Avalanche since its early days. He tends to juggle projects, like a lending platform, an auto-compounder, and a privacy-preserving protocol (to name a few), but Jomari believes his next dApp could be his biggest yet — and take DeFi to the mainstream with it. Jomari first tried Avalanche after hearing about Pangolin. “I saw that it was proof-of-stake and was incredibly fast,” he said. “I said ‘oh snap, this is exactly what I’ve wanted to build on. This might just be the place for me.’” Reflecting back from today, after countless hours developing on Avalanche, he knows his first instinct was right.“As a dev, you want to be prepared not only for where things are, but where they’re going,” he said. “With Avalanche, you can be a first mover and launch a Rust or WASM VM to leverage the tooling from the platform. Whatever your tooling purposes, you can bring them to Avalanche and maximize your efficiency and effectiveness. That’s very valuable for developers.” In Jomari’s experience, Avalanche can flex to his preferences and evolve as the goals of a project adapt to the long-term development of Web3. Couple that toolkit with Avalanche’s reliability, “academic rigor” underpinning the network, the ability of Ava Labs to “execute and supp...
The Avalanche Foundation Launches Avaissance, a Trailblazing NFT Initiative Featuring Artist…
The Avalanche Foundation Launches Avaissance, a Trailblazing NFT Initiative Featuring Artist Residencies for 50+ Digital Creators - The unique program aims to spur Avalanche NFT growth through specialized mentorship, financial support, and DAO curation of Avalanche art. The Avalanche Foundation has launched Avaissance, an initiative to support on-the-rise digital artists and drive Avalanche NFT ecosystem growth. Avaissance has two signature components: an Artist in Residence program (AIR) for 50+ artists, and the Mona Lisa Initiative (MLI), which is a digital art curation collaboration that will jump-start the next generation of Avalanche art. Avaissance intends to bring a Renaissance to Avalanche NFTs, sparking artists and spurring the ecosystem’s momentum. Artists can already benefit enormously from Avalanche’s speed, reliability, and low fees, all of which make creating and collecting NFTs frictionless. Avaissance aims to help take Avalanche NFTs to yet another level. — Artist-in-Residence (AIR). — From now through April 28, artists of any skill level working in any digital medium can apply for AIR. The residency will be digital. Artists from across the world (with a few exceptions) can apply. The first cadre of 50+ residents will be announced in May. AIR will give accepted artists a 6-month opportunity to pursue a personal creative project while receiving substantial funding, one-on-one mentorship, virtu...
Builder Spotlight: The Lemonade Foundation and Insuring Smallholder Farmers with Avalanche
Roy Confino, Head of Strategy and Operations at Lemonade Foundation, explains how a program built on Avalanche safeguards Kenyan farmers from climate risks. This fall, Eunice Jesang insured her whole maize crop for $.83. Eunice is a farmer in Kenya. She plants, tends her crop, and harvests when the time comes. She relies on the harvest for income, so spending $.83 to secure payment for her entire crop in the event of a climate-driven catastrophe provides financial protection that wasn’t there before. What makes it possible now? An insurance-like application built by the Lemonade Crypto Climate Coalition on Avalanche.“This insurance product is built end-to-end on blockchain,” explained Roy Confino, head of strategy and operations at Lemonade. “It utilizes strategies that would be impossible with regular technology, with regular financial instruments. I don’t think it’s comparable to anything in the insurance space.” The app is simple. Farmers get a quote on their phone. They pay, creating a policy. If weather conditions are bad and crops fail, farmers receive a sum. Already, some 7,000 Kenyan farmers have obtained crop insurance through the program. Its protection comes at a time when farmers like Eunice Jesang are increasingly at risk due to the stronger, more erratic storms of climate change. When crops fail, payment is automatic. No need to file claims. “Just because it’s on-chain doesn’t mean it’s ...
More Avalanche (#AVAX) News
|Circle Expands Euro-Pegged Stablecoin to Avalanche Blockchain
On Thursday, the stablecoin issuer Circle Financial announced that the euro-pegged crypto asset EUROC is expanding natively on the Avalanche (AVAX) blockchain. According to Circle, several decentralized finance (defi) protocols and projects are supporting the new AVAX-issued EUROC asset.Circle's EUROC Stablecoin Finds New Home on Avalanche Blockchain
About 11 months ago, Circle launched the euro stablecoin called euro coin (EUROC) as its second major fiat-pegged token, following usd coin (USDC). The EUROC stablecoin was initially launched on the Ethereum blockchain as an ERC20 token. Currently, there are approximately 47.11 million EUROC in circulation, according to statistics from etherscan.io. The euro-backed stablecoin issued by Circle is held by 1,381 unique Ethereum-based addresses.
On Twitter, Circle announced that EUROC will now be hosted natively on the proof-of-stake (PoS) blockchain Avalanche (AVAX). “It is official, [EUROC] is now multi-chain and live on [Avalanche] today,” Circle tweeted. “Developers can build on top of [eurocoin] on Avalanche to deliver faster, more efficient solutions for users to send, spend, save, lend, and borrow with a fully reserved, euro-backed stablecoin,” the company added.
Circle further noted that EUROC already has support from key defi applications and protocols like Curve Finance, Cable Finance, Trader Joe, Pangolin Dex, Benqi, and others. In a blog post published on Thursday, Circle said that it also offers '...
|Avalanche Transactions Mooned During USDC's Temporary De-Peg in Q1 2023:...
In Avalanche's fourth-quarter report shared with CryptoPotato, data and analytics platform Nansen reported a heavily volatile daily transaction count on the Avalanche C-Chain.
The Avalanche C-Chain is essentially short for contract chain - which is the default smart contract blockchain on Avalanche. It allows the creation of any Ethereum-compatible smart contracts and runs complementary to the X-Chain, which is used to send and receive funds in the form of AVAX tokens.
Avalanche On-Chain Q1 2023
The number of transactions on the network kept oscillating between ~90k and 200k. However, a sharp spike over this range to 290k was seen on March 11, driven by Trader Joe, USDC, and two unlabelled addresses. It was found that the latter were two bots that recorded high activities suggesting multiple players took advantage of the market panic caused by USDC's de-peg on that day.
There has been a significant increase in the number of unique addresses transacting on the network as well. Specifically, on March 10 and 11, the daily active addresses experienced a spike, recording over 120k on each day. The average gas paid, on the other hand, followed a similar pattern to the transactions, except for January 1, where it exceeded 40,000 despite no notable increase in the transaction count.
In the first quarter, the average daily gas paid on Avalanche C-Chain was significantly lower when compared with Ethereum. For context, the lowest daily gas paid on Ethereum stood at $2.43 on January 8. T...
|Biggest Movers: DOGE Jumps 6%, AVAX Hits 2-Month High on Monday
Dogecoin rose by over 6% to start the week, as prices moved back towards a key resistance level. The meme coin moved higher for a fifth straight session, despite the cryptocurrency market falling by 1.54% as of writing. Avalanche also climbed, hitting a two-month high.Dogecoin (DOGE)
Dogecoin (DOGE) rose by as much as 6% on Monday, as prices surged for a fifth consecutive session.
Following a low of $0.08858 on Sunday, DOGE/USD raced to an intraday peak of $0.0946 earlier in today’s session.
The move saw dogecoin close in on a key resistance at the $0.0960 level, which was last hit on April 5.
Looking at the chart, one of the catalysts of today’s surge in price was a breakout that occurred on the relative strength index (RSI).
At the time of writing, price strength has moved beyond a ceiling at the 61.00 mark, and is tracking at 62.87
An upcoming wall at 65.00 could be a hurdle for current bulls. However, should they overcome this, there is a good chance that DOGE moves back above $0.1000.
In addition to DOGE, avalanche (AVAX), was another notable gainer in the market to start the week.
AVAX/USD climbed to an intraday high of $21.011 on Monday, following a low of $19.04 during Sunday’s session.
As a result of Monday’s surge in price, avalanche has hit its highest point since Feb. 22.
This has resulted in the token briefly breaking out of a point of resistance at $20.90, however gains have since slipped.
It appears that momentum was ...
|Biggest Movers: XRP Rebounds on Tuesday, as AVAX Hits 1-Week High
Xrp rose for a second consecutive session on Wednesday, as the token continued to move away from a recent price floor. Since hitting an eleven-month high a week ago, the token has mostly consolidated. Avalanche was also in the green, as prices hit a one-week high.XRP
XRP, formerly ripple, was a notable gainer in today's session, as prices continued to move away from a recent support point.
Following a low of $0.4972 on Tuesday, XRP/USD raced to an intraday high of $0.5256 earlier in today's session.
This came as bulls continued to move away from a floor at $0.49500, following a breakout earlier in the week.
Looking at the chart, it appears that this took place as the 14-day relative strength index (RSI) bounced from a support of its own at 59.00 .
At the time of writing, the index is tracking at 61.24, with the next visible ceiling at the 63.00 mark.
As a result of this upcoming hurdle, earlier bulls have already moved to liquidate gains, with XRP now trading lower at $0.5137.
Another notable gainer on Tuesday was avalanche (AVAX), which moved to a one-week high.
AVAX/USD moved to a peak at $18.31 earlier in today's session, after falling to a low of $17.29 the day prior.
The surge saw avalanche climb to its strongest point since March 23, and came following a move beyond a ceiling at $18.00.
Since then, earlier gains have somewhat fallen as a result of the RSI hitting a wall at the 56.00 level.
Price strength is now tracking at 55.63, which has resulted i...
|Avalanche Sees Surge in BTC Bridged to Its Network With Over $44 Million...
According to statistics, the number of bitcoin bridged to the Avalanche blockchain saw a significant inflow on March 2, as more than 2,000 bitcoin were bridged on that day. Data further shows that as of Friday, March 3, a total of 8,504 bitcoin worth $190.9 million was bridged over to the Avalanche network.Bitcoin Bridged to Avalanche Rises
Thirty-eight days ago, Bitcoin.com News reported that the number of bitcoin (BTC) ported over to the Avalanche network had surpassed the capacity of the Lightning Network. On Thursday, a significant amount of bitcoin was moved to Avalanche (AVAX) in the form of Avalanche bridged bitcoin, also known as BTCb.
Statistics from Dune Analytics show that more than 2,000 BTC, or roughly $44.7 million worth of bitcoin, was bridged to the AVAX chain. Since our report on January 24, 2023, the number of BTCb has risen 62%, from 5,248 to 8,504 BTCb.
The BTCb supply is still greater than the number of bitcoin contained in public Lightning Network channels, which is 5,421.50 BTC at the time of writing. Over the 38 days since BTCb surpassed the total on public channels, its supply has grown 38% larger than the Lightning Network capacity.
To date, BTCb has seen 367,392 transfers, and the bridged bitcoins are held by 4,420 unique addresses. A large number of BTCb are stored on the decentralized finance protocols Benqi and GMX. Onchain data recorded on March 3 shows that 1,317 BTCb are stored within the GMX Vault.
Although BTCb has outpaced capacity held o...
|Biggest Movers: AVAX Hits 2-Week Low as DOT Extends Recent Losses
Avalanche fell to a two-week low on Tuesday, as the token broke out of a key support point. Prices fell below a floor at $17.50, which comes as the global cryptocurrency market cap is down by 1.01% as of writing. Polkadot also extended its recent losses, falling by nearly 3% on Feb. 28.Avalanche (AVAX)
Avalanche (AVAX) slipped to a multi-week low on Tuesday, as prices moved below a key support point.
Following a high of $18.62 to start the week, AVAX/USD dropped to a bottom of $17.39 earlier in today’s session.
This move saw avalanche hit its weakest level since February 13, which is the last time prices were under $17.00.
From the chart, it appears that one of the catalysts for the drop was a breakout on the relative strength index (RSI).
Price strength dropped below a floor at 43.00, and as of writing, the RSI is tracking at the 42.28 level.
The next visible point of support seems to be near the 40.00 mark, and should this be hit, there is a strong chance that AVAX will move below $17.00.
In addition to AVAX, polkadot (DOT) also extended recent losses, falling for a second straight session.
DOT/USD moved to a low of $6.43 on Tuesday, after starting the week trading at a high of $6.78.
As a result of today’s drop, DOT has now fallen for seven of the last eight sessions, dropping by over 11% in that time.
Like with AVAX, today’s sell-off came as the RSI broke out of a floor — in this instance the 48.00 zone.
As of writing, the index i...
|Biggest Movers: MATIC Hits 10-Month High as AVAX Extends Recent Gains
Polygon rallied to a ten-month high on Thursday, as the token rose for a third straight session. Overall, cryptocurrency markets rebounded from recent losses, with the global market cap up 5.90% at the time of writing. Avalanche also surged, hitting a one-week high.Polygon (MATIC)
Polygon (MATIC) surged to a ten-month high earlier in the day, as prices rose for a third consecutive session.
MATIC/USD moved to a peak of $1.39 earlier in today’s session, which comes a day after trading at a low of $1.27.
As a result of Thursday’s high, MATIC/USD jumped to its strongest point since April last year.
Looking at the chart, polygon has had a mini-bull run this week, after bouncing off a floor at $1.20, leading up to a move to a ceiling at $1.35 today.
Earlier gains have marginally eased, however, with the relative strength index (RSI) moving close to a ceiling at 70.00.
At the time of writing, the index is tracking at 68.22, with MATIC/USD at the $1.37 mark.
Avalanche (AVAX) extended recent gains on Thursday, leading to prices hitting a one-week high.
Following a low of $18.39 on hump-day, AVAX/USD raced to an intraday high of $20.31 earlier in the day.
This resulted in avalanche climbing to its highest point since February 8, when the token last collided with a ceiling at $21.00.
Looking at the chart, the initial surge took place following a break beyond a resistance at 55.00 on the RSI indicator.
However, at the time of writing, price strength appear...
|Biggest Movers: AVAX Hits Highest Point Since August, Following 17% Jump
Avalanche moved to its highest point since August, as the token rose by as much as 17% in today’s session. Cryptocurrencies surged across the board, following the latest Federal Reserve rate hike, with the global market cap 4.29% higher as of writing this. Polygon also hit a multi-month high on Thursday, rising by over 14% in the process.Avalanche (AVAX)
Avalanche (AVAX) was one of Thursday’s notable movers, as the token rose to its highest point since August.
AVAX/USD hit a high of $22.71 earlier in the day, and came less than a day after it traded at a bottom of $18.80.
The move came as avalanche broke out of a long-term price ceiling at $21.65, on its way to its strongest point since August 26.
Looking at the chart, the move took place following a breakout of a resistance level at 72.00 on the relative strength index (RSI) indicator.
As of writing this, the index is tracking at 72.62, with the next visible resistance point around the 74.00 mark.
Should this zone be hit, there is a strong chance that AVAX could move above $23.00, recording a fresh five-month high in the process.
In addition to AVAX, polygon (MATIC) also rose significantly higher in today’s session, hitting a multi-month high in the process.
Following a low of $1.07 on Wednesday, MATIC/USD moved to a peak of $1.25 earlier in the day.
Thursday’s rally saw MATIC climb by as much as 15%, hitting its highest level since November 8.
As of writing this, polygon has given...
|AVAX Jumps 22% As Avalanche Records Another Win For Institutional Adopti...
Avalanche (AVAX) seems to be reaping the benefits of recent partnerships its network sealed with Amazon and finance platform Intain.
In fact, despite experiencing severe price drops together with the rest of the broader crypto market during the final quarter of the previous year, the altcoin has managed to stand out as one of the better performers this week.
At the time of writing, according to tracking from Coingecko, AVAX is changing hands at $21.81 and has gone up by more than 13% over the last 24 hours.
On a weekly and bi-weekly basis, the crypto is sporting upticks of 22.2% and 38.2%, respectively while during the past 30 days the digital asset’s value recorded a tremendous boost, going up by an astonishing 96%.
Avalanche Records Massive Jump In Daily Transactions Count
This impressive rally that AVAX is currently enjoying seems to have rubbed off in other aspects of its ecosystem, as evidenced by the 85% increase in the average daily transactions its native blockchain processes which now peaks at 288,120.
Moreover, before exiting 2022, the smart contract-focused network tallied a daily active address average of 48,023, 3.2% higher of what was recorded during the third quarter of last year.
The first institutional Subnet is here!
.@IntainFT, a structured finance platform that facilitates administration of $5.5B in assets, is launching IntainMARKETS, an on-chain marketplace for tokenized asset-backed securities.
Let's take a look at why Intain #ChoseAvalanche / pi...
|Biggest Movers: DOGE up to 6-Week High, as AVAX Jumps 13% on Saturday
Dogecoin rose to a six-week high on Saturday, as prices rose above a key resistance level to start the weekend. The meme coin climbed to its strongest point since December, as the global crypto market cap was mostly in the green in today’s session. Avalanche also surged today, hitting its strongest point since August.Dogecoin (DOGE)
Dogecoin (DOGE) was one of Saturday’s most notable movers, as prices rose to their highest point in six weeks.
Following a low of $0.08507 on Friday, DOGE/USD rallied to an intraday peak of $0.09297 earlier in the day.
As a result of this, dogecoin moved to its strongest point since December 13, which is the last time prices were trading at a resistance level of $0.0930.
Looking at the chart, the move took place as the 14-day relative strength index (RSI) edged closer to a ceiling at 61.00.
As of writing, the index is tracking at 59.96, with DOGE trading below earlier highs at a reading of $0.08808.
Should DOGE bulls push price strength past the 61.00 mark, it is likely that prices will break out of today’s ceiling at $0.0930.
Avalanche (AVAX) surged by as much as 14% higher to start the weekend, as prices raced past a long-term point of resistance.
AVAX/USD jumped to a high of $21.68 earlier in the day, which comes less than a day after falling to a low of $17.83.
Today’s rally has seen avalanche rise to its highest level since August 26, cementing a five-month high in the process.
Earlier gains have al...
|Avalanche Skyrockets 14%, Bitcoin Calm at $23K (Weekend Watch)
Bitcoin initiated another leg up late on Friday and tapped $23,500 but was stopped in its tracks and has returned to familiar ground.
Most altcoins have charted more impressive gains, led by Avalanche, MATIC, OKB, Dogecoin, and others.
Bitcoin Back Down to $23K
It was last week when the primary cryptocurrency skyrocketed from $21,000 to a multi-month high above $23,000. This solidified the asset's positive start to the new year, in which it has already shot up by roughly 40%.
The past seven days were less volatile except for a price pump on Wednesday night. This one saw BTC jump to $23,800 for the first time in over four months. However, the bears intercepted the move and pushed bitcoin south almost immediately.
All eyes were on the US on Thursday and Friday. The world's largest economy announced the GDP date on Thursday and the PCE numbers a day later, but that didn't bring a lot of fluctuations for bitcoin.
Nevertheless, the asset saw a minor price jump to $23,500 late on Friday but couldn't continue upwards. As of now, it stands at around $23,000 once again, but its market cap is above $440 billion.
Its dominance over the altcoins has been reduced slightly to 42.1% as most alts have charted notable gains in the past 24 hours.
BTCUSD. Source: TradingView
AVAX, DOGE, MATIC on the Rise
As mentioned above, a lot of altcoins have outperformed bitcoin on a daily scale, led by Avalanche. AVAX has shot up by roughly 14% and has tapped a local peak of over $20.
Dogecoin, Polygon, a...
|Avalanche Crumbles 10% – Was The AVAX Rally A Bull Trap?
Avalanche has been going up the chart ladder since the start of the year, following the broader crypto market rally as major cryptocurrencies break through crucial resistances. But right now, its native token AVAX seems to have found itself a new ceiling.
According to Coingecko, AVAX is down 10% in the daily time frame, landing it a spot as one of the bigger losers as of today, January 25th. This has led to speculation that Avalanche’s most recent rally that was triggered by partnerships with Amazon Web Services and with Alibaba was just a so-called 'buy the rumor, sell the news' event.
The saying 'buy the rumor, sell the news' describes a common trading technique in which investors buy a security on the basis of rumors about an impending news announcement or data, and then sell the asset once the news is out.
This could afford the trader an opportunity to purchase the security before everyone else does so that he or she can sell it at a profit when demand and price rise.
External And Internal Forces Influence AVAX
Although developments on-chain have been particularly bullish, external market forces seem to be the dominant force for the token’s slippage today. At the time of writing, Bitcoin and Ethereum have approached their respective resistances with no breakthroughs made by the two cryptos' bulls.
But with recent developments like the ecosystem’s partnership with Canadian e-commerce company Shopify, we might see Avalanche become more ...
|Biggest Movers: AVAX Hits Multi-Month Peak, as MATIC Jumps to 1-Week Hig...
Avalanche moved to a multi-month high on Jan. 24, after reports that the number of bitcoin on its network rose to 5,493. The news saw the token surge by nearly 5% today, rising for a third straight session in the process. Polygon also moved higher on Tuesday, hitting a one-week high.Avalanche (AVAX)
Avalanche (AVAX) rose to a multi-month high on Tuesday, as prices rallied for a third consecutive session against a backdrop of bullish news.
Following a low of $17.43 to start the week, AVAX/USD moved to an intraday peak of $18.86 earlier today.
As a result of today’s surge in price, AVAX has risen to its strongest point since Nov. 6.
Looking at the chart, the move took place following a breakout of a ceiling at the $18.50 mark.
In addition to this, the 14-day relative strength index (RSI) neared a resistance level of its own at 72.00
At the time of writing, the index is tracking at 71.11, with earlier gains fading, resulting in AVAX currently trading at $18.22.
In addition to AVAX, polygon (MATIC) climbed higher in today’s session, following a collision with a key price floor.
MATIC/USD raced to a peak of $1.04 earlier in the day, less than a day after hitting a low of $0.9849
The move saw polygon reach its highest level since last week Monday, when price was last close to a resistance of $1.05.
However, like on that occasion, prices have since plunged, with momentum not strong enough to force a breakout.
As of writing, MATIC/USD is now trading at ...
|Bridged Bitcoin on Avalanche Surpasses Value Locked on the Lightning Net...
Members of the crypto community have been discussing the number of bitcoins that have been bridged over to the Avalanche network, which is now larger than the total value locked on the Lightning Network. At the time of writing, there are 5,493 bitcoins circulating on the Avalanche blockchain, while the Lightning Network holds 5,248 bitcoins.Number of Bitcoin Bridged to Avalanche Climbs Past Lightning Network Capacity
This past week digital currency advocates have been discussing the rising number of bitcoin (BTC) bridged over to the Avalanche (AVAX) network. Seven days ago, the crypto asset known as BTCb saw its supply surpass the number of bitcoins locked on the Lightning Network (LN). The reason for the celebration is that it took much less time to beat the LN's total value locked (TVL) or capacity. At the time of writing, the LN has around 5,248 bitcoin TVL, which is worth around $120 million using today's BTC prices.
A week ago on Jan. 16, an Avalanche (AVAX) supporter known as 'Ojrdev' tweeted about the number of bitcoins transferred to the AVAX chain. 'Avalanche has transferred more [bitcoin] (BTCb) than is locked in [the] Lightning Network,' Ojrdev tweeted. 'The Avalanche consensus mechanism is also faster than Lightning.' Many other AVAX supporters agreed and celebrated the milestone. While the LN currently holds 5,248 BTC, the number of BTCb, according to snowtrace.io, is around 5,493 BTCb, worth $125.5 million using current BTC exchange rates.
During the same peri...
|Popular Crypto Analyst Goes Bullish On BTC And AVAX, Here's What He Said
Due to the Bitcoin (BTC) and crypto market uncertainty, predicting the following trend pattern for crypto assets is usually difficult. However, analysts have always released predictions for most crypto assets. While some projections turned out to be accurate, some still failed to happen as predicted.
One analyst became popular for releasing an accurate prediction for Bitcoin's 2018 bottom six months before the period. However, the pseudonymous analyst and trader, Smart Contracter, is suddenly bullish in his recent predictions.
Analyst Scraps Bearish Stance On Bitcoin (BTC)
Smart Contracter took to Twitter to inform his followers about his plan to scrap his bearish bias on the BTC/USD trading pair. His new decision was based on the recent Bitcoin price breaking out to a higher range.
Smart Contracter noted that Bitcoin could perform better than other cryptocurrencies in the future. He explained that the BTC's price action is currently more impressive due to the impulsive disposition. The analyst disclosed that he desired to shift to long positions in his trades once the opportunity came through a breakdown.
Further, Smart Contracter projected charts to explain the possible price trend for the leading crypto asset. For example, he predicted that Bitcoin would surge by more than $18,800. Also, he used Elliot Wave Theory to support his technical analysis for BTC.
Smart Contracter reported that BTC would display a 5-wave pattern for its primary trend, but its corrective movement ...
|Biggest Movers: AVAX 22% Higher, as DOT Nears 1-Month High
Avalanche was one of Thursday’s big gainers, as the token rose by as much as 22% in today’s session. The move came as inflation in the United States fell to 6.5% as markets were expecting. Polkadot was another notable mover, with prices climbing close to a four-week high. Avalanche (AVAX)
Avalanche (AVAX) rose by as much as 22% in today’s session, as cryptocurrencies reacted to the latest U.S. inflation report.
AVAX/USD moved to a peak of $16.11 earlier in the day, which comes less than 24 hours after falling to a bottom of $12.41.
Thursday’s spike in price pushed avalanche to its highest point since November 8, when price was at a peak of $18.15.
Looking at the chart, earlier gains have somewhat eased, with AVAX now trading at $15.18.
This came as the 14-day relative strength index (RSI) failed to break out from a resistance at the 80.00 level.
As of writing, the index is now tracking at 69.94, which is still deep in overbought territory.
Polkadot (DOT), was another big gainer in today’s session, with prices moving closer towards a four-week high.
Following a low of $4.84, DOT/USD managed to reach an intraday high of $5.16 earlier on Thursday.
As a result of this move, DOT broke out of a key resistance level of $5.15, hitting its strongest point since December 16 in the process.
As can be seen from the chart, the 14-day RSI has failed to move beyond its long-term ceiling of 68.00, and has since slipped lower.
Price strength is ...
|AVAX Soars 23% Daily as ETH Paints 9-Week High: Market Watch
Bitcoin's start of 2023 continues to be quite impressive, with the asset exploding above $18,000 for the first time in about a month.
The alternative coins have also charted impressive gains. Ethereum has registered a multi-month high of its own, while AVAX has soared by double digits.
Bitcoin Reclaims $18K
2023 continues to be largely different for bitcoin than 2022, which ended on a negative note, with BTC sliding below $16,500. After January 1, though, the landscape has been more positive for the asset.
It started to gain value gradually in the following days and neared $17,000 by last week's end. It was stopped there at first, but it shot past through that line a few days later and hasn't looked back since.
The new week brought even more joy for the bulls as BTC tapped $17,500 a few days back. However, the bulls kept the pressure on and pushed the cryptocurrency to and beyond $18,000 in the longest rally in a year and a half.
Bitcoin charted a monthly high at just under $18,400 a few hours ago but has retraced slightly since then. Nevertheless, its market capitalization has gone to $350 billion, and its dominance over the alts is up to 39.5%.
BTCUSD. Source: TradingView
ETH, AVAX Skyrocket
The altcoins are also well in the green today, led by the second-largest cryptocurrency. Ethereum was somewhat standing quiet lately, especially compared to some notable gainers such as Cardano and Solana.
Now, though, ETH is up by 5% and reached $1,400 earlier today to mark its highest...
|Avalanche Impresses With 32% Rally – Will AVAX Sustain This Ascent...
The crypto rally that greeted the new year has definitely brought gains to the world of altcoins. According to CoinMarketCap data, most huge gains were made by altcoins in the past 30 days. AVAX, native token of the Avalanche blockchain, is one of them with gains of up to 32% in the seven days.
The rally came as major cryptos like Bitcoin and Ethereum all registered gains and increased investor sentiment. Although the fear, uncertainty, and doubt of the last year’s bear market is still present, the increasing chance of a recession still gives investors some worry.
As of writing, AVAX is trading at $15.96, up 28% in the last 24 hours, data from Coingecko show.
What Supported The Avalanche Rally?
The Avalanche ecosystem has been bullish. Recently, Shopify partnered with Avalanche to allow Shopify merchants to sell their NFTs. According to public information, users don’t need to handle any cryptocurrencies to buy NFTs.
Venly, one of the numerous blockchain partners of Shopify, created a no-code tool for sellers to create NFTs. In a recent interview, Venly co-founder Tom Dierckxens said that this evolution in NFT technology is an evolution which can be adopted in the mass market.
This is only the most previous on-chain development for the ecosystem. On a previous tweet by Axaholic, a Twitter account dedicated to Avalanche updates, the ecosystem partnered up with Re Protocol which tokenizes the reinsurance industry, empowering business through block...
|Ava Labs Partners With Amazon Web Services to Accelerate Blockchain Adop...
Ava Labs, the team behind the layer one (L1) smart contract platform network Avalanche, has partnered with Amazon Web Services (AWS), according to an announcement made on Jan. 11, 2023. Founder and CEO of Ava Labs, Emin Gün Sirer, said the collaboration was a 'big deal' and, in comparison with other blockchain announcements that involved AWS, he insisted that this partnership is 'meaningful.'Founder and CEO of Ava Labs, Emin Gün Sirer, Comments on Collaboration with Amazon Web Services
According to Ava Labs, the company behind the blockchain network Avalanche (AVAX), the firm has partnered with Amazon Web Services (AWS) to 'accelerate enterprise, institutional, and government adoption of blockchain.' The team published the announcement on Jan. 11, 2023, and said that AWS will support the Avalanche network and decentralized application (dapp) ecosystem. 'Critically, Avalanche node operators can run in AWS Govcloud for Fedramp compliance use cases - a vital capability and a pre-requisite for enterprises and governments,' the Wednesday announcement detailed.
“At AWS, we are all about bringing the most cutting-edge technologies to builders, no matter if they sit in a multi-million-dollar enterprise, a government office, or a dorm,” Howard Wright, the VP and global head of AWS startups said in a statement. “The new capabilities brought by Avalanche enable us to do just that. We’re thrilled to add an innovator like Ava Labs to our partner network a...
|Avalanche Partners With Amazon, What's Next For The Price?
Avalanche and its dApp ecosystem shall now be supported by Amazon Web Services (AWS), which also comprises one-click node deployment through the AWS marketplace.
With this partnership with AWS, Ava Labs can help customers deploy custom offerings linked to over 100,000 partners spread across 150 countries.
Technically, the Avalanche node operators can operate in AWS GovCloud for the FedRAMP compliance use case, which is an essential pre-requisite for many enterprises and governments.
This partnership will help scale blockchain adoption among many enterprises, government organizations, and other institutions.
Howard Wright, the VP and Global Head of startups at AWS, stated:
Looking forward, web3 and blockchain are inevitable. No one can call the time or date or quarter that it’s going to happen and it’ll be mainstream, but we’ve seen the cycles of growth before. The velocity of this one seems like it’s accelerating and we’re just excited to be a part of this.
Through the partnership, individuals will find it much easier to launch and manage nodes on Avalanche; additionally, it will strengthen and make the network more flexible for developers to work on. This new development has positively affected the altcoin's price, but it is yet to be seen if the coin can sustain this price sentiment.
Avalanche Technical Analysis
The news of AWS being incorporated into the Avalanche ecosystem has instantly spiked investor interest. The daily chart of AVAX di...
|AVAX Value Drops By 2% Following Grayscale Removal of Avalanche From Lar...
In its latest quarterly update, Grayscale announced the rebalancing of funds for the fourth quarter of 2022. As part of the rebalancing, Grayscale sold off a certain amount of its Digital Large Cap Fund and dumped its held tokens, including Avalanche Network token AVAX.
AVAX has slipped by 2% following the sell-off in the past 24 hours. According to Grayscale, the sold-off AVAX tokens were replaced with the purchase of the existing fund components in proportion to their respective weightings.
Grayscale Purchased And Existing Tokens
The AVAX sell-off was only part of the CoinDesk Large Cap Select Index and Grayscale Digital Large Cap Fund. In its CoinDesk Smart Contract Platform Select Ex ETH Index and Grayscale Smart Contract Platform Ex-Ethereum Fund portfolio rebalancing, the company sold off Algorand native token ALGO.
In its CoinDesk DeFi Select Index methodology, Grayscale adjusted its DeFi Fund’s portfolio and purchased Synthetix (SNX) after selling some existing assets.
As of now, the Grayscale portfolio fund now includes 65% Bitcoin (BTC), 30% Ethereum (ETH), 1.86% Cardano (ADA), 1.39% Polygon (MATIC), and 1% Solana (SOL). Meanwhile, its DeFi Fund’s Fund Components include 65.05% Uniswap (UNI), 12.39% Aave (AAVE), 8.15% MakerDAO (MKR), 6.02% Synthetix (SNX), 4.58% Curve DAO Token (CRV), and 3.81% Compound (COMP).
Since July, Grayscale has been carefully monitoring the CoinDesk Large Cap Select Index. The index launched in Apr...
|Avalanche: Will 2023 Bring A Fruitful Recovery For The AVAX Ecosystem?&n...
The 2022 crypto bear market left a deep mark on the Avalanche ecosystem. AVAX, the native token of Avalanche, dropped by a whopping 89.5%, leaving many investors scratching their heads.
However, the token has seen some rebound. According to CoinMarketCap, AVAX is up 3.78% in the past 24 hours and trading at $11.53. This pump in price is due to certain bullish factors that will play a role in Avalanche’s 2023 recovery.
Developments On-chain Increasing
Although the past year has been very bearish in terms of the crypto market’s pricing, developments on-chain are going strong. On December 30, Avalanche pushed its Incentives Program to promote dApp development on the Avalanche ecosystem.
December also saw the integration of Coinbase’s USDC which will certainly bring more people into Avalanche and the crypto economy as a whole.
Avaxholic, a popular Twitter account dedicated to updates about the ecosystem, recently tweeted about the current state of developments on-chain. Re, a blockchain enabled reinsurer, launched on Avalanche.
Re aims at tokenizing the reinsurance market, making blockchain technology accessible to institutions that dabble in the reinsurance market. This puts Avalanche on the forefront of this connection with traditional finance. As of writing, the reinsurance market is projected to reach $1.3 trillion by 2031.
Partnerships with HoldStation, a SocialFi wallet provider, and Odos Protocol, who launched a DEX aggre...
|Avalanche Exits 2022 With 10% Decline – Will AVAX Recoup That Loss...
Avalanche recorded a number of significant developments, which was encouraging for AVAX since it enhanced the network's value. Before 2022 came to a close, the network revealed that it had partnered with Dua.com, a SocialFi that had picked Avalanche to develop its 'Fi.'
The Avalanche ecosystem also grew in the run-up to 2023, as its total number of trade counts and amount of NFT trades in US dollars increased. AVAX engineers also announced the release of Banff 5, the final version of its AvalancheGo software, on December 22.
According to Avalanche, it debuted Avalanche Warp Messaging (AWM) with Banff 5, allowing its network-based blockchains to communicate with one another.
SocialFi https://t.co/EQ2K6P3vZv Chooses Avalanche To Build Its “Fi”
SocialFi is a trend that has emerged recently when prominent projects appear. @duadotcom is a name that cannot be ignored & recently, its homepage officially announced its cooperation with #Avalanche.
— Avaxholic (@avaxholic) December 30, 2022
Avalanche: Meeting Investors' Expectations
Although several AVAX statistics appeared promising, market indicators warned that the company's performance may not meet investors' expectations.
AVAX was trading at $10.69 with a market value of nearly $3.3 billion at the time of writing, according to CoinMarketCap data. AVAX's price has declined by more than 10% in the past seven days.
Moreover, the AVAX Money Flow Index had a decline, which was bearis...
|AVAX Eyes The Next Resistance, Is It Time To Go Long?
The Avalanche (AVAX) price has been undetermined for quite a number of weeks now. The altcoin is now logging gains on the daily chart as it rose over 3% in that time frame. The coin shows signs of optimism ever since it moved up from the $12.90 support mark.
The technical outlook for AVAX displayed signs of demand and buy signals for traders. If demand continues to rise and buying sentiment increases over the immediate trading sessions, the chance of AVAX piercing through other resistance levels will strengthen further.
As the coin continues to secure higher highs and higher lows, the bulls still remain in charge of the asset. However, if AVAX starts to consolidate below the $13 price level, then the altcoin can register depreciation.
Progressive price momentum demands AVAX breach the $14.30 resistance mark. Once AVAX successfully manages to challenge that level, the bulls will stick around for longer. The market capitalisation of the altcoin already registered an upsurge which is tied to an increase in accumulation.
Avalanche Price Analysis: One-Day Chart
The immediate overhead price ceiling that Avalanche price needs to breach stood at $13.90. This move would ensure another rally to $14.60. Once the coin moves past that level, accumulation will increase considerably.
Traders had ample entry points in the market; for instance when AVAX dipped to $12. Over the upcoming trading sessions, investors can manage to see returns on the chart.
On the other hand, if due to lack of d...
|Biggest Movers: AVAX Hits 1-Week High, as LTC Also Climbs Following US I...
Avalanche rose to a one-week high on Tuesday, as markets reacted to the latest inflation report in the United States. Consumer prices rose to 7.1% in November, which was lower than the 7.3% markets had expected. The figure was also 0.6% lower than October's reading of 7.7%. Litecoin also rebounded on the data, rising by over 6%.Avalanche (AVAX)
Avalanche (AVAX) was a notable gainer on Tuesday, as prices surged following the release of U.S. inflation figures.
November's consumer price index (CPI) came in at 7.1%, which was lower than the 7.3% traders were expecting.
As a result, AVAX/USD rallied to an intraday high of $14.09, which saw prices up by nearly 10%.
Today's rise saw avalanche hit its strongest point since December 5, which was the last time the token was trading above its ceiling at $13.75.
The 14-day relative strength index (RSI) also rose, breaking out of a resistance point of 51.50 in the process.
Gains in AVAX have eased from earlier highs, and as of writing the token is trading at $13.94.
Litecoin (LTC) also rose in today's session, with the token rebounding from its losses to start the week.
Following a drop to $73.52, which was the lowest level LTC/USD had hit since November 29, the token raced to a high of $79.52 earlier today.
This surge in price sent litecoin to its strongest point since December 7, which is the last time price was above $80.00.
Looking at the chart, today's bullish momentum comes as the RSI bounced from a floor of 55.50,...
|Biggest Movers: LEO Rebounds on Wednesday, Whilst AVAX Falls From 3-Week...
Unus sed leo was one of a few gainers on Tuesday, as cryptocurrency markets mostly traded lower. Bearish sentiment returned to the global crypto market cap in today’s session, with prices down by 1.77% as of writing. On the other hand, avalanche was trading lower, as prices retreated from a recent multi-week high.Unus Sed Leo (LEO)
Unus sed leo (LEO) was one of a few tokens to climb higher on Tuesday, as prices rebounded from recent losses.
Following a low of $3.78 to start the week, LEO/USD rallied to an intraday peak of $3.94 earlier in the day.
This comes after bears were unable to force a breakout from a key price floor of $3.75 on Monday.
As can be seen from the chart, the rebound in price coincided with the 14-day relative strength index (RSI) also bouncing from a support of its own.
The index rose from its floor at the 43.50 mark on Monday, and as of writing, is currently tracking at 49.12.
This is the highest point that price strength has hit in over one week, pushing it closer to a ceiling of 50.00 in the process.
Avalanche (AVAX), on the other hand, was one of many cryptocurrencies to move lower during Tuesday’s session.
AVAX/USD dropped to a bottom of $13.48 earlier in the day, which comes less than 24 hours after hitting a peak of $14.31.
Monday’s high was the strongest point that avalanche had traded at since November 10, when price was above $15.00.
Today’s shift in sentiment comes despite the 10-day (red) moving avera...
|AVAX Rumbles 15% In Last 7 Days – But A Trend Reversal Might Occur...
Avalanche, earlier today, was boasting a seven-day increase of 15% in AVAX price, being among those few crypto assets that tallied double-digit gains in that particular department.
The cryptocurrency, however, seemed to have entered a price correction phase, losing 5.1% of its value over the last 24 hours.
AVAX lost some of its weekly gains which is now at 8.5%
Various technical indicators suggest the crypto asset is in an overbought position
A decline all the way to the $12 territory remains a big possibility within the next few days
At the time of this writing, according to data from Coingecko, the altcoin is trading at $13.53. Although it experienced a decline, it is still sitting on weekly uptick of 8.5%. Moreover, during the past two weeks, the altcoin has managed to go up by 14.1%.
Although Avalanche performed relatively well last week, traders and investors might have to brace themselves as some of its technical indicators point at a potential bearish momentum during the next few days.
Metrics Show Possible Roadblocks For AVAX
At the moment, it would appear that bears are currently in control with the digital asset’s price trajectory, evidenced by its 20-day Exponential Moving Average (EMA) was settling just below the 55-day EMA.
Moreover, although the Moving Average Convergence Divergence (MACD) is displaying a bullish crossover right now, AVAX’s Money Flow Index (MFI) was driven into the overbought territory, indicating that there is a high chan...
|Zeeve Adds Support for Avalanche Subnets and Upgrades Its Web3 Infrastru...
[PRESS RELEASE - Santa Monica, United States, 29th November 2022]
Zeeve, the leading web3 infrastructure automation platform, has added support for Avalanche Subnets, an app-specific custom blockchain solution that lets anyone create their own L1 chain optimized for their needs.
Zeeve aims to make the web3 development experience simpler and more efficient for users. Adding Avalanche subnets to its existing infrastructure stack supports this ongoing mission. An enterprise-grade deployment of Avalanche nodes will assist around-the-clock interoperability and also prove exceptionally scalable for enterprises.
Zeeve CEO Dr. Ravi Chamria said: “Application-specific chains or AppChains are gathering pace. But setting one up takes a lot of technical expertise and ongoing maintenance hassles. Zeeve’s web3 infrastructure automation framework makes subnet deployment and management seamless, secure, reliable, and scalable.”
Avalanche subnets offer unique advantages for developers looking for flexibility, scalability, and security in their projects. One key benefit is the ability for subnets to have independent tokenomics, with their own native tokens and fee markets. This creates opportunities for diverse use cases and customizable ecosystems.
Subnets also allow developers to easily adjust parameters and network structures as needed through pre-compiles. Subnets are VM agnostic, meaning enterprises can design virtual machines specific to their requirements.
Zeeve helps ...
|Avalanche TVL Hits 271 Million AVAX, Following Weeks Of Setbacks
Some cryptocurrencies, including Avalanche (AVAX), saw modest gains even as the overall market suffered from a prolonged downturn.
To date, AVAX TVL has gone up from 120.11 million to 123.7 million, an increase of approximately 3% as of press time. AVAX Daily, a Twitter account that monitors the Avalanche protocol, also posted this.
An increase of 270,611,568 AVAX was reported in the latest update for TVL. The same was also supported by a chart created by DeFiLlama (chart below).
It's good that AVAX is making progress, but is it safe from external market factors that could set it back even further?
Good News And Not So Good News
Since Binance's funding rates increased, the AVAX futures market has been seeing a positive trend. The relative strength index (RSI) and the stochastic relative strength index (Stoch RSI) values that CryptoQuant has been using indicate that AVAX is currently oversold.
Investors and traders want to see these kinds of signs since they're positive. However, there is always a dark side to every day, and no matter how bright the day may have begun, it will inevitably end in darkness.
The Relative Strength Index (RSI) and the Stochastic Relative Strength Index (Stoch RSI) may be misleading investors and traders into buying AVAX too soon in hopes of a quick profit.
The Bollinger band is currently exhibiting significant volatility. The current position of AVAX's price on the lower half of the BB indicator may portend future price declines.
At -0.17, Chaikin...
|Avalanche Looks To Capitalize On GameFi Segment – Will This Give A...
Avalanche (AVAX) peaked at $20.31 on November 6 as it gave its best to recover from the bearish trend that engulfed the broader crypto market towards the tail-end of October and the opening days the current month.
However, on November 12, the cryptocurrency experienced a severe price correction that pulled it all the way down to $12.51. The following day, the altcoin made an immediate bounce-back as it reclaimed the $15 marker.
After that, Avalanche was once again on a downward trend that made it struggle to even just climb at $14. At the time of this writing, according to tracking from Coingecko, the 20th ranked digital currency in terms of market capitalization is changing hands at $13.50.
Over the last seven days, the asset has declined by more than 15% while during the past 30 days, its value dropped by 14.4%.
As it turns out, even an impressive growth in GameFi segment of the blockchain space is not enough to stop the bleeding for AVAX.
As Crypto Market Suffers, Avalanche Notches Growth Elsewhere
According to data shared on Twitter by Avalanche Talk, 10 GameFi projects running on the AVAX blockchain tallied significant increases in volume over the past week.
Province was the top gainer, posting an impressive 1,481.77% increase in volume in just a matter of seven days. Owloper (290.98%) was at second. Rounding up the top five were Dragon Crypto (279.76%), Hoppers Game (118.39%) and Step App (91.87%).
Meanwhile, RaceX (68.42%), Crabada (44.02%), XANA Metaverse (43.3...