|All Time High:
|The price of #AVAX today is $42.00 USD.
The lowest AVAX price for this period was $0, the highest was $42.00, and the exact current price of one AVAX crypto coin is $42.00231.
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 SOL or other crypto coins.
|The code for Avalanche is #AVAX.
Avalanche is 3.4 years old.
|The current market capitalization for Avalanche is $15,844,925,947.
Avalanche is ranked #10, by market cap (and other factors).
|The trading volume is very large today for #AVAX.
Today's 24-hour trading volume across all exchanges for Avalanche is $592,505,648.
|The circulating supply of AVAX is 377,239,438 coins, which is 52% 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 84 crypto exchanges.
View #AVAX trading pairs and crypto exchanges that currently support #AVAX purchase.
The Official Avalanche Blog Has Moved!
The official Avalanche Blog has moved to a new home. Everything you need to know from the Avalanche Foundation, including Engineering, Platform, DeFi, Institutions, Gaming, NFTs and Enterprise News. Head to the Avalanche Blog to find out more: www.avax.network The monthly Snow Report is also a great resource to keep up to date on the latest news across the Avalanche ecosystem. Subscribe to the Snow Report: www.avax.network Read the past Snow Report editions: www.avax.network The Official Avalanche Blog Has Moved! was originally published in Avalanche on Medium, where people are continuing the conversation by highlighting and responding to this story.
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...
More Avalanche (#AVAX) News
|Avalanche C-Chain Experiences Block Production Halt, AVAX Price Responds
In a recent development, the Avalanche (AVAX) C-Chain encountered a significant disruption in block production, leading to a halt for over one hour. The interruption, which affected the primary network, was observed through the Avascan browser, with the last transaction recorded at block 42046853 (19:13 UTC+8).
Although other subnets experienced a slight delay, the primary network faced the most substantial impact.
Avalanche C-Chain Block Production Halt
Ava Labs, the team behind the Avalanche protocol, acknowledged the issue and promptly initiated an investigation.
|Avalanche is Down: AVAX Price is Dipping
Avalanche - one of the leading layer-ones - is experiencing what's called a 'major outage,' according to their official status page.
The outage is ongoing for some 16 minutes, according to the status page - at the time of this writing.
The problem appears to be related to a stall in block finalization:
Developers across the community are currently investingating a stall in block finalization that is preventing blocks from being accepted by the Primary Network.
Updates will be posted here as the issue is investigated.
Source: AVAX Status Page
Meanwhile, Avalanche's AVAX token is dipping as the network goes down.
The price is down over 1.3% in the past few minutes, tanking by close to 3% on the day and 12% on the week.
The post Avalanche is Down: AVAX Price is Dipping appeared first on CryptoPotato.
|Is Avalanche (AVAX) The Coin to Watch: What About These Two Tokens for L...
Avalanche (AVAX) is one of the most well-known tokens on the market, and while it might be one of the newer generation tokens - compared to old stalwarts like Bitcoin, Ethereum, and Ripple - it has a lot of potential for the future. Consequently, investors are frequently thinking about investing in the token or adding to their already sizable holdings.
However, there are two other tokens that might have even bigger potential than Avalanche, and these are Smog (SMOG) and Bitcoin Minetrix (BTCMTX). We give you an idea of the potential that AVAX has right now before diving into the details of SMOG and BTCMTX.
What’s In Store For Avalanche (AVAX)?
The first thing one might note is the fact that Avalanche (AVAX) has had a slightly worse time than other major tokens. While it did see a significant boost of 27% over the past month, taking it to the current price of around $36.57, it is yet to fully show its capacity to reach the value of $48.4 in December of last year. That’s in sharp contrast to what other tokens have achieved over the same time frame.
The daily chart shows that Avalanche price has plunged below the 23.6% Fibonacci Retracement level. It is also aiming for the bottom of the pitchfork tool and crossed below the 50-day moving average.
This means that there are two possible outcomes here. One is that it could recover in the next few days after forming the right shoulder of the inverse head and shoulders pattern. In that case, it will challenge the main re...
|AVAX Rides The Crypto Avalanche To Success: Market Cap Skyrockets By 344...
Avalanche (AVAX), the blockchain platform known for its scalability and infrastructure, made significant strides in the fourth quarter (Q4) of 2023. According to a report by Messari, AVAX emerged as one of the best-performing tokens, driving the protocol to record notable gains in key metrics.
Record-Breaking Milestones For Avalanche
The report shows that AVAX experienced a notable increase in its market cap, which climbed 344% quarter-over-quarter (QoQ) and 326% year-over-year (YoY), reaching $14.4 billion at the end of the year. This large increase propelled AVAX's market cap rank among all tokens from 20 to 9, up 11 spots (currently 10th behind Cardano (ADA).
One of the driving factors behind Avalanche's significant revenue growth was the surge in inscriptions, particularly Avascriptions (ACS-20 tokens).
These on-chain call data transactions saw a significant boost, resulting in a substantial increase in revenue. From November to December, Avalanche witnessed a surge in revenue, with a 2,874% increase measured in USD, from $1.9 million to $56.5 million.
The surge in revenue was accompanied by a significant increase in daily transactions, which jumped 450% QoQ to 1.5 million. The emergence of Avascriptions also drove the majority of these transactions.
Avalanche's C-Chain experienced a record-breaking 6.3 million transactions, with nearly 6.1 million being inscriptions. This marks the highest number of transactions ever recorded in a single day for Avalanche.
|Solana, Avalanche Lead the Altcoin Recovery, Bitcoin Returns to $40K (Ma...
After dropping further below the $39,000 line yesterday to chart a multi-week low, BTC has reacted well and currently sits close to $40,000.
The total crypto market cap has regained more than $30 billion since yesterday's peak, as several alts have produced impressive increases.
BTC Back to $40K
Following the madness that ensued amid the approvals of 11 spot Bitcoin ETFs in the States, the primary cryptocurrency calmed and remained in a tight range at around $43,000 for about a week. However, that changed this past weekend when the asset started a gradual decline that saw it drop to $40,000 on Monday.
That was just the beginning, though, as the bulls experienced further pain yesterday. This time, Bitcoin slumped to a 7-week low of $38,500. This meant that it had lost more than ten grand since the peak of $49,000 reached on January 11 - the day when the ETFs reached US exchanges.
The bulls finally managed to intervene after this multi-week low and pushed BTC north. Since then, the asset has gained over a grand and now sits at around $40,000.
Its market cap is back to $785 billion, and its dominance over the alts is up by around 1% in the past week or so to 50.4% on CMC.
BTCUSD. Source: TradingView
SOL, AVAX, DOT Lead the Alts
Most alternative coins registered painful declines yesterday, but the landscape for most is quite different today. ETH and BNB are among the few larger caps that have failed to chart gains now.
In contrast, SOL has soared by more than 8% and trades above ...
|Weekly NFT Sales Dip — Ethereum Outshines Bitcoin, Solana and Aval...
The latest statistics indicate a further decline in non-fungible token (NFT) sales this week, showing a 5.05% decrease compared to the previous week. Sales of NFTs reached $297 million, with Ethereum leading the way this week. Ethereum's sales amounted to $106 million, overtaking Bitcoin's $70 million in sales over the same seven-day period.
Ethereum Leads in Weekly NFT Sales, Outperforming Bitcoin as Digital Collectibles Market Experiences Overall Decline
Sales of non-fungible tokens (NFTs) have seen a 5.05% decrease from the previous week, yet there's been an 82.40% rise in buyers and a 77.46% increase in sellers. Recently, Bitcoin had been leading in sales, but Ethereum has now captured the leading position with $106 million in NFT sales, marking a 28.15% increase from last week. Meanwhile, Bitcoin's total sales amounted to $70,367,439, reflecting a 35.25% downturn according to cryptoslam.io metrics.
Solana witnessed a 35.07% uptick in sales, reaching $59 million over the past week. In contrast, Polygon experienced a downturn, with sales totaling $25.33 million, a 43.02% decline from the previous week. Among the top five blockchains for NFT sales, Avalanche enjoyed a 22.13% increase, culminating in $14.24 million in volume. Arbitrum also stood out with a significant 26.02% increase, securing $3.27 million in NFT sales over the same seven-day period.
This week's leading NFT collection was Solana's Cryptoundeads, achieving $15.9 million in sales. Trailing behind was Bitcoi...
|AVAX Smashes South: Can Avalanche Find Traction After 15% Plunge?
AVAX, native token of the Avalanche network, made a resounding entrance into the cryptocurrency markets at the onset of the year, establishing itself as a prominent player and outpacing many other altcoins.
The initial enthusiasm surrounding AVAX, however, underwent a notable transformation as the narrative took an unexpected turn. Presently, the token finds itself perched at $36.65, reflecting a marked shift from its earlier bullish trajectory. Over the last seven days, AVAX has encountered a challenging period, sustaining a 15% loss.
AVAX Downturn Sparks Concerns, Social Silence
The reasons behind this recent downturn could be multifaceted, ranging from market sentiment shifts to external factors influencing broader cryptocurrency trends. Investors and market analysts are closely monitoring the situation to discern the underlying dynamics at play and determine whether this is a temporary correction or indicative of a more sustained trend.
Furthermore, a curious case emerges – the dwindling social volume. Despite AVAX's resilience, online chatter surrounding the platform has taken a nosedive, raising questions about the sustainability of the coin.
The diminishing social volume might suggest a divergence between market performance and investor sentiment, prompting a closer examination of factors influencing both the cryptocurrency's value and the perception within the community.
Positively, though, the market capitalization of Avalanche has risen by more than 5% in the...
|Solana & AVAX Up Over 15% as Crypto Prices Pump Bitcoin Minetrix Hits Ne...
The crypto market has been on an upswing in the past 24 hours, with major altcoins like Solana (SOL) and Avalanche (AVAX) seeing double-digit gains.
Meanwhile, hot new crypto presale Bitcoin Minetrix (BTCMTX) has just hit the $7.8 million funding milestone, with investors clamoring to get involved while the token price is so low.
Solana Price Pumps 16% as Developer Growth Continues to Grow
SOL has jumped 16% to hit $101.90, resuming the solid bullish momentum seen throughout December.
This price rise takes SOL to the same level it was last Friday before the token’s value pulled back sharply.
SOL’s surge comes after some positive growth metrics for Solana were revealed, including that more than 2,500 monthly active developers operate on the network.
In a report from the Solana Foundation, Solana’s team claimed it has maintained up to 3,000 active developers over the past year.
This means developer retention has increased by 50% over the past three months.
The increase in developer retention coincides with more activity on Solana’s network and significant price gains for SOL.
SOL now boasts a market cap of over $43.9 billion, making it the world’s fifth-largest cryptocurrency.
With the SOL price rising higher and network fundamentals looking strong, 2024 is shaping up to be a positive year for Solana and its investors.
AVAX Jumps 17% on Institutional Investment Tailwinds
While Solana is making all the headlines, Avalanche has also seen some posit...
|COQ Thrusts Avalanche To Limelight, Will NUGX Presale Attract Conservati...
The surge in crypto activity in late 2023 benefited Avalanche (AVAX) and NuggetRush (NUGX). Specifically, Avalanche, the modern, fourth-generation blockchain, reversed losses and emerged as one of the top-performing coins, even better than Ethereum (ETH) and Bitcoin (BTC), partly because of the success of COQ, a meme coin similar to PepeCoin (PEPE).
On the other hand, as Ethereum's decentralized finance (DeFi) and non-fungible token (NFT) activity recovered, investors have been exploring options.
COQ Meme Coin Rides On Avalanche Features
Coq Inu, a hen-inspired meme coin, was one of the top-performing tokens by mid-December 2023, even outpacing PepeCoin (PEPE) and Shiba Inu (SHIB).
The success of Coq Inu and COQ brought more attention to Avalanche as capital flew from Solana and Ethereum. The quest for gains and a sense of opportunity was partly due to what Avalanche offers.
Avalanche, unlike Ethereum, is a high throughput platform that's equally scalable. Regardless of network activity, fees barely change, encouraging participants to engage as they compete to earn more gains.
This feature is what COQ creators took advantage of to release a meme coin on Avalanche that, in their description, is a shit coin without any value.
As expected, the project also had no roadmap and a big disclaimer warning holders not to expect any financial return. Additionally, COQ had no presale or allocation. All existing supply was released to the community.
By mid-December, COQ had rallied by ne...
|SOL, ADA, AVAX, XRP, or BTC – Who Performed Best in 2023 (New Year...
With 2024 already here, all eyes are now focused on the upcoming 12 months, with the potential approval of a spot Bitcoin ETF in the States, the fourth BTC halving, which is less than half a year away, and numerous altcoin-related developments and activities.
Nevertheless, it's worth exploring the overall market performance for the largest and most popular cryptocurrencies in 2023, as some, such as Solana's native token, really made a name for themselves.
BTC's 156% Yearly Surge
CryptoPotato's general Market Watches focus on the short-term price movements, but in this special January 1st one, we decided to overview how the entire 2023 went and, perhaps most importantly, how it ended. Being the largest and first cryptocurrency, Bitcoin led the charge in terms of price gains for most of the year.
It started 2023 below $17,000 but quickly started soaring in price and had reclaimed $20,000 by mid-January. Aside from a few retracements toward that coveted line, BTC hadn't slipped below it even once since then.
Trying to take down $30,000 was harder, and it actually took months until Bitcoin was finally able to do so. Once it put it in the rear-view mirror, though, the uphill battle continued with great success, and BTC even soared past $42,000 at the end of the year. The culmination came in early December when the asset pumped to a 19-month peak at almost $45,000.
Despite retracing since that local high, BTC still ended 2023 with a 156% surge. This meant that Bitcoin outperformed ...
|Avalanche Foundation to Hop Onto the Meme Coin Train, Announces Investme...
The Avalanche Foundation, an institution that funds avalanche initiatives, has recently announced that it will start investing in meme coins. These purchases will be made using funds from the $100 million Culture Catalyst fund launched in 2022, and the tokens will be selected based on their number of holders, liquidity thresholds, and project maturity, among other elements.
Avalanche to Invest in Meme Coins Using $100 Million Culture Catalyst Fund
The Avalanche Foundation has announced that it is taking a position in meme coins. In a recent X post, the foundation revealed that it will invest in selected meme coins, broadening its portfolio as part of a comprehensive move to embrace 'a more complete spectrum of possibilities.'
This investment will be made using Culture Catalyst, a fund launched in 2022 during the Avalanche Summit in Barcelona. The institution will use part of the $100 million fund, initially focused on 'helping to cultivate and support the many new forms of creativity, culture, and lifestyle that blockchain enables,' to purchase these tokens.
The foundation remarked on the relevance of this kind of token in today's crypto market, stating that they 'go beyond mere utility assets; they represent the collective spirit and shared interests of diverse crypto communities.' The meme tokens to be part of Avalanche's investments will be selected based on their number of holders, liquidity thresholds, project maturity, principles of a fair launch, and overall soci...
|Avalanche To Support Meme Coins; AVAX To The Moon?
The Avalanche Foundation is expanding its support of meme coins. This move could further boost the popularity of Avalanche, a low-fee and high-throughput blockchain, and even support its native coin, AVAX.
Avalanche Foundation To Support Meme Coins
Taking to X on December 29, the foundation said it would continue its Culture Catalyst initiative to encourage meme coin activity, among others, including Real-World Assets (RWAs), non-fungible tokens (NFTs), and more. This campaign, they continue, aims to foster innovation and propel the adoption of blockchains by supporting the creation of 'new forms of creativity, culture, and lifestyle.'
The Avalanche Foundation believes that meme coins have carved out a significant niche in crypto, representing the collective spirit and shared interests of diverse crypto communities. By recognizing and encouraging this culture, the foundation hopes to develop and expand the Avalanche ecosystem, attracting new users.
As they resume Culture Catalyst, the foundation will start by purchasing select Avalanche-based meme coins to create a collection. The selection process will be based on several critical criteria, including the number of holders, liquidity thresholds, project maturity, principles of a fair launch, and overall social sentiment.
This move is a significant step for the Avalanche Foundation, as it indicates a growing recognition of the potential of meme coins to drive innovation and growth. It is because meme coins have beco...
|Avalanche Foundation to Invest in Meme Coins with $100 Million NFT Incub...
The Avalanche Foundation, a nonprofit overseeing the development of the Avalanche Network, has revealed plans to venture into the meme coin market.
This move involves allocating a significant portion of its $100 million NFT incubator fund to purchase meme coins based on the Avalanche blockchain.
Embracing the Meme Coin Culture
According to a December 29 post on X, this move aligns with their broader objective to foster and increase new forms of artistic expression, cultural identity, and lifestyle choices, all made possible by blockchain technology's capabilities.
The foundation plans to allocate this fund to acquire “select Avalanche-based meme coins.” They aim to acknowledge and boost the unique culture and enjoyment these meme coins represent.
Last year, the Avalanche Foundation launched Culture Catalyst, a program aimed at empowering creators, sparking innovation, and propelling the adoption of blockchains. This initiative seeks to better position Avalanche to cultivate and support the many new forms of creativity,…
— Avalanche (@avax) December 29, 2023
Named 'Culture Catalyst,' this project was initiated last year to empower content creators, ignite innovative ideas, and facilitate the broader uptake of blockchain technologies.
In its post, Avalanche highlighted the significance of meme coins as more than just functional assets; they are emblems of the unified ethos and mutual interests spanning various cryptocurrency communities.
|GitHub Glory Returns to Cardano; Avalanche and Optimism Make an Entrance
New findings from crypto analytics firm Santiment provide interesting insights into the development activities of leading crypto assets. The data focuses on the top 10 crypto assets with significant GitHub commits in the last 30 days, with notable progress seen in Cardano, Polkadot, and Kusama.
While Cardano reclaimed the top position, Avalanche has secured the fourth spot, indicating substantial development activity in December. Optimism, a notable Ethereum Layer 2 scaling solution, also entered the top 10 list.
The heightened development activity suggests that developers have confidence in the long-term sustainability of these ecosystems, potentially signaling the introduction of new features.
Cardano, for instance, is actively working on integrating 'partner chains' that aim to revolutionize the launch and operation of new blockchains through modular blockchain technology.
These partner chains will enjoy benefits without being tied to any specific network or technology stack.
Despite a relatively quiet year, Cardano has entered into a partnership with Brazil’s state-owned energy company Petrobras.
As part of the program, Cardano will lead blockchain education workshops for the company's employees.
Meanwhile, Avalanche has experienced significant on-chain activity, attributed in part to JPMorgan and Citi embracing the Layer 1 network for real-world asset (RWA) tokenization initiatives. This development is expected to be positive for the AVAX token, which has already ...
|Rumbling Ahead: Avalanche (AVAX) Set To Surge 20% Before Cooling Off &nd...
The price of Avalanche (AVAX) has been steadily rising leading up to the holiday season. Consequently, in just over two months, the altcoin has more than quintupled in value. In any case, the price of AVAX still has more potential than most other cryptocurrencies, which have seen rises of about 300% over the same time frame.
Investors and aficionados are keeping a careful eye on whether AVAX may reach this milestone before the end of the current year as the cryptocurrency makes steady progress toward the coveted $50 mark, a level it has not hit since May 2022.
AVAX Surges: From Resistance Break To $50 Anticipation
At the time of writing, AVAX was trading at $45.59, down 2.1% in the last seven days, but sustained a 6.7% rally in the last week, data from Coingecko shows. With a market valuation of more than $17 billion, the altcoin has become one of the largest in the business thanks to its continuous rise.
The value of the cryptocurrency has increased dramatically since October, when it was trading at a low of $8.50. With only two months to go, AVAX surged by more than 400%, setting a new annual high of $46.50 and sparking anticipation that it would hit $50 in the remaining days of the year.
AVAX achieved a major breakthrough by breaking away from a falling resistance trend line that had held for 750 days since its all-time high, which propelled this incredible ascension. This break free from the established trend line represented a significant technical advancement and was a...
|AVAX Price Rallies 10% – Is Avalanche Rally Just Getting Started?
AVAX price rallied over 10% and traded above the $45 level. Avalanche is gaining pace and might soon clear the $50 resistance zone.
AVAX price is moving higher from the $38.00 support zone against the US dollar. The price is trading above $42.00 and the 100 simple moving average (4 hours). There is a major rising channel forming with support near $40.80 on the 4-hour chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $40 and $38 support levels. AVAX Price Could Extend Rally
After a downside correction, Avalanche’s AVAX found support near the $38.00 zone. A low was formed near $36.48, and the price started a fresh increase.
The price gained over 10% and broke many hurdles near $40. It even outperformed Bitcoin and Ethereum. There was a clear wave above the 76.4% Fib retracement level of the downward move from the $45.33 swing high to the $36.48 low.
AVAX price is now trading above $42 and the 100 simple moving average (4 hours). There is also a major rising channel forming with support near $40.80 on the 4-hour chart of the AVAX/USD pair.
Source: AVAXUSD on TradingView.com
On the upside, an immediate resistance is near the $45.40 zone. The next major resistance is forming near the $46.80 zone. If there is an upside break above the $45.40 and $46.80 levels, the price could surge over 10%. In the stated case, the price could rise steadily toward the $50 level or even $52.
Dips Supported in Avalanche? If AVAX price ...
|Smart Contract Tokens Solana and Avalanche Surge, Closing in on BNB and ...
Recently, the smart contract platform tokens solana (SOL) and avalanche (AVAX), both considered layer one (L1) crypto assets, have been narrowing the gap with ethereum (ETH), the most prominent smart contract platform in terms of market valuation. Over the past month, solana has experienced a 42% surge, while avalanche has soared by 104%.Solana and Avalanche Make Strong Comeback in Crypto Market
Following the collapse of the Terra blockchain and the FTX failure, SOL and AVAX suffered substantial declines against the U.S. dollar. These cryptocurrencies, once ranked among the top ten, were briefly ousted from their elite top ten status.
However, they have since reclaimed their positions among the top ten leading tokens, with SOL currently in fifth place, having overtaken XRP, and AVAX at ninth, excluding Lido's staked ether (STETH) from the count.
Since the beginning of 2023, both SOL and AVAX have registered impressive triple-digit growth. Solana has escalated by 734% since Jan. 1, 2023, while avalanche has increased by 306% year-to-date, with 104% of this growth occurring in the last month alone.
Solana is now the closest contender to ethereum, needing an additional $4.04 billion to surpass BNB, the fourth-largest crypto asset. However, solana's market capitalization remains $227.6 billion behind ethereum's. At present, SOL is trading 68.20% below its all-time high of $259 per unit, which it reached on Nov. 6, 2021.
Similarly, AVAX is 69.6% below its peak price of $144, rec...
|Avalanche Network Gas Fees Surge Linked to Trader Joe Founder's Social E...
On December 18, the Avalanche network experienced a surge in its average gas fee, reaching an unprecedented 5,110.30 nAVAX, or about $4.41, according to Avascan data.
This substantial increase is attributed to a unique event caused by the founder of the decentralized trading platform Trader Joe, known as @cryptofishx on social media, who introduced an ASC-20 standard inscription called Avascription, with the nickname 'BEEG.'
Avalanche Network Gas Fee Soars Due to BEEG Inscription Event
BEEG, initially introduced as a social experiment without a practical use or a clear roadmap, has experienced a remarkable rise in adoption. Within 2 hours and 15 minutes of its release, 37% of BEEG was minted, getting attention from approximately 4,300 holders.
I know I'm probably public enemy no.1 rn (sorry), but got some good news to share:$BEEG minting seems to be speeding up. We're 37% minted in 2h15m and ~4300 holders which is incredible
I was thinking we might take weeks to mint out but looks like we'll get there much sooner… pic.twitter.com/DMZDNB2wDp
— fish (@cryptofishx) December 17, 2023
The increase in activity caused congestion on the Avalanche network, leading to an apology from @cryptofishx and initiating discussions to address the emerging challenges.
This development is part of a larger trend affecting several Ethereum Virtual Machine (EVM) chains. Data from Dune Analytics indicated that gas spent on inscriptions across these chains soared to a record high of $8...
|Avalanche Open Interest Just Smashed A New ATH, Can AVAX Reclaim $100?
Avalanche has seen its native token AVAX rise rapidly over the last 30 days to make its way into the top 10 tokens by market cap. This rally was not exactly out of the blue as activity had begun to pick up once more on the Avalanche network. During this time, the open interest has risen rapidly as well, eventually touching a new all-time high.
Avalanche Open Interest Rises To $413 Million
On Tuesday, the Avalanche open interest rose to the highest level since its launch following AVAX’s surge to $40. The open interest reached $413 million on December 12 after continuously rising for over a month. The surge happened in tandem with the price surge and has made daily highs almost every day in December.
The surge began in October after trailing around $70 million for the better part of a month. However, in November, there was a noticeable change in the open interest as traders began to take their positions in the digital asset.
Between November and December, the AVAX open interest has risen by over 400%. On Tuesday alone, the open interest grew another 19%, bringing the total Avalanche open interest across all exchanges to 11.43 million AVAX.
73% of the total open interest is actually coming from only two exchanges; Binance and ByBit. According to data from Coinglass, Binance accounts for 44% of the total OI at $184 million (4.54 million AVAX), while ByBit accounts for 28.8% of the OI with $119.67 million (2.95 million AVAX). BingX, OKX, and Bitget make up the rest of th...
|AVAX Skyrockets 50% Weekly, is $40 About to Fall? (Avalanche Price Analy...
AVAX impressed with its rally this year and seems unstoppable.
Key Support levels: $31Key Resistance levels: $41, $551. Price at a Critical Junction
AVAX recovered in full Monday's crash when most of the market ended up in red. Since then, bulls took the price higher and is now found under the key resistance at $41. This spectacular performance made AVAX increase by 50% compared to seven days ago.
Chart by TradingView
2. Momentum is Bullish
It seems unlikely that this rally will stop here, but to continue, the key resistance has to fall soon. So far, buyers remain very interested at these levels.
Chart by TradingView
3. Unprecedented Volume
November and December saw AVAX reach buy volumes not seen since the last bull market. This explains its fantastic rally and places this cryptocurrency in the top 10 coins by market capitalization.
Chart by TradingView
The bias for AVAX is bullish.
Short-Term Prediction for AVAX Price
Avalanche may quickly rush to $55 if the current resistance falls. If so, it would bring this cryptocurrency one step close to a three-digit valuation which appears within reach for 2024.
The post AVAX Skyrockets 50% Weekly, is $40 About to Fall? (Avalanche Price Analysis) appeared first on CryptoPotato.
|AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong
AVAX price rallied over 50% and traded above the $40 level. Avalanche is now correcting gains, but the bulls might remain active near the $32 support zone.
AVAX price gained pace above the $30 and $40 levels against the US dollar. The price is trading above $30 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $35.00 on the 4-hour chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $35 and $30 support levels. AVAX Price Corrects Lower
In the past few days, Avalanche’s AVAX saw a strong increase above the $25 resistance zone. It gained over 50% and broke many hurdles near $30. It even cleared the $40 level before the bears appeared.
A new multi-month high was formed near $43.06 before the price started a downside correction, like Bitcoin and Ethereum. There was a 15% drop and the price traded below the $38 level. There was a move below the 23.6% Fib retracement level of the upward move from the $21.24 swing low to the $43.06 high.
AVAX price is still trading above $30 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $35.00 on the 4-hour chart of the AVAX/USD.
Source: AVAXUSD on TradingView.com
On the upside, an immediate resistance is near the $38.00 zone. The next major resistance is forming near the $40.00 zone. If there is an upside break above the $38.00 and $40.00 levels, the price could surge o...
|Here's Why Avalanche (AVAX) Is Up 80% Weekly
Avalanche has been on a tear lately. The native token of the Layer 1 network - AVAX - stood out as one of the major crypto assets resilient to the recent drawdown in the market. It has recorded a remarkable weekly gain of over 82%, in stark contrast to the declining performance of its peers.
AVAX surged to $40.26, surpassing Dogecoin and securing its position as the ninth-largest crypto by market capitalization. In the last 24 hours alone, the token has seen a more than 10% increase.
Avalanche's on-chain metrics appear to be firmly supporting the uptrend.
The number of AVAX transactions surpassing $100,000 peaked at almost 1,000. While the current level remains below the high observed in the previous bull market, this increase is seen as a positive sign of the ongoing bullish trend.
On the ecosystem side of things as well, traditional financial heavyweights JPMorgan and Citi have roped in Avalanche Foundation for their real-world asset (RWA) tokenization initiatives, which could have further boosted optimism among investors.
Avalanche's strategy to incentivize its validators has also resulted in a notable increase in its market value. As of December 7, this fourth-generation proof-of-stake blockchain has allocated more than $275 million in AVAX to reward its validators over the past year, a substantial contrast to its earnings of $11.5 million in user fees.
This bullish trend has not only impacted the cryptocurrency itself but has also extended to Avalanche's leading d...
|Avalanche (AVAX) Soars by Another 14%, Bitcoin (BTC) Returns to $42K (Ma...
Bitcoin's price struggles continued in the past 24 hours as the asset slumped to just over $40,000 but managed to recover roughly two grand since then.
Most altcoins are in a similar position, but some have skyrocketed quite a bit within the past day or so. In the case of Avalanche, the asset has only doubled down on its recent momentum.
BTC Back to $42K
The primary cryptocurrency went through a highly volatile and positive week at the start of December, which drove it from under $38,000 to a multi-month peak at $44,700. The culmination came on Saturday, when BTC went inches away from tapping $45,000 for the first time since May 2022.
However, the bears finally emerged on the scene and didn't allow any further increases. Just the opposite, bitcoin remained relatively still during the rest of the weekend but started to lose value quite rapidly on Monday.
This resulted in a price dump of under $41,000 for the first time in a week. After a brief recovery, BTC headed south once again and slumped to an 8-day low of $40,250 (on Bitstamp).
Nevertheless, the asset managed to bounce off and currently sits close to $42,000 once again. Its market capitalization has returned to $820 billion, but its dominance over the alts has taken a major hit and is now under 52%.
BTCUSD. Source: TradingView
AVAX on a Roll
Most alternative coins dumped just as hard as BTC yesterday, if not more. Today, though, the landscape for some is quite different.
Binance Coin, Cardano, and Polkadot have soared by...
|Avalanche Bucks Market Correction, Large AVAX Transactions Hit Record Hi...
Amidst a market-wide correction, Avalanche's native token - AVAX - has emerged as an outlier, surging by almost 12% over the past day, pushing its yearly gains to 165%. The asset was currently trading at $35.63 - a level not seen since May 2022.
AVAX has not only bucked the prevailing trend but also thwarted sell-off pressure following the recent token unlock event scheduled on November 24, during which approximately $213.35 million worth of AVAX was released into the market.
AVAX Transactions Soar
Coinciding with the price trajectory, the number of large AVAX transactions was also found to be on the rise. Data from Intotheblock revealed that AVAX transactions exceeding $100,000 reached a peak of nearly 1,000. The current level, however, is still lower than what was observed during the peak of the previous bull market.
Although it has not yet reached the heights seen in the previous bull market, this uptick is viewed as a favorable indication of the bullish trend, according to the crypto intelligence firm's latest analysis.
'The number of large $AVAX transactions is on the rise, peaking at nearly 1000 transactions bigger than $100k last week. While this is still not close to levels of the last bull market, it is a positive sign for the bulls.'
So far, AVAX has defied market trends to emerge as one of the best-performing assets. Its price was boosted by increased on-chain activity. Both new and active addresses have recorded a modest uptick this week. Total addresses with bala...
|Avalanche Rules Top 10 Ranking With 61% Weekly Gain – Here's The S...
Among the top 10 cryptocurrencies this week, Avalanche (AVAX) is in the lead after rising by more than 60% in the last seven days. Its price has risen to $36, placing it in the top 10 digital assets in terms of market capitalization.
AVAX prices have been trending higher, which has helped many holders realize gains. The general attitude has not changed notwithstanding this rise in the proportion of holders in profit.
More than half of Avalanche holders kept their assets at a profit, according to recent data from IntoTheBlock. Based on its data, around 70% of holders have experienced financial success.
Avalanche Token Breaks Resistance
Due to this week's outstanding results, there has been a substantial trade volume, which is a crucial indicator that the uptrend will hold. Notably, it has also propelled the altcoin past its initial lower high, which happened in August 2022 during the bear market's accumulation phase.
For almost three weeks, the price of Avalanche token fluctuated within a narrow range of $20 to $24, suggesting a lack of strong buying and selling pressure in the market.
AVAX recently gained traction and had a 15% gain; as a result, the price broke through its important resistance level. The coin saw another 15% surge when the price was hovering at its resistance level of $28.
Many causes, all closely related to major developments in its ecology, are responsible for Avalanche's steady climb. The platform's rally is a result of its strategic concentration on tw...
|Cardano and Avalanche Soar, Outperforming Top 20 Cryptos in Weekly Surge
Market statistics indicate that two specific crypto assets among the top 20 in market capitalization, avalanche and cardano, have experienced substantial gains this past week. Avalanche has surged 48.7% and cardano has increased by 50.4% against the U.S. dollar in the previous seven days.Top Performers of the Week: Cardano and Avalanche Record Substantial Rises
Currently, the 11,380 crypto assets listed on 940 crypto exchanges hold a collective value of $1.71 trillion. Among the top 20 tokens, bitcoin (BTC) rose 10.2% this week, and ethereum (ETH) saw an 8.3% increase. It was cardano (ADA) and avalanche (AVAX) that stood out, as both coins recorded double-digit gains against the U.S. dollar.
ADA is up 50.4% after reaching a high of 63 cents on Dec. 9, 2023. Over the past month, ADA has climbed 60.4%, and in the last year, the token has increased 89.1% against the dollar. Cardano's market capitalization is approximately $20.75 billion, placing it ninth among the top ten cryptocurrencies.
In the last day, ADA has seen $1.39 billion in 24-hour trade volume. While ADA is up 89.1% for the year, the crypto asset is still down more than 80% from its all-time high. On Sept. 2, 2021, it reached $3.09 per coin, and today, it is trading at 59 cents per unit. Cardano is up 2,964% from its price of about 1.9 cents recorded three years ago.
Avalanche (AVAX) has increased 48.7% against the dollar this week, and with a market capitalization of $12 billion, it is the 11th largest crypto ass...
|Avalanche Pays Premium to Incentivize Validators, Will AVAX Soar To $145...
Avalanche, the fourth-generation proof-of-stake (PoS) blockchain, incurs significant costs to incentivize its validators. Token Terminal data on December 7 shows that in the past year, the smart contract platform paid over $275 million in AVAX to compensate its validators despite generating only $11.5 million in user fees.
Avalanche Is Paying A Premium To Incentivize Validators
Although it appears that Avalanche is paying a premium for validators, this is critical in securing the network and ensuring all transactions are confirmed. Overall, and being a proof-of-stake network reliant on node operators for security and decentralization, Avalanche's decision to pay validators a premium is, as its users demand, to maintain a robust network of nodes.
According to CoinMarketCap data, the network has a market cap of over $9.8 billion. It is currently in the top 10 by liquidity, surpassing Polygon and Polkadot, competing low-fee alternatives. As it is, by incentivizing validators with generous rewards, Avalanche ensures that there is a strong pool of nodes available to maintain the network's operation.
Through these validators, AVAX holders can stake and receive rewards. As of December 7, there are over 1,539 validators currently staking over 248 million AVAX and earning 7.84% APY. At the same time, statistics show that Avalanche has a staking ratio of 57.11%. Most AVAX in circulation are used to secure the network at this level.
While AVAX incentivizatio...
|BTC Price Shot Up to $44K While AVAX, DOGE, SHIB Explode by Double Digit...
Bitcoin went on another run-up that resulted in jumping to just above $44,000 for the first time since the beginning of May 2022.
The altcoins have also turned green, with massive gains from the likes of SOL, AVAX, DOGE, SHIB, and many others.
BTC to $44K
December has been a month to remember so far for the primary cryptocurrency. On Friday - December 1 - the asset stood at $37,500, but it started to gain value by the end of the day and on Saturday.
While Sunday was a little less volatile, Monday morning brought more gains, and bitcoin jumped to above $40,000 for the first time in 19 months. The landscape kept getting better and better, and BTC soared past $42,000 by Tuesday.
The bears were nowhere to be found at this point, and bitcoin used the opportunity to initiate another leg-up that resulted in jumping to over $44,000. More specifically, the asset went as high as $44,400 on Bitstamp, which is a new 19-month peak.
As of now, the cryptocurrency trades inches below $44,000. Nevertheless, its market capitalization has skyrocketed above $850 billion, while its dominance over the alts is all the way up to 53.6%.
BTCUSD. Source: TradingView
Alts See Nothing But Green
The fact that BTC's dominance has been steadily on the rise in the past week or so doesn't mean that the alts have not produced any substantial gains. The past 24 hours are a clear example of this, as almost all alternative coins are well in the green.
Ethereum has neared $2,300 and a 3.3% daily increase. Similar ...
|AVAX Uprising: Crypto Analyst Predicts Bullish Wave To Push Price To $30
The Avalanche (AVAX) price has performed reasonably well this year, going from a low of around $9 to as high as $24 before correcting back downward. Since the correction, the altcoin has been trading in a tight range around $20 and $21. However, this might not continue for much longer following one crypto analyst’s prediction.
An AVAX Bullish Wave Is Rising
Crypto analyst Babenski has unveiled their bullish prediction for the AVAX price going forward. According to the analyst, the digital asset could be poised for an incredible run that could break multiple bearish resistances to bring its price to $30.
Babenski’s analysis hinges on the EMA100 (Exponential Moving Average) which they identify as providing dynamic support for the altcoin. This began during the October rally where prices started rising and AVAX did not lose the EMA100 despite multiple corrections.
Even on the 4-hour chart that the analyst presents, the altcoin’s price also touched down toward the EMA100. But once again, this dynamic support held as the price bounced off and continued on its merry way. This suggests a lot of support for the asset at this level.
Additionally, the crypto analyst reveals that the AVAX price has also broken out of a bullish pennant. This is shown in the chart as the price resumed its uptrend above $21. This breakout “Looks bullish in short term,” according to the analyst, and could send the price to $30.
However, the bullish trend is not the only one ...
|AVAX Price Prediction: Avalanche Rally Just Getting Started?
AVAX price is showing positive signs above the $20 support. Avalanche bulls seem to be in control, and they might aim for a rally toward $25.
AVAX price is showing positive signs above the $20 level against the US dollar. The price is trading above $21 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $20.60 on the 4-hour chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if there is a clear move above the $22.50 and $23.00 resistance levels. AVAX Price Signals Fresh Rally
After a strong increase, Avalanche’s AVAX faced resistance near the $24.00 zone. It started a downside correction from $24.05 but remained in a positive zone, like Bitcoin and Ethereum.
There was a drop below the $23 and $22 levels. The price declined below the 50% Fib retracement level of the upward move from the $15.60 swing low to the $24.05 high. It even spiked below the $20 support zone. However, the bulls were active above $18.80.
AVAX price found support near $18.80 and the 61.8% Fib retracement level of the upward move from the $15.60 swing low to the $24.05 high. It is again moving higher and trading above the $20 level.
There was a move above the $21 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $20.60 on the 4-hour chart of the AVAX/USD pair. On the upside, an immediate resistance is near the $22.50 zone.
Source: AVAXUSD on TradingV...