Avalanche is on the rise, and it’s making waves in the crypto world. With an upcoming network upgrade, the aim is to lower costs for launching Layer 1s and boost liquidity. Many traders see this altcoin as a hidden gem, with some predicting it could hit $100 this month.
Current Prices:
- $AVAX Avalanche: $49.79 (-4.76%)
- $BNB BNB: --%
- $SOL Solana: $221.91 (-1.72%)
Avalanche (AVAX/USD) is gaining momentum. Strong fundamentals and positive community sentiment are driving this bullish trend.
Cryptocurrency Market Data:
- Avalanche AVAX/USD: $50.36, Market Cap: $20.6 billion, 24-Hour Trend: +2.9%, 7-Day Trend: +19.3%
- Solana SOL/USD: $224.32, Market Cap: $106.6 billion, 24-Hour Trend: -1.1%, 7-Day Trend: -3.2%
- BNB BNB/USD: $647.03, Market Cap: $93.2 billion, 24-Hour Trend: +0.4%, 7-Day Trend: +4.5%
Trader Insights:
Crypto trader Kaleo predicts a "God candle" could push AVAX past $100 by December. Initially, influencer TrendFI expected a rally to $65, followed by a consolidation phase. Now, they believe AVAX will surpass $100 sooner than anticipated. Trader AMCrypto points out that breaking the $55 level could signal the end of a long downtrend, paving the way for a strong rally. Crypto Raven notes a 2.5x increase in Avalanche's value since the elections, highlighting institutional backing as a key factor.
Statistics:
According to IntoTheBlock data, large transaction volumes have surged by 298.6%. Daily active addresses grew by 23.4%. Transactions over $100,000 jumped from 380 to 1,516 in just one day. Right now, 80% of AVAX holders are in profit.
Community News:
The Q3 report from Messari highlights that the Avalanche9000 update is the most significant since the mainnet launch. It simplifies launching Layer-1s and improves liquidity flow. Additionally, Avalanche introduced the Retro9000 Initiative, a $40 million gamified testnet experience encouraging developers to explore Avalanche9000 features for better scalability.
In Q3, the total value locked in Avalanche’s decentralized finance rose from $903.6 million to $1.5 billion. Transaction activity increased by 18%, reaching 1.2 million. By the end of Q3, there were 38 different decentralized exchanges on Avalanche, adding seven over the quarter.
Market News:
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