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Avalanche (AVAX)

Avalanche [AVAX] hits ATH after securing $230M worth funds

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Avalanche announced raising $230M led by Polychain Capital and Three Arrows Capital. AVAX coin recorded an ATH since. The new investment is distributed to the Avalanche ecosystem.

R/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, Lvna Capital, and a group of angel investors and family offices joined the leading ventures in this investment round. The new investment is the result of a private token sale in June 2021. The Avalanche Foundation is responsible for distributing the new fund. Investments will be distributed between projects on Avalanche with a focus on supporting and accelerating the growth of DeFi on this blockchain.

Supporting Projects on Avalanche

Raising funds is always good news for blockchain communities. When a public blockchain receives funds in terms of token sale or other means, developers and end-users find more opportunities for earnings and growth. The new investment in Avalanche from leading ventures like Polychain Capital has resulted in good growth opportunities, too. The AVAX token recorded an ATH, currently trading at $64.3, that can be the result of token sales that happened in June. But it’s not the only result.

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Avalanche Foundation will distribute the $230M investment between projects with numerous goals on the blockchain. Supporting the growth of DeFi is one of the most important goals. But enterprise applications and similar solutions have the opportunity to receive grants, too. The support will be done in the form of grants, token purchases, and other investment methods.

Emin Gün Sirer, Director at the Avalanche Foundation, said:

“Despite being years younger than its peers, Avalanche has quickly turned promise and potential into real-world impact and value creation for DeFi users and developers. The community of builders rallying around the network is a testament to its competitive edge, and there is still so much potential yet to be tapped at the intersection of institutional and decentralized finance on Avalanche.”

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Avalanche is one of the fastest-growing blockchain ecosystems in the industry. Launched in September 2020, it now supports about 270 big projects. Some of the most famous DeFi projects are already building on this blockchain: ether, SushiSwap, Chainlink, Circle, and The Graph.

The new investment by Polychain Capital and other private token buyers can help the Avalanche ecosystem grow faster. New projects and small teams now have the opportunity to launch their projects in this blockchain and receive grants for support. It can create a good hype around the blockchain and ultimately result in more ATHs for the AVAX token, too.

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Avalanche (AVAX)

Avalanche dethrones Terra, but here’s what may be next

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Solana has been tough competition in the DeFi space, but Avalanche is looking to take it on soon. Previously, it only had Terra as a competitor since it was still far away from overtaking Solana. Interestingly, Avalanche might do that if it manages to maintain its growth on the charts.

Avalanche in Decentralized Finance

Curiously, Solana replaced Terra to take the third spot. And now, Avalanche has pushed Terra further below as it has taken its fourth spot. Even so, Ethereum continues to dominate the DeFi space.


Top 10 DeFi chains | Source: DeFi Llama – AMBCrypto

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At the time of writing, Avalanche was only $1.1 billion away from taking the third spot from Solana.

Over the month, Avalanche’s TVL has recorded a 62% growth from $8 billion to hit $13.9 billion.

Avalanche TVL | Source: DeFi Llama – AMBCrypto

Avalanche was led by the explosive rise of some major protocols on the network such as Cook finance, Blizz Finance, and Wonderland, among others. Ergo, it is seeing a myriad of investors participating in the network, making the network’s growth actually organic.

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Its overall network development is also decent, growing every day. However, when it comes to how it can be a threat/competition to Solana, the answer isn’t exactly one-directional. Especially since Solana and Avalanche are equally tough.

For starters, the participation boom on Avalanche has led to the revenue figures crossing $1 million and touching $1.9 million at its peak. Solana, on the other contrary, flashed figures of only $280k per day.

Avalanche and Solana total revenue | Source: TokenTerminal

But, in terms of overall trading volumes, the figures are led by Solana with Avalanche trailing somewhat. 

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Avalanche and Solana total trading volumes | Source: TokenTerminal

Notably, social volumes also seemed to indicate that Solana has been slightly more popular and wanted than Avalanche.

Avalanche and Solana social volumes | Source: Santiment – AMBCrypto

However, Avalanche still remains comparatively more attractive given its growing adoption and integration. Consider the latest example, for instance – OlympusDAO.

This is more so because it offers significantly higher risk-adjusted returns, when compared to Solana. This does play an important role in driving investors towards the network.

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Additionally, with a growth rate of 17% observed over the last four days, AVAX, at press time, was only 9% away from hitting a new all-time high. Hence, the future might see more investors entering the Avalanche market when that happens.

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Avalanche (AVAX)

Avalanche price analysis: AVAX unable to break through $124 resistance

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  • Avalanche price analysis is bullish today.
  • AVAX/USD is stuck at $124 resistance level.
  • Support is present at $119.5.

The AVAX price analysis is bullish for today, but despite the bullish momentum, the coin is finding it hard to move past the $124 resistance. The current bullish momentum started on 29th November but lost its energy on 30th November as the buying slowed down, which is the driving force behind it. However, today bulls again gathered some strength and took the AVAX price noticeably upwards, and now they are facing trouble at a $124 crucial resistance level.

AVAX/USD 1-day price chart: Bulls need more strength

The 1-day Avalanche price analysis shows bulls have covered an upwards range from $121 to $124 today will swinging as high as $127 at a point today. The AVAX/USD pair is trading hands at $124 at the time of writing, reporting an increase in price value by 3.94 percent. On the other hand, the week

ly gain is quite low, accumulating to only 0.68 percent, the reason being the downward trend during the start of the week when AVAX was reverting back from its ATH at $135. AVAX’s trading volume has increased by almost 52 percent and the market cap by 5.93 percent over the last 24 hours.

Avalanche price analysis: AVAX unable to break through $124 resistance 1

The volatility is high for the AVAX/USD pair as the Bollinger bands are expanded with the upper band at $138, which represents resistance level as the price is below this level, and the lower band is at the $85 mark. The mean average of the indicator represents support for the crypto pair at the $111 mark.

The relative strength index (RSI) is trading on a slight upwards slope, hinting at a little more buying activity, which started on 29th November in the market. The RSI is still in the upper half of the neutral zone, and for the coin to move above $124, the RSI needs to be near the borderline of the overbought region.

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Avalanche price analysis: Recent developments and further technical indications

The 4-hour price chart for Avalanche price analysis shows that the coin spiked high after the price breakout upwards, but after 4-hours, selling pressure also kicked in as the resistance at $124 is strong, and AVAX needs more support for a breakthrough.

Avalanche price analysis: AVAX unable to break through $124 resistance 2
AVAX/USD 4-hours price chart. Source: TradingView

The volatility is increasing for AVAX/USD, The upper Bollinger band is now at $217, representing resistance for AVAX as the price trades below the upper band, and the lower Bollinger band is present at the $102 mark. The RSI curve is also downwards, indicating the selling pressure at the moment, as it travels down at index 60.

Avalanche price analysis conclusion

The Avalanche price analysis shows the coin is in bullish momentum, but bulls need more support to make a push through above $124 resistance. The 4-hour chart also shows high pressure at this time, but there are ample chances for AVAX bulls to get the required support in the coming hours, and the AVAX may start its journey above $124.

The volatility is high for the AVAX/USD pair as the Bollinger bands are expanded with the upper band at $138, which represents resistance level as the price is below this level, and the lower band is at the $85 mark. The mean average of the indicator represents support for the crypto pair at the $111 mark.

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The relative strength index (RSI) is trading on a slight upwards slope, hinting at a little more buying activity, which started on 29th November in the market. The RSI is still in the upper half of the neutral zone, and for the coin to move above $124, the RSI needs to be near the borderline of the overbought region.

Avalanche price analysis: Recent developments and further technical indications

The 4-hour price chart for Avalanche price analysis shows that the coin spiked high after the price breakout upwards, but after 4-hours, selling pressure also kicked in as the resistance at $124 is strong, and AVAX needs more support for a breakthrough.

Avalanche price analysis: AVAX unable to break through $124 resistance 2
AVAX/USD 4-hours price chart. Source: TradingView

The volatility is increasing for AVAX/USD, The upper Bollinger band is now at $217, representing resistance for AVAX as the price trades below the upper band, and the lower Bollinger band is present at the $102 mark. The RSI curve is also downwards, indicating the selling pressure at the moment, as it travels down at index 60.

Avalanche price analysis conclusion

The Avalanche price analysis shows the coin is in bullish momentum, but bulls need more support to make a push through above $124 resistance. The 4-hour chart also shows high pressure at this time, but there are ample chances for AVAX bulls to get the required support in the coming hours, and the AVAX may start its journey above $124.

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Avalanche (AVAX) Parabolic Rally – Is It Over?

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The crypto market has been seeing important corrections lately, but this did not stop the optimistic predictions from hitting the crypto space.

One of the most successful projects lately has been Avalanche and an important analyst is debating whether the coin can go higher in the near future.

Avalanche (AVAX) price prediction

Crypto analyst Benjamin Cowen addressed whether Avalanche (AVAX) has any gas left in the tank after its parabolic rally.

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Just in case you don’t know, AVAX hit its ATH of nearly $145 over the weekend.

The smart contract platform was trading around $13 at the beginning of August, according to the notes coming from CMC.

Cowen said that AVAX is getting “somewhat extended.”

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On the other hand, he said that Avalanche is at the same level of extension that it was at when it hit $60, and then it more than doubled in price.

Cowen says it would be “concerning” to see the coin get even more extended by continuing to rise in a short period of time.

He also said that AVAX’s US dollar valuation is highly dependent on what Bitcoin (BTC) does.

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“As long as Bitcoin stays above its 20-week moving average, then AXAX can continue to rally until it gets too far gone to sustain it in the short term, and then we’ll have a pullback. But as long as Bitcoin stays healthy, then, of course, AVAX can continue to make a move.”

According to the latest reports coming from the Daily Hodl, Cowen noted that AVAX could go up another 50% against Bitcoin.

AVAX could reach $200

According to the analyst, such a move would price Avalanche at just over $200 if Bitcoin’s value remained steady.

As you probably know by now, BTC has been seeing some corrections lately, but this did not stop excited investors from buying the dip.

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