Connect with us

Avalanche (AVAX)

Avalanche (AVAX) Shoots 12% After Raising $230 Million With Private Token Sale

Published

on


Proof-of-stake (PoS) blockchain network Avalanche is getting major recently with its native AVAX token gaining 50% over the last week. Earlier today, the AVAX token jumped another 12% moving all the way to $68 and entering the list of top 15 cryptocurrencies by market cap.

Since the market crash of mid-July, AVAX has gained 6x or we can say 500%. Analysts believe that AVAX can rally further up to $80 from here.

The price rally comes as Avalance announces a $230 million fundraise with the private sale of its AVAX tokens. Polygon and Three Arrows Capital have been leading the investments in the avalanche ecosystem. Other big private players include CMS Holdings, Dragonfly, R/Crypto Fund, Collab + Currency, Lvna Capital, and many others.

Advertisement

The Avalance Foundation noted that the proceeds from the sale will go towards accelerating growth from DeFi, enterprise applications, and other use cases on the avalanche public blockchain. Besides, Avalanche will build infrastructure for providing technical support. It will also support projects through grants and token purchases. Speaking of the development, 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.”

The Fastest Smart Contract Platform

Just a year to its launch, Avalanche has attained massive growth since September 2020 emerging as one of the fastest-growing blockchain ecosystems. The platform now hosts more than 270 projects.

Avalanche blockchain also hosts some of the top-tier decentralized finance (DeFi) projects SushiSwap, Chainlink, Circle, Tether, etc.

Advertisement

Avalanche claims to be the fastest smart contracts platform in the industry as measured by time-to-finality. Besides being extremely fast, it is very eco-friendly and low cost. Avalanche allows individuals as well as enterprises to create “powerful, reliable, and secure private or public networks” with absolute decentralization. These “subnets” can serve as the foundation of the new ecosystems. Olaf Carlson-Wee, Founder and CEO, Polychain Capital said:

“We are pleased to support Avalanche as the platform continues to grow its vibrant community of open source developers. We look forward to seeing the next generation of applications launching on the platform.”News Source

Avalanche (AVAX)

Ethereum Competitor AVAX Shows Bullish Momentum

Published

on

It’s been revealed that there’s an Ethereum rival that shows massive strength. Check out the latest reports about AVAX below.

The online publication the Daily Hodl notes that Benjamin Cowen said that there’s an Ethereum rival is showing strength as Bitcoin pulls back from its all-time high.

AVAX is showing bullish signs

Cowen said that AVAX, the native token for the smart contract platform Avalanche, is “weathering the storm relatively well.”

Advertisement

Cowen noted that AVAX is trading well above both its 20-week simple moving average (SMA) and 21-week exponential moving average (EMA).

The AVAX bull market support brand

If taken together, the two metrics are what Cowen refers to as the “bull market support band.”

“We also have some wiggle room in the sense that we are above the bull market support band of the AVAX/USD valuation. The 20-week SMA is at $35.85 and the 21-week EMA is at $43.47. What that tells you is that Avalanche has been performing pretty well for the last several weeks.”

He continued and said the following:

Advertisement

“A lot of coins are right above their bull market support band, and they haven’t been performing as well recently. A lot of these things can have some type of seasonality as the money ball just jumps around from project to project, and right now, clearly, AVAX is showing a decent amount of strength.”

Cowen does not predict that AVAX will have a strong move against Bitcoin “in the next month or so.”

Bitcoin price booster

As you probably know by now, the launch of a BTC ETF was the main trigger of Bitcoin’s price according to some analysts.

It’s been also revealed that there’s a new BTC ETF that rolled out the other day.

Advertisement

Valkyrie Investments, which is an alternative asset management firm, launched the country’s second Bitcoin futures ETF, according to CEO Leah Wald.

News Source

Advertisement
Continue Reading

Avalanche (AVAX)

Avalanche (AVAX) Price Is Looking Super Strong, Possesses The Potential To Surge Nearly 65%

Published

on

One of the fastest smart contracts platforms, Avalanche’s first desktop wallet recently launched version 2.0. The new features are said to be pretty compatible with all the DApp on Avalanche blockchain. Hence, the AVAX price could skyrocket to the moon in the coming days.

The asset went parabolic since the price experienced a huge crash during mid-may. After undergoing notable ups and downs, the asset managed to surge beyond $60. However, with the recent dip and correction, the price formed a ‘w-shaped’ pattern and broke above the levels. 

Advertisement
avaxchart

The AVAX platform experienced a huge influx of volume since the mid of august 2021 which gave an immense boost to the price. After the recent retracement from $60 to around $50 and a rebound to prior levels, the asset formed a ‘w-shape’. Moreover, with the recent surge, the asset broke the neckline and is currently on the verge to test the strong resistance levels at $71. 

Also, the price is trending within an ascending channel with a notable rebound from support levels and rejection from resistance levels. If the price maintains the same trend, then the levels at 1.4 FIB levels at $126 could be an achievable target. Hence the Avalance (AVAX) price may regain their lost positions soon. 

News Source

Advertisement
Continue Reading

Avalanche (AVAX)

Avalanche (AVAX) Price Is Looking Super Strong, Possesses The Potential To Surge Nearly 65%

Published

on

One of the fastest smart contracts platforms, Avalanche’s first desktop wallet recently launched version 2.0. The new features are said to be pretty compatible with all the DApp on Avalanche blockchain. Hence, the AVAX price could skyrocket to the moon in the coming days. 

The asset went parabolic since the price experienced a huge crash during mid-may. After undergoing notable ups and downs, the asset managed to surge beyond $60. However, with the recent dip and correction, the price formed a ‘w-shaped’ pattern and broke above the levels. 

Advertisement

Also Read: ZCASH(ZEC), Harmony(ONE) Price Could Fall Into Bearish Trap! What’s Next?

avaxchart
Source: Tradingview

The AVAX platform experienced a huge influx of volume since the mid of august 2021 which gave an immense boost to the price. After the recent retracement from $60 to around $50 and a rebound to prior levels, the asset formed a ‘w-shape’. Moreover, with the recent surge, the asset broke the neckline and is currently on the verge to test the strong resistance levels at $71. 

Also, the price is trending within an ascending channel with a notable rebound from support levels and rejection from resistance levels. If the price maintains the same trend, then the levels at 1.4 FIB levels at $126 could be an achievable target. Hence the Avalance (AVAX) price may regain their lost positions soon. 

The asset went parabolic since the price experienced a huge crash during mid-may. After undergoing notable ups and downs, the asset managed to surge beyond $60. However, with the recent dip and correction, the price formed a ‘w-shaped’ pattern and broke above the levels. 

Advertisement

Also Read: ZCASH(ZEC), Harmony(ONE) Price Could Fall Into Bearish Trap! What’s Next?

avaxchart
Source: Tradingview

The AVAX platform experienced a huge influx of volume since the mid of august 2021 which gave an immense boost to the price. After the recent retracement from $60 to around $50 and a rebound to prior levels, the asset formed a ‘w-shape’. Moreover, with the recent surge, the asset broke the neckline and is currently on the verge to test the strong resistance levels at $71. 

Also, the price is trending within an ascending channel with a notable rebound from support levels and rejection from resistance levels. If the price maintains the same trend, then the levels at 1.4 FIB levels at $126 could be an achievable target. Hence the Avalance (AVAX) price may regain their lost positions soon. 

News Source

Advertisement
Continue Reading