Avalanche (AVAX)
Avax soars with partnership, Bitcoin stabilizes with uptrend
The week starts with Bitcoin stable and good news for ETH and AVAX.
Check out the summary of the cryptocurrency market:
Bitcoin price
The price of bitcoin starts the week below US$30,000, fluctuating between US$29,800, up 5.53% in the last 7 days, but down 1.30% in the last 24 hours, according to data from Coingolive.com.
For technical analyst Michael van de Poppe, a good entry point to bet on the rise of bitcoin would be at $28,600, as BTC is trending upwards despite the slight drop at the beginning of the week.
17 million ethers still staking
The second-largest crypto asset remains above $2,000 with a weekly gain of 12%.
The upgrade that unlocked millions of ethers locked in staking has already resulted in the withdrawal of over 1 million ethers.
However, there are still more than 17 million staking, corresponding to 15.41% of the total ethers in circulation. This is a number well below the 61% of current supply trapped in staking by Avalanche (AVAX) or the 72% by rival Solana (SOL).
That is, there is still room for the Ethereum staking area to grow and that is what some investors are betting on. So much so that one of the tokens that goes up the most today is RPL, aimed at ether staking.
Another data that shows the trend of improvements in staking is that the number of withdrawals of ether is decreasing, with a high on the 15th with 392,800 eth withdrawn.
Altcoin Spotlight: Avalanche
Last week, investment firm T Rowe Price, with about $1.27 trillion under management, began testing an Avalanche test subnet for blockchain trade execution and settlement.
The crypto asset has risen 7% in the last 24 hours and accumulates gains of 16% in the weekly. Technical indicators (RSI) show that AVAX is close to the “overbought” level.
