Despite market shifts, Avalanche (AVAX) has demonstrated an impressive 132% price increase within the decentralized finance (defi) space.
Avalanche’s Rise
Over the past three months, Avalanche has emerged as a top choice for DeFi traders, garnering attention within the crypto community.
One key factor behind Avalanche’s appeal is its high throughput and scalability, which has led to a surge in monthly active users (MAU) on its platform. The Avalanche Foundation plays a crucial role in monitoring its network.
Furthermore, the recent announcement by the Avalanche Foundation to acquire a collection of meme coins through its “Culture Catalyst” initiative underscores its commitment to diversifying and exploring new opportunities within the space.
These meme coins are carefully selected based on specific criteria such as the number of holders, liquidity thresholds, project maturity, fair launch principles, and overall social sentiment. This unconventional investment strategy aims to tap into the collective spirit and shared interests of diverse crypto communities.
Avalanche Price Update
As of the latest data from CoinGecko, Avalanche is currently valued at $36.36, with a 4.32% increase in the past seven days. The market cap has exceeded $13 billion, supported by a circulating supply of 370 million AVAX. The key levels to watch are $31 as support and $48 as resistance.
On the technical side, the Relative Strength Index (RSI) value of 61 on the weekly timeframe indicates a balanced market sentiment.
Notably, Bitget Wallet has integrated support for Avalanche chain tokens through Bitget Swap, providing users with real-time chart data and seamless access to leading trading protocols on Avalanche, including Trader Joe, SushiSwap V2, and 1inch. The wallet also facilitates same-chain and cross-chain transactions for Avalanche mainnet tokens, offering a fast, convenient, and gas-free trading experience.
This integration paves the way for a broader range of possibilities for traders and investors looking to leverage the capabilities of Avalanche within the rapidly evolving crypto landscape.
