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Information about Avalanche (AVAX)
Avalanche is an open-source platform for developing decentralized finance (DeFi) apps, financial products, and transactions, as well as other services. Avalanche was created to become a global exchange that allows anyone to launch a DApp, support the trade of any type of property and control it in a decentralized way by using smart contracts and other advanced technologies. The developers claimed that Avalanche would be the first smart contract to complete a transaction in less than a second.
Avalanche was founded and developed by a group of computer science experts and PhDs from prominent US universities. It features CEO Emin Gün Sirer, who successfully developed and implemented the first cryptocurrency that used Proof-of-Work (PoW) to mint coins, and COO Kevin Sekniqui, a doctorate candidate with extensive software experience at companies like Microsoft and NASA JPL.
AVAX is the original token of the Avalanche platform, which serves as a payment and reward system for users and implements various tasks within Avalanche’s protocols. It serves the following purposes:
News
Avalanche (AVAX) is priced at 17.19 USD, down 25% in two weeks. Resistance at 22.87 USD has limited any recovery attempts, causing investor sentiment to remain low.
With only 3% of AVAX holders currently in profit, selling pressure is reduced, but the bearish momentum indicated by a declining RSI suggests possible further price drops, especially if it falls below 16.25 USD.
Vitalik Buterin has unveiled a roadmap for Ethereum’s Layer-2 ecosystem focusing on decentralization, security, and cost-efficiency. Following security breaches, Hyperliquid has enhanced its security measures to regain user confidence in decentralized finance.
This week, Ripple unlocked 1 billion XRP, increasing the selling pressure on the token. Research indicates that 90% of such unlocks have historically led to declines in price, highlighting the bear market conditions that prevail.
Avalanche’s stablecoin supply increased significantly over the year, yet AVAX’s price has dropped. This discrepancy highlights that although liquidity is rising, it is not driving demand for AVAX primarily due to limited active involvement in DeFi.
Analysts believe that the crypto market may stabilize by June if ongoing tariff negotiations lead to improved investor confidence, despite current pressures impacting the market.
AVAX is positioned for potential short-term gains due to Bitcoin’s movement near 83,000 USD and GameStop’s announcement to hold Bitcoin as a treasury asset.
As Bitcoin holds steady at 83,000 USD, institutional interest grows. GameStop’s decision has led to a new record in Open Interest, indicating market strength and bullish sentiment.
With increased adoption and lower transaction fees, AVAX addresses and transactions surged, offering a promising long-term outlook as AVAX’s performance remains closely tied to Bitcoin’s momentum.
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