- AVAX has reportedly received $25 million in institutional investments.
- Avalanche has been up 12.19% in the last 24 hours.
Over the last quarter, the crypto market has been engulfed by a succession of negative occurrences. While the fall the day before hurt the industry’s mood. Several digital assets have fulfilled the bull’s role that has rebounded quickly. Avalanche has inserted its name into the ever-growing list of industry top achievers. AVAX is now the 10th most valuable cryptocurrency for market capitalization. Meanwhile, crypto enthusiasts are debating the driving forces for the digital asset’s unwavering recovery.
Surpasses Terra to Claim 10th Position
In terms of market value, Avalanche has surpassed Terra to claim the “10th” spot. Terra had been performing exceptionally in the last few days. AVAX’s double-digit growth has grabbed the public’s curiosity. The crypto asset’s market capitalization is now at $19,488,181,668, with a 24-hour trading volume of $1,067,620,950.
As previously said, many are now speculating about what may have pushed the bears out of the market. Speaking of stimulants, the network has recently seen increased institutional demands that may be a prospective stimulant. AVAX has reportedly received $25 million in institutional investments during the last week, according to some sources. In this way, it became the second-best performer.
NFTs might be further catalysts. Over the week, 5,565 copies of the Underground were sold for an average price of $274.96. Pizza Game Chefs has sold 3,315 units at an average of $680.32 per unit in its first year of operation. Thus, there has been a positive reaction to ventures like Wonderland and Avalanche.
According to CoinMarketCap, the Avalanche price today is $81.20 USD with a 24-hour trading volume of $1,507,074,104 USD. Avalanche has been up 12.19% in the last 24 hours.
