- Avalanche (AVAX) has reached its new all-time high.
- AVAX has soared to 28.1% within a week.
- New partnerships and a $230 million investment round might be the reason for price surge.
We all know that a huge difference can be witnessed in the crypto industry just in a few months. Significantly, the surge in price and drop in price value is usual when it is all about cryptocurrencies. Having technology as an advantage crypto market has grown exponentially with its developments in the network. Each network upgrades in advancements and adds new features to its ecosystem to get notified in the eyes of investors.
In addition to this, blockchain technology has created an impact among investors that it produces security and high-speed transactions. Integrating blockchain into the network results in securing the platform, low fees, and high-speed transactions. For instance, Avalanche (AVAX) is also a relatively new blockchain that focuses on speed transactions and low fees. Moreover, AVAX has now touched its new all-time high in price value to $79.31 just a few hours ago.
Avalanche (AVAX) is a blockchain ecosystem built to be a safe, globally dispersed, and decentralized network. The protocol is unique in that it uses three different blockchains to offer an interoperable and trustless framework on which developers can build. The native coin of Avalanche is the AVAX token, which acts as a payment solution for users.
Current Market Status
At the time of writing, the trading price of AVAX was $73.80 with a trading volume of $2,605,430,173 in the past 24-hours. Moreover, the current price of AVAX is 7.1% lower than its all-time high at $79.31. The current circulating supply of AVAX coins is 220,286,577 and it holds 11th rank.
The chart depicts the bullish pattern for the past week. The price value of AVAX has surged to 8.3% in the last 24-hours whereas with 7-day statistics the price has soared to 28.1%. Besides, the price value of AVAX has surged from $61.65 to $79.31 within a week looks impressive.
Reasons Why AVAX Boosted
Avalanche has been the center of the market for the past couple of weeks. It has experienced a rise in popularity following its focus on DeFi token. Moreover, Avalanche soared with new partnerships, where one such partner is the popular DeFi protocol Aave. Adding to that, the firm disclosed a $230 million investment round for the improvements on decentralized finance and applications on Avalanche blockchain.
However, the surge in the price value of AVAX has given a sweet spot for the users. The ongoing developments and upgrades on features have made users expect more price hikes. Besides, AVAX has the potential to hit a new all-time high within a few days.
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