Anaisomari
Sunday, February 5, 2023
Ledger - Crypto Beginners Pack
  • Crypto News
  • Bitcoin
  • Ethereum
  • NFT
  • DeFi
  • Blockchain
  • Metaverse
  • Altcoin
    • Tether
    • Solana
    • Binance Coin
    • Dogecoin
    • Polkadot
    • Terra
    • Cardano
    • Safemoon
    • Avalanche
    • Chainlink
    • Shiba Inu
    • Litecoin
    • Bitcoin Cash
  • Live Rates
  • Shop
No Result
View All Result
  • Crypto News
  • Bitcoin
  • Ethereum
  • NFT
  • DeFi
  • Blockchain
  • Metaverse
  • Altcoin
    • Tether
    • Solana
    • Binance Coin
    • Dogecoin
    • Polkadot
    • Terra
    • Cardano
    • Safemoon
    • Avalanche
    • Chainlink
    • Shiba Inu
    • Litecoin
    • Bitcoin Cash
  • Live Rates
  • Shop
No Result
View All Result
Anaisomari
No Result
View All Result

Why Avalanche’s [AVAX] ‘alt medal’ doesn’t call for celebration yet

October 1, 2022
in Avalanche
0

Avalanche’s claim as the fastest smart contracts platform may have contributed to its most recent achievement. According to AVAX Daily, a Twitter handle for Avalanche-related news, several AVAX-based projects are now among the top projects ranked by AltRank and LunarCrush, the market insights tracker. 

Top Avalanche Projects by AltRank$PSP @paraswap$AVAX @avalancheavax$ALBT @allianceblock$CRA @PlayCrabada$INSUR @InsurAce_io$FXS @fraxfinance$PLN @PollenDeFi$BIFI @beefyfinance$VSO @versofinance$FITFI @StepApp_#AVAX $AVAX pic.twitter.com/zWc6ZfuRn9

— AVAX Daily 🔺 (@AVAXDaily) September 28, 2022

Based on the update, ten AVAX projects, including ParaSwap, Avalanche itself, and Crabada, made it to the list. Despite the milestone, AVAX did not look like it was ready to fulfil investor expectations, however. 

Consider this – AVAX only appreciated by 1.40% over the last 24 hours. According to CoinMarketCap, the Proof-of-Stake (PoS) cryptocurrency was trading at $17.24, at press time.

Similarly, the 24-hour trading volume was down 42.06% to $202.51 million. However, there has been more to Avalanche than its declining volumes and unimpressive inclines.

Ready for celebrations?

Indications from the chart suggested that AVAX is not ready to cut down on its 88.06% decline from its All-Time High (ATH).

According to the four-hour chart, AVAX’s volatility seemed like it was about to explode at press time. This situation was implied by the Bollinger Bands (BB). If the altcoin manages to continue on its current path, it could offer AVAX traders and long-term investors an opportunity to profit.

Furthermore, the Relative Strength Index (RSI) revealed that AVAX was on the verge of sustaining good buying momentum as it made an effort to move north. At press time, the RSI stood at 45.24.

Source: TradingView

Besides the RSI and BB, AVAX seemed to be building on a climbing support level. While it held a support of $16.82 in September, the same had risen to $17.21 at press time. If such momentum sustains itself, AVAX could follow the price movements that took place between 26 and 27 September.

A quick glance at the metrics 

As per on-chain data, the positive and negative sentiments seemed to be in fierce competition for relevance at press time. According to Santiment, AVAX’s positive sentiment flashed a figure of 4.866 while the negative sentiment stood at 5.134.


Source: Santiment

An unclear sentiment led to a lack of investor urge to pump more liquidity to earn profits. Additionally, the possibility of an AVAX rally is now expected to dwindle considering this on-chain position. 

Furthermore, daily transactions on Avalanche’s C-chain have not been noteworthy. The C-chain is described as the constant smart contracts blockchain on the AVAX ecosystem, one that allows the creation of Ethereum [ETH]-based applications. 

According to SnowTrace, daily transactions that were once 1,100,404 had fallen to 159,137 at press time. Also, AVAX’s impact on the DeFi ecosystem has massively decreased too. 

Hence, it might not be the right time to expect unflinching community support for an AVAX price redemption arc. 

Source: SnowTrace



This news is republished from another source.

Previous Post

Recap of Mainnet by Messari, SmartCon by Chainlink, & Converge22 by Circle

Next Post

SafeMoon price might be in for a short pop higher

Next Post

SafeMoon price might be in for a short pop higher


Name Price
bitcoin
Bitcoin (BTC)
$23,332.00
ethereum
Ethereum (ETH)
$1,666.03
USDEX
USDEX (USDEX)
$1.08
tether
Tether (USDT)
$1.00
binancecoin
BNB (BNB)
$329.52
usd-coin
USD Coin (USDC)
$1.00
ripple
XRP (XRP)
$0.410691
binance-usd
Binance USD (BUSD)
$1.00
cardano
Cardano (ADA)
$0.398040
dogecoin
Dogecoin (DOGE)
$0.095145


Crypto News

Cryptocurrency Price Prediction: ETH, BTC, Cardano, 5th Feb 2023 – BOL News

February 4, 2023

What’s Next For Bitcoin and Ethereum? Experts Weigh In – Coinpedia Fintech News

February 4, 2023

Cryptocurrency fraud: Complaint filed about Rs 3 crore scam – Udayavani English

February 4, 2023

Bitcoin

Craig Wright Wants His $2.5 Billion, Demanding For a Bitcoin Hard Fork – NewsBTC

February 4, 2023

No Result
View All Result

Pages

  • Latest Crypto News
  • Live Rates
  • Privacy Policy
  • Shop
  • Terms of Service

Tether

86% of Tether was concentrated among four people till 2018 – AMBCrypto News

February 4, 2023

Solana

Which Cryptocurrencies You Should Buy – Big Eyes Coin, Ethereum & Solana | Bitcoinist.com – Bitcoinist

February 4, 2023

Looking For A Stable Crypto Investment? Orbeon Protocol (ORBN) And Solana (SOL) Are Your Solutions – Analytics Insight

February 4, 2023

Advertisement

  • Latest Crypto News
  • Shop
  • Privacy Policy
  • Terms of Service

© 2022 Anaisomari.com


No Result
View All Result
  • Crypto News
  • Bitcoin
  • Ethereum
  • NFT
  • DeFi
  • Blockchain
  • Metaverse
  • Altcoin
    • Tether
    • Solana
    • Binance Coin
    • Dogecoin
    • Polkadot
    • Terra
    • Cardano
    • Safemoon
    • Avalanche
    • Chainlink
    • Shiba Inu
    • Litecoin
    • Bitcoin Cash
  • Live Rates
  • Shop

© 2022 Anaisomari.com


  • bitcoinBitcoin(BTC)$23,332.00-0.54%
  • ethereumEthereum(ETH)$1,666.030.02%
  • USDEXUSDEX(USDEX)$1.080.27%
  • tetherTether(USDT)$1.000.06%
  • binancecoinBNB(BNB)$329.52-1.28%
  • usd-coinUSD Coin(USDC)$1.000.00%
  • rippleXRP(XRP)$0.410691-0.31%
  • binance-usdBinance USD(BUSD)$1.000.02%
  • cardanoCardano(ADA)$0.398040-1.34%
  • dogecoinDogecoin(DOGE)$0.0951450.65%
  • matic-networkPolygon(MATIC)$1.250.35%
  • okbOKB(OKB)$41.01-0.28%
  • solanaSolana(SOL)$24.27-2.12%
  • shiba-inuShiba Inu(SHIB)$0.0000153.44%
  • staked-etherLido Staked Ether(STETH)$1,660.480.02%
  • polkadotPolkadot(DOT)$6.86-2.50%
  • litecoinLitecoin(LTC)$98.20-2.95%
  • avalanche-2Avalanche(AVAX)$20.96-2.19%
  • tronTRON(TRX)$0.064045-0.19%
  • uniswapUniswap(UNI)$7.201.63%
  • daiDai(DAI)$1.000.10%
  • cosmosCosmos Hub(ATOM)$14.60-3.00%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,252.00-0.98%
  • chainlinkChainlink(LINK)$7.22-1.07%
  • ToncoinToncoin(TON)$2.32-1.72%
  • ethereum-classicEthereum Classic(ETC)$23.83-0.17%
  • leo-tokenLEO Token(LEO)$3.441.69%
  • moneroMonero(XMR)$171.50-0.13%
  • AptosAptos(APT)$16.84-0.43%
  • bitcoin-cashBitcoin Cash(BCH)$137.54-0.31%
  • stellarStellar(XLM)$0.092880-0.46%
  • apecoinApeCoin(APE)$5.88-1.82%
  • nearNEAR Protocol(NEAR)$2.51-0.44%
  • crypto-com-chainCronos(CRO)$0.0834811.23%
  • filecoinFilecoin(FIL)$5.51-3.29%
  • quant-networkQuant(QNT)$141.61-2.80%
  • algorandAlgorand(ALGO)$0.266349-2.07%
  • hedera-hashgraphHedera(HBAR)$0.0730490.76%
  • lido-daoLido DAO(LDO)$2.20-6.90%
  • vechainVeChain(VET)$0.024882-0.03%
  • fantomFantom(FTM)$0.62-1.59%
  • internet-computerInternet Computer(ICP)$5.79-1.75%
  • decentralandDecentraland(MANA)$0.78-1.42%
  • the-sandboxThe Sandbox(SAND)$0.780.41%
  • axie-infinityAxie Infinity(AXS)$11.35-1.31%
  • aaveAave(AAVE)$88.82-3.29%
  • eosEOS(EOS)$1.100.36%
  • flowFlow(FLOW)$1.15-3.60%
  • terra-lunaTerra Luna Classic(LUNC)$0.000194-1.69%
  • elrond-erd-2MultiversX(EGLD)$46.330.37%