Can Avalanche (AVAX) Reclaim $30? Top Analyst Predicts A Dip Before A Bounce

Avalanche (AVAX) is currently trading at a crucial level after a 24% retrace that began last week. The crypto market is experiencing extreme fear and uncertainty, with most altcoins hovering near yearly lows. Analysts and investors closely monitor AVAX’s price action as the market remains volatile.  Top analyst and trader Kaleo has shared his insights, [...]

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DeFi Platform Delta Primes Loses $6 Million In Security Breach, Is North Korea Involved?

Decentralized Finance (DeFi) platform Delta Primes suffered a security breach on Monday, affecting the protocols users. The attack took $6 million from the projects pools and is under investigation. However, on-chain investigators suspect it could be linked to North Korean hackers and be part of a larger-scale scheme. Hackers Drain $6 Million From DeFi Protocol [...]

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Chainlink data streams go live on Avalanche Network

GMX, a perpetual futures trading platform, will be a launch partner and leverage Chainlinks tech to fuel the decentralized futures exchange.

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AVAX Soars 9% As Avalanche And Chainlink Announce Partnership For Global Asset Circulation

According to a recent announcement from blockchain platform Avalanche (AVAX), Australia and New Zealand Banking Group (ANZ) has partnered with Chainlink (LINK) Labs to explore the potential of on-chain digital assets for global movement and settlement.  Using Chainlinks Cross-Chain Interoperability Protocol (CCIP), the collaboration aims to connect the Avalanche and Ethereum (ETH) blockchains to enable [...]

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Avalanche Foundation Commits $50 Million To Tokenized Asset Purchases

The Avalanche (AVAX) Foundation has launched a $50 million initiative, called Avalanche Vista, to pioneer the future of asset tokenization.  According to the announcement, the foundation will allocate the funds to purchase tokenized assets, often referred to as “real world assets” or “off-chain assets,” minted on the Avalanche blockchain.  KKR Fund Tokenization On AVAX The goal of the program is to support and demonstrate the value of tokenization, the process of creating an on-chain digital representation of an asset, item, or thing. Avalanche’s consensus mechanism, subnet architecture, and technical innovation aim to facilitate tokenization with greater speed, scalability, and customizability. Furthermore, Avalanche Vista will consider assets across the full liquidity spectrum, including equity, credit, real estate, commodities, as well as those that are blockchain-native.  Related Reading: Singaporean Judge Declares Crypto Is Personal Property In ByBit Case The initiative aims to demonstrate the merits of applying blockchain rails to historically more manual and operationally-intensive use cases, including asset issuance, settlement, transfer, and administration. The initiative follows major milestones in asset tokenization, including Securitize’s tokenization of an interest in a flagship KKR fund on the Avalanche blockchain, marking the first time exposure to one of KKR’s alternative investment strategies had been offered in a digital format in the U.S. Avalanche Vista aims to accelerate the growth of tokenization and its role in on-chain finance (“OnFi”) by unlocking broader access to private market investing.  Historically, investments in private markets have been primarily reserved for large institutional investors and ultra-high-net-worth individuals. The initiative aims to enable technologies that create significant efficiencies in these processes and improve the asset issuer and investor experience. According to a report by Security Token Advisors, 77% of capital markets participants believe traditional securities will be digitized within 5-10 years, and the size of the tokenized securities market alone is expected to grow to $20 trillion by the end of 2030.  With Avalanche Vista, the Avalanche Foundation is taking a big leap forward toward realizing this future. Avalanche Network Set To Unlock New Frontiers? Tokenization is a powerful technology with a wide range of potential use cases on the Avalanche network.  One of the key applications of tokenization is in the real estate industry, where it can be used to represent ownership in real estate assets. By creating digital tokens that represent fractional ownership in a property, it becomes easier to buy and sell these assets, which can be particularly useful in the context of large commercial properties or high-value residential properties. Related Reading: Maker (MKR) Shows Positive Moves As Top Coins Land In The Red Another area where tokenization can have a significant impact is finance. By representing financial assets such as stocks, bonds, and other securities as digital tokens on the blockchain, it becomes easier to trade and settle these assets securely and transparently.  Tokenization can also be used for identity verification, allowing for the secure storage and transfer of digital identities. This has the potential to reduce the need for central authorities in the verification process, making verifying identities easier and more efficient. Other potential applications of tokenization on the Avalanche network include art and collectibles, renewable energy, and charity and non-profit organizations. As the technology continues to develop, it can be expected to have more innovative use cases, transforming a wide range of industries and applications. Despite the potential for tokenization on the Avalanche network, the price of AVAX has remained relatively stagnant over the past few days. Over this period, AVAX has been trading within a narrow range of $13.10 to $13.53.  As of now, AVAX is trading at $13.18, which represents a decline of 1.2% over the past 24 hours and more than 5% over the past seven days. Featured image from Unsplash, chart from TradingView.com

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Avalanche C-Chain Experiences Block Production Halt, AVAX Price Responds

In a recent development, the Avalanche (AVAX) C-Chain encountered a significant disruption in block production, leading to a halt for over one hour. The interruption, which affected the primary network, was observed through the Avascan browser, with the last transaction recorded at block 42046853 (19:13 UTC+8). Although other subnets experienced a slight delay, the primary network faced the most substantial impact. Avalanche C-Chain Block Production Halt Ava Labs, the team behind the Avalanche protocol, acknowledged the issue and promptly initiated an investigation. According to Kevin Sekniqi, co-founder of Avalanche, the disruption is believed to be related to a new inscription wave that was launched approximately an hour before the block production interruption.  Sekniqi expressed confidence that the incident was caused by an esoteric bug stemming from an untested edge case, emphasizing the need for a swift resolution. Related Reading: Bitcoin Bullish Outlook: Analyst Predicts Near-Term Surge To $61,000 The disruption is presumed to be associated with a mempool handling issue specifically tied to inscriptions, which encountered untested edge cases. When questioned about the possibility of such untested scenarios arising, Sekniqi acknowledged that while ideally, there should be no untested edge cases, the vastness of the codebase and continuous updates make it challenging to anticipate every possible scenario.  The Avalanche co-founder further clarified that thorough testing is conducted on testnets, but the intricacies of the mainnet environment can introduce unforeseen challenges. At present, no further official statement has been issued by the Avalanche protocol, awaiting additional reports and updates from the development team to gain further insights into the situation.  AVAX Price Dips During the occurrence of the block production halt, the AVAX price, which serves as the native token of the Avalanche protocol, exhibited a negative reaction, further extending the ongoing decline observed since Thursday when the price was at $43. Related Reading: Arbitrum In Freefall, Dips Below $2 As Experts Analyze Recovery Timelines As of now, the AVAX price has reached $36.13, indicating a decline of over 2% within the past 24 hours, accompanied by a substantial drop of 11.7% over the course of the previous seven days. The subsequent actions taken by the Avalanche team in response to this situation, as well as the consequential effect on the AVAX price, are yet to be determined. Featured image from Shutterstock, chart from TradingView.com

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AVAX Rides The Crypto Avalanche To Success: Market Cap Skyrockets By 344%

Avalanche (AVAX), the blockchain platform known for its scalability and infrastructure, made significant strides in the fourth quarter (Q4) of 2023. According to a report by Messari, AVAX emerged as one of the best-performing tokens, driving the protocol to record notable gains in key metrics. Record-Breaking Milestones For Avalanche  The report shows that AVAX experienced a notable increase in its market cap, which climbed 344% quarter-over-quarter (QoQ) and 326% year-over-year (YoY), reaching $14.4 billion at the end of the year. This large increase propelled AVAX’s market cap rank among all tokens from 20 to 9, up 11 spots (currently 10th behind Cardano (ADA). Related Reading: BONK Price Jumps Over 30% As Robinhood, Revolut Listing Speculations Gain Traction One of the driving factors behind Avalanche’s significant revenue growth was the surge in inscriptions, particularly Avascriptions (ACS-20 tokens).  These on-chain call data transactions saw a significant boost, resulting in a substantial increase in revenue. From November to December, Avalanche witnessed a surge in revenue, with a 2,874% increase measured in USD, from $1.9 million to $56.5 million. The surge in revenue was accompanied by a significant increase in daily transactions, which jumped 450% QoQ to 1.5 million. The emergence of Avascriptions also drove the majority of these transactions. Avalanche’s C-Chain experienced a record-breaking 6.3 million transactions, with nearly 6.1 million being inscriptions. This marks the highest number of transactions ever recorded in a single day for Avalanche. While C-Chain saw a 50% QoQ decrease in daily active addresses, this was primarily due to decreased activity on LayerZero – a bridge between different blockchains. However, the report highlights that Avalanche saw a significant increase in active validators, growing 20% QoQ from 1,374 to 1,651 validators.  According to Messari, this growth in validators, coupled with an 11% QoQ increase in AVAX stakes, indicates a promising long-term appetite for AVAX in the coming year. Avalanche’s TVL Surges 78% Avalanche’s Total Value Locked (TVL) denominated in USD experienced a substantial 78% QoQ increase, reaching $1.03 billion by the end of Q4 2023. This positioned Avalanche as the 7th chain by TVL, denominated in USD.  However, TVL-denominated in AVAX decreased by 71% QoQ, primarily due to AVAX price appreciation driving the increase in USD-denominated TVL. The report also sheds light on the performance of various protocols on Avalanche. AAVE, the largest protocol by TVL, witnessed a 60% QoQ growth, while Benqi and Trader Joe demonstrated strong gains of 205% and 131% QoQ, respectively. Together, these three protocols accounted for 79% of Avalanche’s TVL, showcasing their dominance in the ecosystem. Related Reading: The Bitcoin Rally Is Far From Over: 2 Key Factors Behind The Momentum Smaller-sized protocols, such as Pangolin and GMX, also showcased impressive growth, while Balancer, aided by Benqi’s sAVAX liquidity pool, attracted significant TVL on Avalanche. Additionally, Q4 witnessed a surge in average daily DEX volumes, rising by 245% QoQ. Analysis of the 1-day chart reveals that Avalanche’s token trading pair AVAX/USD experienced significant growth during Q4, breaking free from a prolonged period of sideways price action. However, following a notable uptrend that propelled the token to reach $50, its highest level in 20 months, on December 24, AVAX underwent a sharp correction, plunging to the $27 price level.  The cryptocurrency has rebounded in response to Bitcoin’s (BTC) rally and the prevailing bullish sentiment in the market. Over the past fourteen days, AVAX has witnessed a 13% price increase, currently reclaiming the $40 zone. Featured image from Shutterstock, chart from TradingView.com

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Avalanche (AVAX) Q2 Success: Network Activity Surges, Revenue Jumps 170%

Avalanche, the smart contract platform for decentralized applications, witnessed remarkable growth in  Q2 2023, driven by increased activity on the C-Chain- one of the three chains that make up the Avalanche network- and the launch of new subnets.  According to a recent report by Messari, the network’s daily average active addresses and transactions on the [...]

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Ether fractals target $5K, Avalanche raises $250M Finance Redefined

Increasingly more analysts and chart patterns are pointing to an imminent Ether breakout to an all-time high, bolstered by BlackRock doubling its Ether ETF holdings.

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Avalanche Soars 20% In 24 Hours Analyst Reveals Next Price Target

Avalanche (AVAX) has made a significant move, breaking above a crucial resistance level and soaring over 20% in less than 24 hours. This surge has reignited bullish sentiment among analysts and investors, who are now closely monitoring AVAXs potential to reach the key $50 mark in the coming days. The breakout signals a shift in [...]

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AVAX Smart Contracts Hit 6-Month High – What This Means For Its Price

AVAX has been expanding its reach in various areas over the past few months, but one aspect that has seen tremendous growth is its smart contract deployment.  With this significant milestone, many investors and traders alike are speculating whether this development could be the catalyst that propels the Avalanche Network native token’s price to new heights.  Will this newfound growth in smart contracts lead to a surge in AVAX’s value? Related Reading: Terra Classic Recent Efforts Could Benefit LUNC’s Growth Potential Contract Deployment Spike Could Boost AVAX Adoption  According to the latest CoinMarketCap data, Avalanche (AVAX) has experienced a minor 2.04% dip in its price over the last 24 hours, but still remains relatively steady at $17.04.  Despite this slight setback, data from Artemis reveals that the network has witnessed a significant spike in contract deployment, which can be a positive indicator for the protocol’s usage and adoption. The contract deployment of $AVAX has recently hit its highest levels in over six months. After analyzing the on-chain activity, we found that contract deployment hasn’t seen such growth since May 2022. pic.twitter.com/ehkVk7ZrrK — Artemis ?? (@Artemis__xyz) April 28, 2023 The increase in the number of smart contracts deployed on the Avalanche network suggests that more developers are building dApps and exploring the potential of the platform.  As the number of dApps on the network grows, it can lead to a wider range of use cases for the protocol, attracting more users and projects. This increased adoption and usage can ultimately drive up demand for AVAX. If the trend of contract deployment continues to rise, it could be a sign of a healthy and growing ecosystem on Avalanche. This, in turn, can further boost the token’s value. Avalanche Network TVL. Image: Defillama Avalanche’s DeFi Performance Disappoints Despite a significant increase in smart contract deployment on the Avalanche network, the platform’s performance in the decentralized finance (DeFi) sector has been less than stellar.  Recent data shows a sharp decline in the platform’s decentralized exchange (DEX) volume, falling from 311 million to 13.74 million in just a few months. This has had a direct impact on Avalanche’s total value locked (TVL), which has also seen a decline. One of the contributing factors to the decline in Avalanche’s DeFi performance has been the decreasing interest in BTC.b, a wrapped Bitcoin token on the network used for DeFi purposes. According to data from Dune Analytics, all DEXes on the Avalanche network have witnessed a decline in BTC.b usage, indicating a lack of interest in the platform’s DeFi offerings. AVAX total market cap at $5.5 billion on the daily chart at TradingView.com Related Reading: Render Delivers With 40% Gain As RNDR Dominates Sunday Charts Outlook For AVAX Despite the disappointing DeFi performance, the increase in smart contract deployment on the Avalanche network remains a positive indicator for the platform’s future prospects. As more developers build dApps and explore the network’s potential, it can lead to a wider range of use cases and attract more users and projects. -Featured image from Analytics Insight

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