Avalanche (AVAX) Price Surges 9% in the Last 24 Hours Amid Bullish Momentum
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- Non-fungible tokens (NFTs) are taking root on the Avalanche blockchain.
- The native token AVAX and various consensus techniques power Avalanche.
Bitcoin and Ethereum prices surged as the global crypto market remained in the green as investors’ desire for risky assets was rekindled by hopes that tensions in Ukraine would be eased in the coming days. For the first time since the end of last week, Bitcoin, the most valuable cryptocurrency by market capitalization, rose by up to 5.2% to $44,449 BTC.
Avalanche TVL is presently valued at $8.41 billion and increasing throughout Avalanche decentralized apps, making it one of the most well-known cryptocurrencies. The native token Avalanche (AVAX) and various consensus techniques power Avalanche.
Avalanche’s market capitalization to TVL of 2.0 seems to be a good value compared to Fantom. After a meteoric rise in 2021, Avalanche has had its value plummet in tandem with the larger crypto market after January 1st. Because of this, investors who bought Avalanche when it reached $144 in November had a fresh chance to do so.
Recent Surge of Activity and Adoption
The Avalanche ecosystem is seeing a surge of activity. For example, Terra’s USDC and Terra’s UST stablecoins appeared on the Avalanche network in December. As a decentralized exchange based on Avalanche, Pangolin illustrates how this technology might be used.
Non-fungible tokens (NFTs) are taking root on the Avalanche blockchain, partly thanks to Deloitte’s recent selection of Avalanche to assist local governments in obtaining FEMA disaster relief funds. It was designed to alleviate many of the problems that blockchain networks confront. Platforms like Avalanche, which provide an alternative to networks like Ethereum, aim to reduce cryptocurrency’s centralization.
According to CoinMarketCap, the Avalanche price today is $87.82 USD with a 24-hour trading volume of $1,134,159,559 USD. Avalanche has been up 8.87% in the last 24 hours.
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