The Avalanche network has been recording major gains in terms of adoption. Due to the growing on-chain activity on the network, the AVAX token has made notable gains. AVAX is currently one of the leading gainers in the cryptocurrency market.
AVAX is trading at $91.65 at the time of writing after an 18.6% gain in 24 hours.
Avalanche price analysis
The crypto market has made slight gains during the past 24 hours. AVAX is one of the top gainers in the market, and it has managed to recover some of its recent losses.
Avalanche was trading at around $76 before the bullish rally, and with the double-digit gains, it has managed to reach its current weekly high. If AVAX continues with its bulls, the $94 level could be achieved soon, as this is the next immediate resistance.
In late November, AVAX had managed to reach a record high of $144, but such levels could only be achieved again if there was broader market support. The majority of the bullish gains made by Avalanche during the past 24 hours come from buyer support, and if this weakens, the token could dip.
In case of dips, Avalanche will retreat to the lower support of $88. It could also go below these levels if short-term traders sell off.
The gains made by Avalanche come amidst the network’s major move to boost the adoption of decentralized finance (DeFi) projects on the blockchain. Circle, the company behind the USDC stablecoin, announced that it would support the Avalanche public blockchain by integrating USDC.
Support for the USDC stablecoin will bring better functionality for Avalanche and give more utility to the network. Avalanche has enjoyed increased adoption because of unique features such as eco-friendliness, low fees and fast speeds.
Where to buy AVAX
To buy AVAX during the current bullish rally, you can create an account on the following platforms:
The first exchange that supports Avalanche is eToro. eToro is a reputable copy trading platform that supports many cryptocurrencies and trading pairs. eToro has user-friendly features that make trading crypto on the platform easy.
You can buy AVAX from Binance, the largest cryptocurrency exchange platform. Binance charges some of the lowest trading fees in the market. By supporting over 300 cryptocurrencies, Binance is ideal for a trader who seeks a diversified portfolio.
Your capital is at risk.