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The Avalanche Foundation, the driving force behind the Avalanche blockchain, has recently introduced a comprehensive set of guidelines for its plans to invest in meme coins. These digital assets, known for their playful nature and cultural significance, have gained immense popularity, often delivering substantial returns.
The Avalanche Foundation will consider meme coins that follow certain eligibility criteria in its acquisition plan.
While the overall cryptocurrency market is currently experiencing a short-term decline, there is optimism that most assets will likely recover in the coming months. Notably, bullish fundamentals, including events like the upcoming Bitcoin (BTC) halving and potential interest rate cuts by the Federal Reserve, contribute to this positive outlook.
Avalanche Foundation, the supporter of the Avalanche blockchain, has taken steps in its memecoin acquisition initiative by introducing an eligibility framework that outlines key criteria for the consideration of these highly volatile coins. This move is part of the foundation's strategy to foster culture, creativity, and engagement within its ecosystem.
Masa Network has raised $5.4 million in a seed funding round to build a decentralized network on Avalanche focused on personal data.
Not all meme coins are created equal. If they're to get bought up by the Avalanche Foundation, their creators will have to follow some rules.
The Avalanche coin price continues to trade under a bearish influence as the token has recorded a correction of approximately 10% in valuation and has cumulatively lost over 22% over the past week, highlighting a bear power in the market. The AVAX price traded in a narrow space between $42.
Over half of the profits accumulated by short-term bitcoin holders have been wiped out, Bitfinex analysts said in a Tuesday note.
The cryptocurrency market has witnessed a significant downturn in the last two weeks, marked by a decline in enthusiasm for Bitcoin ETFs. Bitcoin's price has tumbled from $49,000 to below $40,000, and altcoins such as Solana, IOTA, and Avalanche (AVAX) have experienced pullbacks.
It has been a sea of red in the cryptocurrency market in the past two weeks as the enthusiasm of Bitcoin ETFs dropped. Bitcoin price has crashed from $49,000 to below $40,000. Similarly, altcoins like Solana, IOTA, and Avalanche (AVAX) have all pulled back.
Negative buzz around Dwight Howard's collection, Ballers, was so bad that Ava Labs distanced itself from the collection on Sunday.
The latest statistics indicate a further decline in non-fungible token (NFT) sales this week, showing a 5.05% decrease compared to the previous week. Sales of NFTs reached $297 million, with Ethereum leading the way this week. Ethereum's sales amounted to $106 million, overtaking Bitcoin's $70 million in sales over the same seven-day period.
Bitcoin is down bad—but major altcoins like Solana, Avalanche, and Cardano are also experiencing a brutal selloff.
The Avalanche (AVAX) price went through a phase of stability, trading between $45 and $50. However, the market lost momentum, leading to a breakdown.
The crypto industry continues to display significant price volatility, highlighting increased selling and buying pressure in the market. Further, the AVAX price continues to record constant correction, indicating a bearish influence in the space.
These three hyper-growth cryptos each have their own unique catalysts to consider in addition to a bullish macro backdrop.
Over the past month, the value of Avalanche (AVAX) has dropped by 14.36%, as reported by CoinMarketCap. This decline is in contrast to the impressive performance that the cryptocurrency exhibited in 2023.
Avalanche is embracing memecoin culture, but high-profile figures, including Ethereum's Vitalik Buterin, have recently spoken out against memes and “degen gamblers.”
While some of the altcoins continue to hover within a very narrow range, the Bitcoin price is trying hard to sustain above the crucial resistance at $42,800. In the meantime, some of the altcoins in the top 15 are displaying the possibility of a breach beyond the pivotal resistance.
Avalanche inscriptions have taken off spectacularly thanks to format improvements over Bitcoin Ordinals, but also attracted imitation scams seeking to benefit from the hype.
In a recent video by The Fomo Factory, the analyst opened up about the 2024 crypto bull run, hinting a shift towards altcoins. Despite acknowledging the potential for high Bitcoin prices, they believe 2024 holds more promise for the altcoin market.
Bitcoin price is trying to stabilize after a sharp fall, indicating that the froth may be out of the system.
Over 100 million Avalanche inscriptions have been minted since their invention last year.
Amidst the debut of the US Bitcoin ETF, a surprising altcoin surge reshapes the crypto landscape, challenging Bitcoin's dominance.
