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Avalanche (CRYPTO: AVAX) may reach a triple-digit surge for December due to highest-ever burnt transactions and new partnerships. What Happened: Ranked at number nine in the top 20 cryptocurrencies, Avalanche is sitting at gains of 85% in last month's trading session, compared to 15% in Bitcoin (CRYPTO: BTC) gains and 12% in Ethereum (CRYPTO: ETC).
BEEG's adoption skyrockets as 37% is minted within 2 hours and 15 minutes, attracting 4,300 holders.
In a groundbreaking move, Masa has launched its zk-data network, a marketplace built on a subnet powered by Avalanche's AvaCloud. This innovative platform is set to disrupt big tech data silos, incentivizing a consented and verified data marketplace between data providers and consumers.
Bitcoin may remain under pressure for a few days, but a collapse is unlikely as traders are expected to buy the dips in anticipation of a spot Bitcoin ETF.
In the last 24 hours, more than 77% of the gas fees on Avalanche was spent on Inscriptions.
In a remarkable escalation of transactional dynamics on the Avalanche network, last week witnessed an unprecedented surge in burnt crypto AVAX, totaling a staggering $16.7 million. This figure represents a tenfold increase compared to the previous week, establishing a new zenith for weekly incineration of AVAX tokens.
Masa Finance, self-styled as the "decentralized Google for the AI era," is gearing up to Avalanche subnet unveil a groundbreaking project.
Avalanche users burned the blockchain's native token during the transaction fee process, reducing its supply.
Over the past five days, users of Avalanche (AVAX) paid a whopping $13.8 million in transaction fees for minting and transferring tokens and NFTs associated with inscriptions. Inscription-based tokens involve adding text to regular blockchain transactions, and they've gained popularity due to their cost-effectiveness compared to native tokens.
Avalanche users are paying more than those on any other blockchain to mint and move tokens based on inscriptions.
Masa is receiving support from the Avalanche Foundation and investment from Avalanche's Blizzard Fund to help develop the platform.
Avalanche's fees has skyrocketed, surpassing $3 million. But what does this mean for AVAX?
Both Avalanche and Chainlink are high-risk, high-reward cryptos trading at 70% discounts to their all-time highs.
The cryptocurrency market is staying in a small range, with the main cryptocurrencies sticking to a set range. However, there's an interesting development: one of the alternative cryptocurrencies (altcoins) has shown incredible strength by going up almost 100% in the last month.
The crypto space is hovering within a narrow range as the major crypto has been chopping around a pre-determined range. Besides, one of the altcoins has been manifesting extreme strength by soaring nearly 100% in the past month.
After a marvelous 30% upsurge last week, AVAX replaced Dogecoin (DOGE) as the ninth largest cryptocurrency asset. Its upsurge is driven by a combination of long-term and short-term catalysts as AVAX outperforms almost all large-cap altcoins.
In recent weeks, the overall cryptocurrency market has seen substantial gains, primarily driven by Bitcoin (BTC). This trend appears to present an opportunity for investors, given the widespread anticipation of sustained profitability.
With Bitcoin ending the week on a moody slip, the altcoins market stays divided on the topic, and some altcoins are taking it better than others. For instance, Avalanche (AVAX) price shoots up to give a bullish break of $40.
While the week started on a high note of $43,800 for Bitcoin (CRYPTO: BTC), it didn't reach that level again for the rest of the week. The crypto's apex king reported a 4% drop in the past 7-days trade while Ethereum (CRYPTO: ETH) saw a 4.6% fall in the same timeframe.
Bitcoin and select altcoins are witnessing profit-booking on rallies, increasing the likelihood of a short-term pullback.
AVAX's price rally in the last week has led it to replace DOGE as the ninth-largest cryptocurrency by market capitalization.
Despite facing headwinds from scheduled token unlocks and crypto market volatility, the AVAX token has recorded remarkable price appreciation and surging derivatives interest that could signal further upside ahead.
AVAX token unlocks during December fail to exert downward pressure on the asset.
The Avalanche (AVAX) network has been outperforming the leading meme-inspired cryptocurrency by market capitalization Dogecoin (DOGE), to the point it has now become the ninth largest digital asset by the metric, with a $14.1 billion market cap.
