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In a recent surge, Avalanche (AVAX) has propelled to remarkable heights, reaching a new yearly peak at $42.90. This surge has sparked intrigue among cryptocurrency enthusiasts and analysts, who are eyeing the next potential milestone of $50 for AVAX.
Ava Labs' said that users of its Core app will be able to create a wallet and multi-chain seed phrase with their Gmail.
One of the best performers in this recent altcoin surge is Avalanche (AVAX). AVAX has captured the attention of many with its remarkable increase of 276.88% since the beginning of 2023.
However, it's essential to note that if AVAX fails to close above the $44 resistance, it could signal the end of the upward movement despite the optimistic price predictions. The price of Avalanche (AVAX) started going up again this week, hitting a new highest point for the year at $42.90.
The Avalanche (AVAX) price resumed its increase this week, reaching a new yearly high of $42.90.
Avalanche (CRYPTO: AVAX) has eclipsed Dogecoin (CRYPTO: DOGE) to claim the ninth spot on CoinMarketCap's leaderboard of the top 100 cryptocurrencies. What happened: The market value of Avalanche has swelled to $14.23 billion at the last count, edging out Dogecoin's $13.64 billion market cap.
Avalanche has seen its native token AVAX rise rapidly over the last 30 days to make its way into the top 10 tokens by market cap. This rally was not exactly out of the blue as activity had begun to pick up once more on the Avalanche network.
The cryptocurrency market has demonstrated resilience despite the U.S. Federal Reserve holding interest rates at their current level. Prices of major digital assets continue to rise.
Bitcoin and altcoins are trying to find support at lower levels, indicating that the sentiment remains positive, and that traders are buying the dips.
The cryptocurrency market cap grew to $1.5 trillion in November as blockchain protocols and digital assets experienced a massive influx of capital.
AVAX impressed with its rally this year and seems unstoppable. Key Support levels: $31 Key Resistance levels: $41, $55 1.
NodeKit's SEQ is a shared sequencer Layer 1 network designed to give a wide range of rollups more robustness and interoperability.
Bitcoin's (BTC) dominance over the cryptocurrency market fell slightly to 53% from its highs at 55%. Meanwhile, altcoins' total capitalization remains above $700 billion, and investors expect an altseason.
Given the wild ebb and flow of individual cryptos to buy, it was perhaps inevitable that a cooling-off period would materialize.
Bitcoin and Avalanche have exhibited great price trends in the year so far, but recent declines have made their traders take different positions.
Bitcoin is struggling to recover from the recent market downturn and is hovering around $41,000. Many other altcoins are also facing losses, with SOL dropping below $70, and AVAX experiencing a significant dip below $40.
AVAX was on the run lately, but has retraced by more than 10% in the past 24 hours.
AVAX price rallied over 50% and traded above the $40 level. Avalanche is now correcting gains, but the bulls might remain active near the $32 support zone.
Cryptocurrency analyst Miles Deutscher has provided insights into potential altcoin opportunities as the crypto market experiences a sharp correction and many altcoins consolidate after recent gains. Deutscher's analysis focuses on several altcoins that he believes could be poised for significant upside movement.
Bitcoin remained steady around $41,000 after Monday's dramatic flush.
Avalanche's market cap has grown by 340% since October, and AVAX price has followed.
Avalanche (AVAX) has rallied heavily in the last month, outperforming the top 20 crypto assets while its ecosystem enjoys a resurgence of its own. AVAX crossed the $40 mark early on Monday, an 81% gain for December and a 138% gain since November 12.
The total value locked (TVL) in the decentralized finance (DeFi) ecosystem steadily holds above $50 billion. Interestingly, this places DeFi's worth of dollars above some countries' GDP.
Trader Joe, a leading decentralized exchange (DEX) on the Avalanche (CRYPTO: AVAX) blockchain, achieved a significant milestone on Dec. 11, with its fee capture reaching $1.23 million and revenue hitting $145,000. These figures represented the second-highest levels recorded for the platform within the year, which marked a notable achievement in the decentralized finance (DeFi) space, according to data from Defillama.
