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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.

Crypto Price Prediction: On December 11th, the crypto witnessed a sudden sell-off as the leading cryptocurrency also reverted from $44500 higher. This reversal has turned the uncertainty of many major cryptocurrencies into a short pullback.

Avalanche has risen to become the 10th biggest cryptocurrency by market capitalization, overtaking meme coin Dogecoin.

Avalanche (AVAX) Price Analysis The Avalanche price accumulated along the crucial resistance zone around $20 for a while and further triggered a massive upswing to mark the yearly highs above $40 The price surged beyond 0.5 FIB levels and soared above the interim resistance at $38.

Avalanche's on-chain metrics provide compelling evidence, confirming AVAX's resilience amidst the broader market correction.

Avalanche (AVAX), a cryptocurrency that has been turning heads recently, stands out as one of the few digital assets that managed to thrive in a bearish market. While major cryptocurrencies like Bitcoin and Ethereum faced a 6% decline in December, AVAX surged, posting an impressive 13.6% gain in just 24 hours, according to CoinGecko data.

Avalanche (AVAX) price rally is attributed to a strategic focus on two key burgeoning blockchain narratives ahead of 2024. But how far can it go?

In a dramatic turn of events, Avalanche's native cryptocurrency, AVAX, has experienced an extraordinary surge of 85% in the past week, surpassing major players like Dogecoin and outperforming stalwarts such as Bitcoin and Ethereum. This surge is capturing the attention of the crypto community and analysts, prompting discussions about the factors contributing to AVAX's impressive performance.

The major rally the crypto market is currently experiencing has sent many cryptocurrencies to prices not seen in over a year. In about two months, Bitcoin (BTC) rose from its relative stagnation between $25,000 and $30,000 to well above $40,000.

Aside from AVAX, several other alts have jumped a lot in the past 24 hours, including BNB, ADA, and DOT.

AVAX bounced above the $40-mark for the first time since May 2022. What does this mean?

Avalanche is charting a course that could mirror the explosive growth of Solana in its early days. With transaction volume swelling to nearly a thousand transactions exceeding $100,000 last week, AVAX is signaling robust momentum - however, not yet at the levels seen during the zenith of the last bull market.

Avalanche (AVAX) has leapfrogged Dogecoin (DOGE) to clinch a spot in the top 10 by market capitalization. As of the latest data, AVAX has been trading at a buoyant $41.24, marking an 18% uptick in the last 24 hours alone.

Avalanche's AVAX token shocked the crypto markets with an 85% weekly surge driven by technical breakouts, fundamentals, and incentives allocating over $275 million to network validators.

Despite the crypto industry experiencing a significant correction in value, the Avalanche price has added over 15% to its portfolio within the past 24 hours, making it one of the top gainers of the day. The AVAX price traded in a narrow space between $16.49 and $19.

The Avalanche network has been witnessing remarkable growth, especially shown by a massive 64% increase in Total Value Locked (TVL) on its chain in the past month. This surge pushed the TVL to approximately $872 million, indicating a quick rise in activity and investor interest within the Avalanche ecosystem.

In a massive rally over the last week, Avalanche's native cryptocurrency AVAX has shot up by another 20% in the last 24 hours, shooting to $42, and unseating Dogecoin as the ninth-largest cryptocurrency by market cap. With this move, Avalanche has extended its weekly gains to a staggering 85%, and the best among the top

AVAX surged while other tokens plunged, with analysts pegging its outperformance on being relatively undervalued while forging new partnerships with JPMorgan and Citi.

Despite the broader crypto market seeing a downturn on Monday, Avalanche (CRYPTO: AVAX) emerged as the highest gainer in the top 20 cryptocurrencies, up over 6% in the past 24 hours. Avax is up over 76% in the past 7 days, which is the highest reported gain among the top 20 cryptocurrencies for the past week.

A new monthly high is on the cards for AVAX. What does this mean?