While Ethereum (ETH) has begun to record losses in recent days, its rival cryptocurrency Avalanche (AVAX) has moved in the opposite direction, not only falling 38% in a week when Ethereum dropped more than 4%, but also rising rapidly. It was up 100% last month, while its rivals were up just 6%.
Indeed, Avalanche has mounted an impressive rally in recent weeks, briefly breaking the important psychological threshold of $40 before falling back below it, but has certainly left its mark on the currently lagging Bitcoin market. Remaining (BTC) is down almost 7%. %. According to last week’s data, December 13.
According to the latest chart information published by blockchain and crypto market analysis platform IntoTheBlock on December 12, Avalanche has also outperformed its flagship decentralized finance (DeFi) assets, with an impressive annual return of over 200%
In addition, Avalanche has previously seen a significant increase in the number of large-scale transactions for its tokens, peaking at nearly 1,000 transactions worth over $100,000 in the week ending December 11; one analysis called this a “positive sign for the bulls.” . ”
Avax Price Analysis
At the time of this writing, Avalanche’s price was $36.44. This represents a decrease of 9.63% in the last 24 hours, but still an increase of 41.65% in the last 7 days, as well as an impressive increase of 102.22% in 2019. Last month, as the latest chart shows.
Avalanche’s 30-day price chart. Source: Finbold
Overall, despite the slight bearish trend in the crypto sector, Avalanche has made some surprising moves, showing even greater long-term strength against what is now the 9th largest digital asset, and AVAX is now one of the top three DeFi projects along with AVAX. to buy now. Ethereum. and Solana (SOL).
