Avalanche (AVAX) continues its strong rise despite short-term correction movements in Bitcoin (BTC).
One of the fastest recovering altcoins in the cryptocurrency market after the declines on December 11 AVAX happened. Last 2 year bear during the season $147 from level under $10 to AVAX investors who fell as low as stressful days He kept it alive.
However, the project showed a strong performance as the market recovered in 2023, despite the recent declines. From May 2022 this is a lie 40 dollars for the first time He managed to get on top.
On the other hand, DeFiLIama data indicates that we may be at the top of everything for the Avalanche ecosystem. Despite the increase in price, the price on the Avalanche network total assets locked (TVL) its value is still April 2023 with levels $930 million Watching in the band. This strengthens the possibility that the Avalanche ecosystem will offer unexpected profits in the coming period.
CoinShares analyst who made a statement on the subject max Shannonespecially last November JPMorgan And Avalanche He emphasized that the cooperation announced between the network is an important driving force for the price increase:
In November, JPMorgan and Apollo also announced the news that Avalanche would be used to test real-world asset tokenization, which likely supports the price action.
Overtakes Dogecoin (DOGE)
Avalanche’s continued solid march despite the decline in the cryptocurrency market led it to displace Dogecoin. First on CoinGecko in terms of market value Entering the top 10, AVAX reached 15 billion dollars reached. Dogecoin is at the time of writing $13.68 billion has market value.
According to CoinGecko data, in the last 24 hours 17% up Bitcoin exhibiting, at the time of writing from $41 is being traded.