This Altcoin Spent The Week With Positive News!

The bear market has dominated the cryptocurrency markets for 10 months. First bitcoin and Ethereum including almost all altcoins constantly losing value.

However, the drop in price does not mean that the industry will disappear. Contrary to the dips, altcoin projects are working hard to improve themselves.

One of the most well-known altcoins in our country among cryptocurrencies Avalanche (AVAX)faced a series of positive data and news this week.

Founded by Turkish professor Emin Gün Sirer, Ava Labs announced a new partnership this week. Ava Labs has partnered with Boba Network, a layer-2 solution.

1/ We’re over the slopes to announce our partnership as an official scaling solution for @avalancheavax 🌟

Avalanche offers blazing fast speeds, low costs, and eco-friendly solutions: Boba AVAX L2 holds true to those values ​​and enhances it further! pic.twitter.com/hhj5wrCIll

— Boba Network 🧋 x 🔺 (@bobanetwork) September 21, 2022

Boba Network announced the deal on its Twitter account. With the collaboration, Boba will provide a scaling service to AVAX. Thus, transaction speeds in the AVAX network will increase and fees will decrease.

Positive On-Chain Data from AVAX!

The positive news for AVAX is not limited to deals. There is also a positive picture in on-chain data.

Santiment’s According to data, developer activity on the AVAX network has increased significantly over the past week. NFT In the field, social volume increased during the week. However, the rise in NFT was not permanent.

Finally another on-chain follower, CryptoQuant published a different data on AVAX. According to the site, AVAX’s RSI and Stochastic data remain neutral despite the overall market situation. While the markets are bleeding, a neutral data can be interpreted positively.

While the crypto markets are sluggish, both new deals and positive on-chain data can provide a new bullish prospect in the AVAX community.

$AVAXAs of writing, it is trading at $17.80.