The global crypto market spectates a brawl amongst capable altcoins, in a quest towards supremacy. Crypto town is home to a plethora of protocols has a handful of assets to boast of which have established their reign in the business. Successively, Avalanche has emerged as one potential protocol, which has been garnering interest with its perks on offer.
Avalanche, alongside its praiseworthy capabilities, has been scripting astounding metrics at numerous fronts. One such is the TVL on the network, which has been raging ahead of its rivals in the business. In the interim, crypto traders are keen on the price trajectories of AVAX. As buyers have rolled up their sleeves, to leave no stones unturned.
Is Avalanche Accumulating Its Strengths For A Bullish Run This Quarter?
As previously mentioned, the TVL on the Avalanche network has been climbing higher cliffs. According to DeFi Llama, Avalanche now has a total TVL of $16.31 Billion, which has seen gains of 3.88%. The protocol now ranks the fourth position with TVL, leaving behind its rival Fantom.
The network has been escalating with its astounding metrics for a brief period now. In the past year, the daily active addresses rose from a mere 10,000 daily active addresses in Q3, to 70,000 per day in Q4. Partisans are optimistic about the numbers rising in a similar trend this quarter as well.
The Avalanche network has been taking giant strides towards Web 3.0. The team is hosting the Avalanche Summit in Barcelona from the 22nd to the 27th of March. Where the makers will be hosting Web 3.0 builders. This is in addition to the strategic investment in EON XI Labs, which was earlier reported by CoinPedia.
Is AVAX Price Steaming Up?
AVAX at the time of press is changing hands at $85.03, whilst scripting marginal additions of 0.9%. The market cap of the asset has been hovering around $20,847,196,524, while the trade volumes for around the clock is at $1,784,718,510. In the interim, AVAX price has been trading in the frequency range from $82.32 to $92.14.
AVAX price has been adding steady gains on the charts, which has resulted in the candles climbing the stairs at a gradual pace. The digital asset eyes at its major resistance around the levels of $97, prior to the run to $100. However, losing out on steam could take the price to support levels around $73, a plunge from which would open doors to $65 zones.
Summing up, alongside the praiseworthy metrics and fundamentals, the protocol has been home to numerous NFTs. Univer ecosystem, Particle collection, avax apes, and avax punks are some of the notable names. Moreover, the energy-efficient traits of Avalanche would bring institutional exposure. That would further help compound the price of the asset.
Source: https://coinpedia.org/altcoin/avax-price-on-verge-to-hit-100-this-weekend/