The crypto town is crumbling amidst the turbulence in the market trends. And the economic imbalance, which has been further tormenting the business. While the traders are on the quest to reimburse the incurred losses. Strategies and portfolio management are the topic of discussion of the masses.
Successively, folks from the crypto town have rolled up their sleeves to make the most out of their portfolios. Irrespective of the market’s trend being bullish or bearish for the year. Amongst the surfeit of alts present in the market, traders are considering Avalanche for their portfolios, owing to the network’s potential. Moreover, an addition to the network’s feathers comes as Huobi joins hands with the Avalanche ecosystem.
Is Avalanche’s Sprawl A Growing Concern For Other Alts?
In a recent achievement, Huobi Incubator announces its sponsorship plans for the Avalanche ecosystem. To mutually incubate flourishing projects, with an aim to back and empower the ecosystem. The incubator will also be sponsoring the network’s Asia Hackathon, which is to be held from the 1st of February to the 31st of March, 2022. Winners of the event will be receiving perks of the prize pool of $5 million.
The Avalanche Asia Hackathon welcomes coders and developers to create decentralized applications on the network’s ecosystem. The Huobi Incubator will be extending its support to the winning projects and candidates, which includes the expertise of the firm alongside publicity. Moreover, two of the winning projects will be given a chance to be listed on the Huobi Prime list.
The price trajectory of the Avalanche ecosystem has been soaring at appreciable highs. The top-3 performers from the ecosystem are VOLT at 11.5%, JOE at 2.4%, and BIFI at 1.4%. In the interim, applications based out of Avalanche have been growing at an astounding rate. The network’s DEX Pangolin has entered into a partnership with Dragon crypto gaming. Which will be providing 1,000 DCAU to support the DEX.
In contrast, The TVL of Avalanche has been contending against major rivals and is performing at a notable rate. The protocol ranks 4th at $8.5B behind Ethereum, Terra, and BSC. Avalanche’s top TVL is distributed amongst AAVE at $2.27 B, BenQi at $1.19 B, Trader Joe at $1.01B, Multichain at $$874.62M, Curve at $820.84M, and others at $3.33B.
Summing up, the network is also home to a host of DAOs to opt from, with the year being in the name of diverse sectors such as NFTs, Metaverse, DeFi, and DAOs. Avalanche has been gearing up with its weapons with its robust and efficient fundamentals. Off-late the firm has burnt 700k tokens, coming from transaction fees.
While the price of the digital asset has been moving sideways. It opens up an opportunity to buy at a discounted price for a bull run in the future. Concluding, AVAX remains one of the tokens that would steal the show in the near future
Source: https://coinpedia.org/altcoin/is-avalanche-avax-price-gearing-u/