- AVAX price soared by 55% in a week, surpassing $60 for the first time in two years.
- Organic demand in the spot market propels Avalanche’s rise, marking a significant shift.
- Experts predict AVAX’s bullish trend may continue, potentially reaching beyond $70.
In an extraordinary leap, Avalanche (AVAX) has clinched a staggering 13.60% increase in the last 24 hours, showcasing a resilience and momentum that eclipses its counterparts, Bitcoin and Ethereum.
Amidst a turbulent week for the giants of the crypto realm, AVAX has not only weathered the storm but emerged as a beacon of profitability and strength, with its price soaring by 55% between March 11 and March 18, crossing the $60 threshold for the first time in a duo of years.
At the heart of Avalanche’s ascension lies a blend of organic demand and strategic market movements, propelling it to an enviable 8th rank among the top 10 cryptocurrencies by market capitalization. The token’s surge to $64.16, a pinnacle not witnessed since May 2022, has ushered in a new era of optimism, rendering 83% of AVAX holders profitable, as per recent analyses.
While the derivatives market flashes bullish signals, suggesting a potential push beyond the $70 mark, the spotlight shines brightly on the spot market’s demand, with a notable increase in buy orders. This surge is not merely a number on a chart; it signifies a robust, growing interest in AVAX as a cornerstone asset within the crypto landscape.
Critically, the future of Avalanche in the crypto industry appears luminous with promise. As it carves its path through the market dynamics, the anticipation of reaching new heights remains palpable.
The resilience and performance of AVAX stand as a testament to its potential, heralding a future where it continues to shine as a key player in the ever-evolving crypto space.
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The post How AVAX Became the Top Performer Among the Top 10 Cryptocurrencies appeared first on Crypto News Land.
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