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Avalanche (AVAX) Prints 19% WTD, Are There Any Major Triggers?

Mon, 04/17/2023 - 08:24
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Godfrey Benjamin
Avalanche is on bullish run amid mixed market momentum
Avalanche (AVAX) Prints 19% WTD, Are There Any Major Triggers?
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Avalanche (AVAX) is leading the altcoin momentum today in what appears to be a major move to end April at a very bullish level. The cryptocurrency is still maintaining its position as the 13th largest coin with a current price of $20.68 atop 7.41% daily growth and a 19% week-to-date (WTD) upshoot.

Avalanche Chart
Image Source: CoinMarketCap

Avalanche's price action has been one to watch as it largely fell out of grace in what appears to be a steep correlation with the Terra (LUNA) token. Avalanche's all-time high (ATH) remains pegged at $146.22, making its current price an 85% slump from this level.

With so much upside for growth, there appears to be no visible trigger for the current growth surrounding the Avalanche protocol. While the proof-of-stake (PoS) protocol still has cross-industry relevance and fundamentals, the immediate buy-up from investors has arguably not been fueled by any major news or event.

While this might serve as a cause for concern, the opposite can be assumed. For Avalanche, the fundamentals it has been building up over the past few weeks remain a positive attraction for investors at this time. This growth is more trustworthy and can largely help drive a sustained rally in the digital currency.

Avalanche (AVAX) Expands Horizons With New Decentralized Exchange

Building the Avalanche way

Avalanche is branded as one of the blockchain protocols considered the fastest in the industry with respect to Time to Finality. While its blazing fast and secure transactions are a good selling point, Avalanche is focusing on building in a whole different way.

Avalanche is charting a unique growth trend through thoughtful partnerships with different brands that offer a number of unique utilities. As reported earlier by U.Today, the protocol landed a partnership with Loco, India's largest esports streaming platform.

The partnership is designed to help onboard Loco's more than 50 million users to Avalanche with the launch of LegendsByLoco, an NFT marketplace for esports fans worldwide.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.