Avalanche Price up 6.95% – Time to Buy AVAX Coin?
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- The crypto market recovery is underway with a 24 hour gain of 3.45% and a live market cap of $1.96 trillion, urging investors to buy AVAX
- Avax gears for improved diversity and equity for web3 startups with Eonxi Labs
- High Annual Percentage Yield (APY) for new tokens as Augmented Finance launches on Avalanche
The crypto market has seen tremendous growth over the last day. This has rubbed off several crypto assets and strongly motivates investors to buy AVAX.
With a live market cap of $1.96 trillion and a 3.45% increase, the crypto market is moving for a full-scale recovery, and traders begin to make positive trade options.
The AVAX asset has established new support prices as its current price peg results from its retesting at the $75 mark. The Avalanche blockchain makes for one of the most agile blockchains available in the crypto space.
Avalanche operates using three blockchains with specific tasks to increase speed, reduce transaction costs and promote eco-friendliness without sacrificing its decentralisation and security.
Utilising the Platform Chain (P- Chain), the Exchange Chain (X- Chain) and Contract Chain (C – Chain), Avalanche provides optimal performance and scalability to its users and developers without invalidating other blockchains.
The Avalanche blockchain is a constantly evolving network and makes valuable investments in partnership and integrations that provide strong confidence boosters for investors who want to buy AVAX.
Augmented Finance Launches on Avalanche
Augmented Finance has launched on the Avalanche blockchain, opening up lending pools for 13 crypto assets. The platform offers higher yields to liquidity providers and lower lending and borrowing rates than other popular platforms.
Augmented Finance aims to create a foundation for multichain liquidity. The platform builds a DeFi liquidity system that enables full cross-chain compatibility to merge with other chains and provide liquidity for users to lend and borrow assets simultaneously.
The launch on the Avalanche blockchain proffers great potential as it provides high APY on thirteen of the most popular tokens with accelerated yield farming.
The integration provides top non-custodial and open-source protocols as a security measure with a user-friendly interface to facilitate processes. The integration with the Avalanche blockchain provides AVAX with a wider range of trade pairs, encouraging users to buy AVAX.
Avalanche Invests in Eonix Labs to Enable Web 3.0
The Avalanche blockchain has made a strategic investment into Eonix Labs to bring diversity and financial inclusion to Web 3 and metaverse startups.
The integration aims to bridge socioeconomic gaps through the metaverse and play-to-earn gaming. By lowering the barriers for entry into competitive emerging technology, enthusiasts can look forward to a suite of metaverse-centric products from the incubation hub, Eonix Labs.
The Avalanche Foundation’s early investment into the Eonix project provides it with early access to the disruptive concepts rolled out by the incubation lab. This has led to mass adoption and scalable infrastructures to Avalanche.
Mass adoption of the scalable blockchain, Avalanche means an increased utility of the Avax token in the long run, a recipe for higher price ranges.
Avalanche Technical Analysis
The Avalanche utility token is making an upscale in price as the crypto market undergoes a corrective trend. The AVAX token is currently trading at $81.95, above the 23.6% Fibonacci retracement level of $78.28.
The 61.8% Fibonacci retracement level of $72.11 serves as a secondary support price for the asset. This price has encouraged investors to time the market and buy AVAX.
Avalanche 100-hourly simple moving average (SMA) value of $72.37 shows that the asset is bullish. This is a good sign for investors who are in the position of a high return on investment.
The Moving Average Exponential (EMA) value of $76.04 confirms the strong bullish run as the asset delivers on its scalable and high-value blockchain.
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