Avalanche recovers from Evergrande-led sell-off as AVAX rebounds over 30%

Avalanche recovers from Evergrande-led sell-off as AVAX rebounds over 30%

The sharp bounce back in the Avalanche market still faces risks of exhaustion as the price forms a bearish wedge setup. Avalanche (AVAX) prices recovered on Sept. 22, paring a portion of losses that hit cryptocurrencies at the beginning of this week, led by worries about potential contagion in China’s housing market.The AVAX/USD exchange rate surged by as much as 12.05% to log an intraday high at $66.08. The pair’s gains came as a part of an interim rebound that started Tuesday after it bottomed out at a local low of $50.68. As a result, AVAX’s net rebound stretched by up to....


Related News

How Avalanche Has Climbed It’s Way Towards The Top

If you’ve been paying attention to the broader crypto market lately, you might’ve noticed the emergence of Avalanche (AVAX). While many of the biggest coins in crypto have been experiencing some slight declines, most of which have come after ridiculous gains throughout the year, Avalanche has been outperforming peers by leaps and bounds. If you’re not familiar with the blockchain, spearheaded by Ava Labs, now might be the time to get acquainted. The $AVAX token has found it’s way to aggressively challenging the top 10 cryptos by market cap – no small task....

Avalanche (AVAX) in 'overbought' zone after 100% gains in a week — Correction...

The AVAX/USD exchange rate slips more than 16% after testing its May resistance level. The Avalanche blockchain platform's native asset, AVAX, fell on Aug. 19 as traders decided to secure their profits from its 100% upside move.The AVAX/USD exchange rate plunged more than 16% after hitting a three-month high of $36.64, putting the brakes on a seven-day upside boom that saw its price rise by 111%. It appears that traders felt uneasy about entering AVAX markets near $36 because of its historical reference as a sell-off level, capping AVAX's previous recovery attempts from March to....

Avalanche (AVAX) just hit a new ATH, but what’s really behind the price surge?

AVAX price soared to a record high as heavy inflows enter the protocol through its cross-chain bridge and institutional investors pledge $230 million in funding for the rapidly expanding Avalanche ecosystem. On Sept.16 Avalanche (AVAX) price hit a new all-time high at $68.89 and over the last few months the project has risen to challenge the Ethereum (ETH) network’s dominance among smart contract platforms. According to the project's website, the layer-one protocol capable of surpassing 4,500 transactions per second (TPS) with a time to finality of less than 2 seconds. Data from....

Avalanche pushes out Dogecoin from top-10 after AVAX price soars 100% in Nove...

The market cap of AVAX touched $30.32 billion for the first time in history. Avalanche (AVAX) is now the tenth-largest cryptocurrency by market capitalization after more than doubling in price since the start of November.AVAX entered the top-10 crypto index after pushing out Dogecoin (DOGE). In doing so, its circulating market valuation reached $30.60 billion for the first time compared to Dogecoin's $30.30 billion.AVAX circulating market cap. Source: CoinMarketCapAVAX price hits another record highAVAX price climbed while ignoring price corrections elsewhere in the crypto market after....

3 reasons why Avalanche (AVAX) price is up 200% this month

A rapidly expanding DeFi ecosystem and a new low-cost bridge to the Ethereum network are just a few reasons why AVAX price is up 200% in August. Layer-one blockchain networks like Bitcoin (BTC) and Ethereum (ETH) form the foundation of the cryptocurrency ecosystem and enable smart contract functionality that has allowed the creation of new industries like decentralized finance (DeFi) and nonfungible tokens (NFT).Avalanche (AVAX) is a relatively new layer-one solution that has recently seen a significant increase in price and adoption as the dominant smart-contract platform (Ethereum)....