Avalanche (AVAX), one of the most talked-about projects in the cryptocurrency world and often referred to as the “Ethereum killer,” continues to hold its place among such distinguished cryptocurrencies. The price of AVAX has shown a performance beyond the general market movements, recovering from the $8 level and rising up to $37.
Despite Bitcoin‘s decline, AVAX demonstrated a quick recovery, and an analyst declared that AVAX has become unstoppable. Aside from AVAX, many other cryptocurrencies in the market experienced a drop. The analyst highlighted QI, which operates within the AVAX ecosystem and is listed on Binance as one of the top earners.
According to the analyst, nearly all altcoins lost value together with the drop in Bitcoin’s price. However, QI, which became the top-earning cryptocurrency on Binance with an increase of over 150%, showed a rise of 155% and 253% in market and volume, respectively.
The overnight increase in AVAX’s price pleased its investors, pushing the price over $37. The sharp drop in Bitcoin when the Asian markets started trading affected the price of AVAX, and for a brief period, the price reached up to $40,400.
Although AVAX’s price could not fully recover from the Bitcoin drop, it quickly rebounded to the $36 level. Despite a 3% drop in the last 24 hours, it has shown an incredible performance with a 63% increase on a weekly basis and a 144% increase in the last 30 days. However, considering that AVAX’s all-time high was $144, the current price level of $36 is trading at a level 75% lower than the ATH.