Avalanche (AVAX) Continues to Shine as a Leading Cryptocurrency Despite Market Fluctuations - Latest cryptocurrency news

Avalanche (AVAX) Continues to Shine as a Leading Cryptocurrency Despite Market Fluctuations

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.

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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.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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