Avalanche (AVAX) Continues to Thrive as "Ethereum Killer" Amid Market Fluctuations - Latest cryptocurrency news

Avalanche (AVAX) Continues to Thrive as “Ethereum Killer” Amid Market Fluctuations

One of the most talked-about projects in the cryptocurrency world, Avalanche (AVAX), continues to be recognized as an “Ethereum killer” among its peers. The price of AVAX has shown a performance exceeding the general market movements, recovering from the $8 level and rising to $37.

Despite Bitcoin‘s decline, AVAX demonstrated a swift recovery, and an analyst stated that AVAX has become unstoppable. Aside from AVAX, many cryptocurrencies in the market experienced a decline. The analyst highlighted QI, which operates on the AVAX ecosystem and is among the top gainers on Binance.

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According to the analyst, nearly all altcoins lost value alongside the fall in Bitcoin’s price. However, QI, the cryptocurrency that showed an increase of over 150% on Binance and became the top gainer, exhibited a market and volume increase of 155% and 253%, respectively.

The overnight increase in AVAX price pleased investors, with the price exceeding $37. The sharp drop in Bitcoin that occurred as Asian markets began trading affected the price of AVAX, which briefly reached $40,400.

Although AVAX’s price did not completely recover from the Bitcoin slump, it quickly rebounded to the $36 level. Despite a 3% decrease in the last 24 hours, it exhibited an incredible performance with a 63% increase on a weekly basis and a 144% rise over the last 30 days. However, considering that AVAX’s all-time high was $144, the current price level of $36 is trading 75% lower than its ATH level.

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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