Avalanche AVAX/USD is a layer-one blockchain and a platform for decentralized applications (dApps) as well as custom blockchain networks.
AVAX is the native token that powers smart contracts on the Avalanche platform and helps process transactions to secure the network.
AVAX development as a catalyst for growthOn November 27, we discussed the price of Avalanche after its sell-off at the time.
Jay Kurahashi-Sofue, who is the VP of marketing at Ava Labs, made an official statement on Twitter that Avalanche reached new all-time heights, as its C-Chain daily transactions got up to 896k.
Additionally, he noted that Avalanche is processing 75% of the load while settling transactions under 1 second at a fraction of the costs in gas when compared to Ethereum.
On December 21, PoolTogether also announced that they went live on Avalanche. This means that through depositing into PoolTogether, AVAX holders can get a chance to win prizes daily and can withdraw 100% of their money at any time.
Furthermore, ImperiumEmpires, which is the world’s first AAA GameFi 2.0 Space Metaverse being built on Avalanche, announced a successful $2.1 funding.
Project Galaxy also announced their plans to come to the Avalanche network, with the goal of curating on-chain credentials and releasing credential-based NFTs using the galaxy Protocol.
All of this can contribute to the future growth of the AVAX token.
Should you buy Avalanche (AVAX)?On December 22, Avalanche (AVAX) had a value of $123.16.
To see what kind of value point this is for the AVAX token, we will go over its all-time high value as well as its performance in November.
The lowest value point of the AVAX token in November was on November 1, when the token had a value of $62.9.
The all-time high-value point of the Avalanche (AVAX) token was on November 21, when it reached a value of $144.96.
This gives us an indication that the AVAX token increased in value by $82.06 or by 130% throughout the span of November.
That said, from November 21 to December 22, the token decreased in value by $21.8 or by 15%.
This puts it at a solid point in time for it to be a decent buy as if it breaks the $130 resistance level, it has the potential to reach $150 by the end of January 2022.
The post AVAX price prediction: Can AVAX grow to $150 once it breaks its current resistance level? appeared first on Invezz.
