Avalanche (AVAX) Surges 15% Following USDC Addition
AVAX is among the top-performing digital coins today as Avalanche value gained more than 14% within 24 hours of adding USD Coin (USDC) to its network.
According to CoinDesk reports, John Wu, Ava Labs President, said Avalanche would support USDC minting and printing, saving users costs. Adding this stablecoin is reasonable as the platform sees more USDC usage than USDT. Furthermore, traders based in the US trust USDC than USDT. That is because Tether has dealt with multiple controversies and legal battles over the past years.
The announcement catalyzed a 15% surge in AVAX’s price, totaling around $90. The altcoin keeps the resistance zone at $100 on its radar. However, touching this level will rely on the overall crypto market mood. The correct catalysts in the global marketplace will trigger upward rallies for Avalanche.
Avalanche touched its ATH on 21 November, hovering near $134. For now, analysts believe the altcoin might surge to test this record peak before year-end. Furthermore, the platform anticipated DApps launching in the coming days, supporting the upward narrative.
The top Web3 developer Moralis currently hosts a $500,000 Avalanche hackathon for apps built with its ecosystem on Avalanche. The hackathon began on 6 December and will end on 31 January. That means market participants can see many impressive Apps joining the Avalanche platform before 2022 February.
About Avalanche
Avalanche is a blockchain platform supporting tokens, exchanges, and DeFi app launches. AVAX is Avalanche’s native token, with a PoS consensus mechanism. Its official website states that it is a programmable, open smart contracts network for Dapps.
The best thing about Avalanche is that it is friendly to the environment. With its PoS method, AVAX does not waste electricity with mining activities. Furthermore, ETH developers can utilize this platform to create Solidity-compatible decentralized applications. Avalanche platform has much documentation for seamless smart contracts’ creation.
Avalanche Price
While publishing this article, AVX trades at $90.73 after gaining 15% within the last 24 hours. That had Avalanche’s market capitalization rising while ranking 7th in the crypto list. You can buy AVAX on KuCoin, Bittrex, Coinbase, and Crypto.com Exchange.
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