Connect with us
Active Currencies 12842
Market Cap $2,049,328,095,772.10
Bitcoin Share 49.27%
24h Market Cap Change $-1.62

Avalanche investors could witness an eventful start to 2023 thanks to these…

2min Read
Multiple updates on the Avalanche [AVAX] network promise glad tidings

Share this article



  • AVAX witnessed growth in its GameFi ecosystem in 2022.
  • Metrics and market indicators suggested a continued price surge in the days to come.

Avaxholic, a popular Twitter account that posts updates about the Avalanche [AVAX] ecosystem, recently revealed the most recent developments.

ODOS, for example, announced a new integration with Avalanche as it launched its DEX aggregator on the chain. Moreover, Holdstation, which is a SocialFi crypto wallet, announced that it started supporting the Avalanche chain.


Read Avalanche’s [AVAX] Price Prediction 2023-24


The new year comes with good news

AVAX’s price action showed signs of recovery, rising by about 4% during the previous 24 hours. At press time, AVAX was trading at $11.31, with a market capitalization of more than $3.5 billion.

Most of the network’s on-chain metrics suggested that things might get even better. AVAX’s popularity went up during the last few days, as it was on the list of the top 10 BNB projects in terms of social activity on 1 January.


Moreover, AVAX’s Binance funding rate registered an uptick lately, reflecting its demand in the derivatives market. AVAX’s positive sentiments increased over the past week, reflecting investors’ trust in the blockchain.

However, AVAX’s development activity decreased significantly, which was a negative sign.

Source: Santiment


How many AVAXs can you get for $1?


Avalanche registered a massive growth in its GameFi ecosystem last year, which might be helpful in 2023. GREE, a Japanese media conglomerate, announced plans to build Web3 games on Avalanche.

Additionally, FIDE, the governing body for the sport of chess, has announced their intention to use Avalanche to innovate with Web3. Apart from these, several other partnerships also took place that helped grow Avalanche’s GameFi space. 

What to expect in 2023?

AVAX market indicators looked pretty bullish, as a few of them revealed the possibility of a continued surge. AVAX’s Relative Strength Index (RSI) registered an uptick and was headed upwards, which was a positive signal.

The Chaikin Money Flow (CMF) also followed a similar route and went up. However, the Exponential Moving Average (EMA) Ribbon was bearish, as the 20-day EMA was below the 55-day EMA.

Source: TradingView


Share

Saman is a News Editor at AMBCrypto. Her background in History and English expanded on her knack for editing and presenting all sides of a story without bias. With a strong will to learn, Saman is always up for exploring unknown territory, and crypto, with its ever-changing landscape, offers just that.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.