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

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Multiple updates on the Avalanche [AVAX] network promise glad tidings
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  • 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

 

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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