Altcoin
Avalanche investors could witness an eventful start to 2023 thanks to these…
- 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.
Latest news update in the @avalancheavax ecosystem!$AVAX #AVAX #Avaxholicnews pic.twitter.com/naTV2YpjtT
— Avaxholic ? (@avaxholic) January 3, 2023
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 $3.5 billion.
Most of the network’s on-chain metrics suggested that things might get even better. AVAX’s popularity went up during the last few days, as it was on the list of the top 10 BNB projects in terms of social activity on 1 January.
TOP 10 #BNB CHAIN PROJECTS BY SOCIAL ACTIVITY$QUACK $BNB $DOGE $CAKE $MATIC $DOME $AVAX $UNI $TWT $CEEK pic.twitter.com/TfM6T3WUXE
— PHOENIX ?? (@pnxgrp) January 1, 2023
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.
Gaming on Avalanche took huge steps in 2022 and it’s still just the start.
2023 is going to be huge, let’s honor 2022 with a recap thread.
0/32
— Avalanche Gaming ? (@GamingOnAvax) January 1, 2023
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
