Bittime - The year 2023 is shaping up to be an impressive moment for the Avalanche (AVAX) network with an increasing number of AVAX holder addresses. This increases the value of the AVAX token, as reported by Ava Labs President John Wu. In an interview on the Thinking Crypto podcast in February, Wu highlighted the network's significant development.
In the podcast, Wu revealed that Avalanche currently operates 20 live subnets, with hopes of launching more than 80 additional subnets within a year.
Meanwhile, the price of AVAX jumped by 483% from October to its peak on December 23 reaching $50 (IDR 778,000). However, in 2024, the price of AVAX enters a decline that drags its price back to $30 (IDR 468,000). However, recently AVAX rose again at $ 40 (Rp 622,240).
Avalanche to Grow Rapidly in 2023
Wu attributes this growth to the scalability and speed of the network, thanks to its consensus protocol that guarantees the finality of instant transactions. He noted the integration of Vryx and HyperSDK technologies, which allows subnets to handle up to 100,000 transactions per second.
In addition, Wu discussed Avalanche's collaboration with Amazon. The platform helps the tech giant provide computing and storage power to crypto companies through Amazon Web Services.
A striking partnership with JP Morgan was also mentioned. Here, Avalanche has developed a solution for tokenizing alternative assets and accelerating the settlement process, demonstrating the network's ability to connect traditional finance and blockchain.
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Avalanche's 2024 Prospects
Another Avalanche founder, Kevin Sekniqi, has formulated his ambitious vision for Avalanche's blockchain development by 2024. The scheme aims to make Avalanche an Ethereum competitor. Sekniqi's goals include technical improvements to the Avalanche protocol to reduce transaction finality times from two seconds to less than 250 milliseconds.
He also plans to introduce rapid finality in the settlement of network transactions. This has the potential to allow Avalanche to achieve superfast transaction validation in a fraction of a second. Transaction settlement capabilities have the potential to make Avalanche one of the fastest blockchains.
In addition to infrastructure upgrades, Sekniqi emphasized upgrading the Avalanche ecosystem to attract more developers and users. Its initiatives include enhancing the features of Avalanche Wallet Messaging (AWM) and Teleporter for seamless transfer of assets and data across the Avalanche chain, as well as enriching the HyperSDK development kit to offer developers a comprehensive set of customizable tools.
A key innovation is HyperVM, a high-performance virtual machine by Ava Labs, which Sekniqi says could redefine the capabilities of the network and the crypto landscape as a whole.
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AVAX Price Analysis
When the AVAX price surged past its bearish pattern on November 1, 2023, it triggered an impressive rally of 470%. Its value rose from $9 (IDR 139,740) on October 19 to $51 (IDR 793,560) on December 24. This represents an impressive AVAX price rally.
Pada 13 Maret 2024 ini, seiring dengan naiknya aset kripto utama Bitcoin (BTC) yang menembus ATH baru, harga altcoin termasuk AVAX mengalami lonjakan signifikan. Saat ini AVAX diperdagangkan di harga 840.249 per token. Performa harga AVAX cukup mengesankan dengan kenaikan 11,23% dalam 24 jam terakhir yang menunjukkan momentum bullish AVAX.
Sumber: Bittime
Despite the recent bullish momentum, our analysis still points to downside potential as part of a correction phase. This prediction remains unchanged, even with the current price increase. The recent price movement of AVAX could be a signal of the possibility of setting a new record or its new All Time High (ATH).
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How to Buy Avalanche (AVAX) on Bittime
You can buy and sell Avalanche (AVAX) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Avalanche (AVAX) is available on Bittime with the market pair AVAX/IDR. To be able to buy AVAX IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy Avalanche (AVAX) on Bittime.
Monitor the price chart movements of Avalanche (AVAX), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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Avalanche (AVAX) Price Prediction in 2024
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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