Avalanche (AVAX) Surges, Driven by Expansion of Board of Directors and Investor Interest

Bittime – The crypto is once again enlivened by Avalanche (AVAX) which experienced a significant price increase.

In the last 24 hours, the price of AVAX jumped 8.7%, breaking through $54 for the first time since May 2022. This increase is certainly a breath of fresh air for the smart contract platform .

Optimism returns after a period of sluggish trading. The recent price spike signals the resilience and potential of the AVAX ecosystem.

Main Factors of AVAX Price Increase

Some of the main factors that drive AVAX price increases include:

1. Expansion of the Avalanche Foundation Board of Directors

The Avalanche Foundation is taking a strategic step by expanding its Board of Directors. New members, such as @demirelo, @Ahnor_Block, and @Vikram_Nagrani, bring diverse expertise from various sectors.

This is expected to ensure mature decision making and the right strategic direction for Avalanche's future.

2. X Account Launch

Additionally, the Avalanche Foundation also launched Account X. This dedicated platform aims to increase transparency and engagement of the Avalanche community.

Account

Also Read: Uncovering the Potential of AVAX and the Growing Avalanche Ecosystem

3. Bullish On-Chain Data

Bullish indicators from on-chain data show increasing investor interest in the AVAX token. This increase also triggered an increase in the price of AVAX.

4. Whale activity

On-chain data analysis also shows high activity from whales (investors with large crypto holdings).

AVAX spot trading volume jumped 27% to $2.73 billion in the last 24 hours. This shows the important role of institutional investors and big investors in influencing AVAX market dynamics.

5. High Market Capitalization

With its market capitalization once again surpassing $20.5 billion, Avalanche reaffirmed its position as a major player in the crypto world.

While still 62% below its 2021 record high, AVAX's current price movement hints at potential further upside.

Check Today's Crypto Market:

AVAX Price Today

Source: Bittime

Today AVAX experienced a price increase of +2.91% to IDR 868,409. This increase makes it optimistic that AVAX will experience positive price predictions in the future, or at least during 2024.

According to the graph above, AVAX got its highest price of 928,456 IDR in the last 24 hours. 

You can further observe the price of AVAX continuously over the Bittime period. That way, you can find out AVAX according to its real time price .

Price checking can also be done by adjusting graphic indicators. As the graph above has 3 general indicators to find out token prices in general, namely RSI, MACD, and Bollinger Bands.

Also Read: Bitcoin Breaks New ATH Record Up to IDR 1.13 B as ETF Gobbles Up Supply

AVAX Price Prediction for March 2024

Crypto analysts predict the price of AVAX will continue to increase. Rekt Capital analysts expect AVAX to surpass its previous peak, with the next major resistance level coming in the $65 to $70 range. 

Meanwhile, Changelly estimates AVAX's value will increase by 11.4% to $54.63 until March 13 2024, with a potential Return on Investment (ROI) of 104.1% until March 2024.

With growing demand, ecosystem expansion, and positive on-chain data, Avalanche (AVAX) has a great opportunity to continue competing in the dynamic crypto space.

Also Read: Avalanche (AVAX) Price Prediction in 2024

Avalanche Future (AVAX)

The future of Avalanche (AVAX) looks bright, driven by several key factors:

1. Strong Leadership

With the presence of experienced leaders on the Board of Directors, the Avalanche Foundation can make informed strategic decisions that have a positive impact on ecosystem growth.

2. Transparency and Community Involvement

The launch of Account X will simplify the flow of information and increase community engagement. This can strengthen investor confidence and encourage future innovation.

3. Scalable Technology

Avalanche's ability to process transactions quickly and with low fees is a significant competitive advantage. Going forward, Avalanche needs to continue to innovate to maintain this advantage.

4. Growing DeFi Ecosystem

The growth of DeFi platforms on the Avalanche network will attract more users and investors. Collaboration with promising DeFi projects could be a catalyst for Avalanche's growth.

5. Widespread Adoption

More decentralized applications and projects built on the Avalanche network will increase AVAX token utilization and strengthen the platform's fundamentals.

Also Read How to Buy Crypto:

AVAX's Future Challenges

While Avalanche's future potential looks promising, it's worth noting that investing in crypto always carries risks. Some challenges to be aware of include:

1. Crypto Regulation

The crypto industry still faces regulatory uncertainty. Strict regulations could hamper the growth of Avalanche and the DeFi ecosystem as a whole.

2. Tight Competition

Avalanche isn't the only player in the blockchain space. Competitors like Solana and Ethereum continue to innovate and introduce exciting new features.

By continuing to innovate, build a strong community, and overcome existing challenges, Avalanche (AVAX) has a great opportunity to become a key player in the crypto world of the future. Investors need to keep abreast of developments in blockchain technology, crypto regulations, and competition in the market to make informed investment decisions.

How to Buy Avalanche (AVAX) on Bittime

You can buy and sell Avalanche (AVAX) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Avalanche (AVAX) is available on Bittime with the market pair AVAX/IDR . To be able to buy AVAX IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets 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.

Also Read: 

Bitcoin Price Prediction: Heading for a New Target or a Liquidity Crisis?

Bitcoin Breaks New ATH Record Up to IDR 1.13 B as ETF Gobbles Up Supply

What is MAP Protocol (MAP)? The Future of Multi-Chain Security

DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.