December 12, 2023
AVAX (Avalanche)
good news:
Recent Performance: AVAX has had a stellar performance over the past week, rising 76%, rising over 6% in the past 24 hours even as most major cryptocurrencies have declined in market capitalization.
Monthly Growth: AVAX has increased in value by nearly 150% over the past 30 days, rising approximately 400% from its yearly low of $8.70 on September 25 to $34.87.
Trading volume and staking returns: AVAX’s trading volume reached new highs in the fall and winter of 2023, and its platform’s staking return rate is 8.67%, which is higher than many competitors, with nearly 60% of AVAX tokens currently staked.
Fund Inflows and Financial Applications: Based on Coinshares data, AVAX has received inflows among digital asset investment products for 11 consecutive weeks, benefiting from JPMorgan’s asset tokenization test and more than $275 million in rewards for validators, boosting its Attraction in the Cryptocurrency Market.
Bad news:
No significant bad news has been found so far.
Overall judgment on December 12, 2023:
Overall, AVAX has shown a clear positive trend recently. Its strong growth over the past week and past month, coupled with high trading volume and staking returns, as well as the positive impact from JPMorgan’s asset tokenization test and large inflows, indicate that AVAX is currently in a good market position. Despite the overall market volatility, AVAX has been able to maintain strong growth in this environment, demonstrating its strong competitiveness and market appeal relative to other major cryptocurrencies. Therefore, judging from the current market and technology dynamics, AVAX shows a strong positive trend.
