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3 reasons why Avalanche is currently pumping despite market correction



Bitcoin and most alt-coins are having a hard time right now. After the big losses of the last few weeks, prices remain relatively stable, but show no signs of new rallies either. In contrast, Avalanche's AVAX token has increased by 20% in the last 7 days. These are the 3 reasons for the Avalanche Rally.

Reasons for Avalanche Rally - 1st USD Coin now in the Avalanche network

The big trigger for the price increases of Avalanche is the announcement of the financial services provider Circle, which has announced the introduction of the stablecoin USD Coin (USDC) on Avalanche. With this step, the network can now distribute the second-largest stable coin worldwide. 

The Fintech Circle is responsible for the USDC and has chosen the network as the new distributor of the stablecoin. This creates another important interface in the Avalanche ecosystem. This gives developers even more opportunities to gain access to the promising ecosystem.

More future dominance in the DeFi market

The market for decentralized financial products (DeFi) harbors extreme potential for future growth for various networks. DeFi could be the future of financial services for ordinary people. DeFi is becoming increasingly popular, especially in poorer regions of the world.

The USD Coin is the second-largest stablecoin after Tether. With the integration of the USDC, many more doors in DeFi are open for Avalanche. In this way, the network can compete more strongly with big competitors like Ethereum, Cardano, and Solana in the future and possibly even dominate. The prospects let the AVAX price rise tremendously.

Bank of America praise

The powerful US bank “Bank of America” has also recognized the potential of the Avalanche network. In a recently published research report, she sees the blockchain as particularly strong in the areas of decentralization and scalability. The network has great potential in the areas of DeFi, NFTs, and decentralized gaming (Metaversum).

In the future, Avalanche should see more and more adoption and, according to the report, could become a serious competitor to Ethereum. These prospects already resulted in massive price gains in Cardano in late summer and Solana in autumn. 

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