Skip to main content

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. 

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
Upland - Collect Digital Properties & Test Your Skills
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more