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How High Can Avalanche (AVAX) Go In 2022?

 


What is avalanche?

Avalanche is a blockchain network that started in 2020. The network is open source, uses the proof-of-stake consensus mechanism and offers smart contracts . It belongs to the decentralized computing platforms and can be the basis of decentralized applications.


Under the Avalanche umbrella platform, many types of assets should be able to be traded in a decentralized manner. This includes currencies, dApp, commodities, real estate or NFTs. Avalanche's internal token is the AVAX, which can be staked into the network in 2022 for a reward.


What makes Avalanche so special?

Like other modern blockchains such as Cardano or Solana, Avalanche has set itself the goal of solving the so-called blockchain trilemma. This states that it is particularly difficult to develop a blockchain platform that is simultaneously secure, decentralized and highly scalable.


Avalanche was the second major platform in 2021, alongside Solana, that appeared to have achieved that goal. This was mainly due to a modification of the proof-of-stake consensus mechanism that Avalanche uses. Because Avalanche uses 3 separate blockchains at the same time: the  X-Chain , the  C-Chain  and the  P-Chain .


Furthermore, Avalanche uses two different methods for consensus. The Avalanche Consensus Protocol works in the X-Chain, which as an exchange chain is responsible for the creation and exchange of the AVAX token. The other two chains use the Snowman protocol, which is tailored to the tasks of the network. This combination allows Avalanche to process up to 4,500 transactions per second. This makes it one of the fastest blockchains ever.

How has the AVAX token developed in the last few months? 

The AVAX token rose massively in value in the fourth quarter of 2021. From just $10 in July 2021, AVAX's price first surged to $77 in September and $135 in November. At the turn of the year, AVAX was still able to maintain this price level.

It was only in January that we saw bigger losses in AVAX due to weakness in the overall market. After rising again in March from 68 to 98 dollars, the AVAX had to accept heavy losses again in the last few weeks and was only 58 US dollars at the end of April 2022. Avalanche (AVAX) fell out of the top 10 cryptocurrencies by market capitalization again in 2022.


What speaks for renewed increases of Avalanche?

In the fourth quarter of 2021, Avalanche Blockchains benefited from massive hype about extremely scalable smart contract platforms. Solana was at the top before much later the hype shifted to Avalanche. This hype has weakened in recent months. 


Avalanche

But like Solana, Avalanche can score with the continuous growth of the network. Avalanche is growing steadily, especially in the DeFi sector, and more and more developers of decentralized applications are using the Avalanche blockchain as a basis. The Avalanche blockchain offers solutions across an extremely broad spectrum, which improves the forecast.


Furthermore, AVAX staking is a factor that further improves the forecast for Avalanche in 2022. The average annual earnings from staking AVAX Token is almost 10% , which makes staking very attractive for investors.


How high can Avalanche (AVAX) go in 2022?

Right now, the weak overall 2022 market is hurting Avalanche (AVAX) price. According to most expert opinions, under more favorable market conditions, the AVAX price could increase again more strongly by the end of the year.


Most forecasts see the AVAX token at around $150-$160 by the end of 2022, which could rise to as high as $350 in 2023. This would mean that the AVAX can be bought very cheaply at a price of 60 dollars at the moment.

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