Avalanche price action sees bulls dipping toes in to buy stakes. AVAX price is up for today, but a bull trap and longer-term downtrend are set to be triggered by an extensive technical event. Should more dollar strength come into the equation, expect to see AVAX drop below $50. Avalanche (AVAX) is set to shed around 36% of its market cap as, although being on the front foot at the moment, a broader technical bearish signal is set to be triggered. A death cross is when the 55-day Simple Moving Average crosses below the 200-day SMA – as is currently happening on AVAX. Expect Avalanche price to hit $76 sometime today and then eventually drop to the downside as dollar strength will outweigh the current uptick. Greenback is no match for AVAX bulls and sets the stage for a further pullback Avalanche price action is under pressure after another weekend of losses, with the price dropping below $70 intermediary support at the open. Although AVAXis bouncing a bit at the moment, a very bearish signal is just ahead as the 55-day SMA is on the cusp of dropping below the 200-day SMA, triggering a massive inflow of bears that will look to short-sell AVAX across the board, possible resulting in price action being slashed by 36%. Add to that the dollar strength, and expect bulls to be outmatched each time by the weight of the dollar, overpowering investors that look to enter too soon so as to preposition for the relief rally. AVAX/USD compared with DXY daily chart Levels mean AVAX price action could range between $76 to the upside and $70 to the downside. Expect with the dollar on the front foot, more dollar strength to be poured into the AVAX/USD cross and see AVAX dip towards either the monthly S1 at $66.47 or $61.62, a pivotal historical level. Should there be more dollar strength with EUR/USD going to 1.05 or even parity, expect AVAX price to dip towards $46, breaking below $50. AVAX/USD daily chart In the event of some relief headlines AVAX price could shift in direction, squeezing some short-term bears out of their positions and triggering a pullback to $81. The 200-day SMA and the 55-day SMA are in the way, so expect some early profit-taking when price hits those two, before reaching the actual $81-marker. Following that, the rally will probably have slowed down to such an extent that a break of the longer-term red descending trend line looks highly unlikely.

Today, Crypto markets continue to see plenty of fresh demand, taking this week’s fightback to two days. Strong buying is a good turn for holders and buyers as price has been beaten down in recent weeks due to the ongoing conflict between Russia and Ukraine. For many coins, yesterday’s finish was far from confident, but that’s a memory at this point today with quite a modest double-digit percentage gains at the moment. The top 10 and 25 are all in the mix, and the indexes of those coins are a healthy +6% higher. One might have been a little worried about external factors like Bidens crypto executive order and the ongoing conflict in Europe. Biden is set to release the order this week, and traders will be watching with interest in the details and how it could change the way the U.S. treats digital assets. Today we are looking at two of the top 20. These two coins are favourites of the market but not in the top five. Solana SOLUSD – currently price is trading 8% higher back above $88. For now, buyer momentum looks firm, and we need to see price hold above 80.60 support. This is the base of our expectations on the buy-side, and a break below that level writes off the other patterns we are watching. Overall, we can see that price is in a descending triangle pattern and an ending diagonal pattern. Both of these can be seen as breakout patterns if confirmed by a new move out of them. But we have to see support hold. Avalanche AVAXUSD is one of my favourite coins just due to how much it can move. It reminds me of some of the wilder FX and index markets. AVAX has traded as much as 9.88% higher, retaking $79. AVAX, like SOL has key support to defend, but we can see a break of the downtrend with a range in play and a new uptrend continuing to set up. We want to see 71.10 remain in play as support. A break below changes the picture, but while this level remains held, we will look for further upside. 85.55 looks like the next level of resistance if reached. The post Crypto Update: Buyers Return, Solana Avalanche focus appeared first on Eightcap.

ETH’s Shanghai upgrade will boost EVM, reduce Layer-2 fees. BTC’s Lightning network completes it first stablecoin transaction. Polygon unveils a new token burn mechanism. MAR 29, 2022     Key Takeaways Ethereum (ETH)’s latest AllCoreDevs updates talked about the highly anticipated next upgrade named Shanghai, which will incorporate Ethereum Virtual Machine (EVM) upgrades, Beacon Chain withdrawals, L2 Fee reductions, and more.  Bitcoin (BTC)’s Lightning network completed its first stablecoin transaction. Layer 2 solution Polygon (MATIC) introduced a new token burn mechanism called ‘Mobile burn’ to move towards deflationary tokenomics and more predictable gas prices. Cronos (CRO) saw a +8.07% increase in total transactions to 25.04M, while its TVL grew to US$3.67B (+12.83% week-on-week). The total number of wallet addresses now stands at 489,967, up +6.31% from last week. Highlights BNB Chain to launch application-specific sidechains to reduce network strain Top 10 Ethereum wallets now hold 23.7% of total ETH supply: Santiment Bitcoin miner Iris Energy secures $71 million in equipment financing Avalanche bridge to add native support for Bitcoin, expanding opportunities for BTC in Avalanche DeFi Introducing Core: the new operating system for Web3 users Tether (USDT) Issued on Avalanche (AVAX) hits $351 Million Avalanche Foundation, OP3N launch $100M Web3 culture fund Terra’s LFG among largest new Bitcoin (BTC) holders: IntoTheBlock Algorand upgrades will boost speed and privacy, founder says Axie Infinity launches fee reform to scale transactions on Ronin sidechain Cardano set to hit major interoperability milestone as EVM compatible Layer 2 launches Blockchain middleware Pocket Network adds support for L2 solution Boba Layer 1 Project Metrics     Layer 2 Project Metrics    

19 millionth BTC mined, network difficulty reaches record high. Intel launches new BTC mining chip. Axie Infinity’s Ronin bridge hacked, $620M stolen. APR 05, 2022     Key Takeaways Bitcoin (BTC) network difficulty reached an all-time high with the 19 millionth bitcoin mined.  Intel launched Blockscale, a new Bitcoin mining chip aimed at sustainability and hash rate scaling. Axie Infinity’s layer 2 solution Ronin bridge was exploited for more than US$ 620M. The hacker moved stolen funds into the Tornado Cash tumbler. Waves Protocol’s algorithmic stablecoin Neutrino (USDN) unpegged from the US$ dollar on the back of a new governance proposal to keep speculation at bay. Cronos (CRO) saw a +10.50% increase in total transactions to 27.67M, while its TVL grew to US$ 4.00B (+10.32% week-on-week). The total number of wallet addresses now stands at 533,801, up +8.94% from last week. Highlights Polkadot, Kusama to launch Wormhole bridge to Ethereum, Solana Tezos deploys major ‘Tenderbake’ upgrade Chiliz plots sports, entertainment crypto ecosystem with 2.0 chain Bengal Energy to mine Bitcoin using stranded gas wells in Australian outback Bitcoin miner CleanSpark to add 500 MW of mining power, expand to Texas Ethereum layer-2 Boba Network integrates The Graph Helium becomes Nova Labs after raising US$ 200M in fresh capital LayerZero Labs raises US$ 135M to create omnichain crypto networks Cardano-based smart contracts surpass 2,000 mark first time ever Celo’s US$ 20M “Connect the World” campaign aims to vastly improve on/off ramp access and experiences for users Ethermine staking beta for Ethereum miner, a preparation for Ethereum 2.0 Marathon Digital Holdings announces Bitcoin production and mining operation updates for March 2022 Polygon announces new ZK-proof-based identity solution Layer 1 Project Metrics     Sources: Coingecko, Etherscan, Ethernodes, Terra Station, Terra Etherscan, Avascan, Solana Beach, FTMscan, BSCscan, CronoScan, Cronos Explorer, DeFi Lla Layer 2 Project Metrics     Sources:  DeFi Llama, Polygonscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer, Andromeda Metis Explorer Source: Crypto.com

Summary: What is the Avalanche Platform and how does it work? Advantages of the Avalanche exchange. Avalanche’s past, present and future price positions. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM The Avalanche Platform The Avalanche platform is extremely fast, low-cost and eco-friendly. The Avalanche platform is an open, programmable smart contracts planform for decentralised applications (DApps). The Avalanche cryptocurrency rivals Ethereum, and its native token is AVAX. Avalanche prioritises transaction speed and scalability. In addition, the Avalanche network is a proof-of-stake (PoS) network. The Avalanche platform was officially launched in september of 2020. The platform is built across three chains: the C-chain (contract chain) which hosts Avalanches DeFi ecosystem, X-chain (exchange chain) and P-chain (platform). Through the launching of Ethereum's decentralised applications, (which confirm and instantly process thousands of transactions per second, which is far ahead of any decentralised platform today) it is possible to build fast, low-cost solidity-compatible dApps. Avalanche has a maximum supply of 720 million AVAX tokens, with more than 271 million in circulation currently. Avalanche’s current market capitalisation is around $7.25 billion. It is possible to launch private and public customised blockchains; these blockchains can be deployed to fit users own personal needs, dictate how the blockchain should operate and build their own virtual machines. Users are able to scale to millions of validators even through using minimal hardware. Users can lock-up or stake their AVAX to help process transactions and further secure their platform (the security guarantees are well above the 51% standard). The hardware required to join the platform likely exists on your devices already. The Avalanche platform has strong, rigid competitors such as Ethereum, the validators on the platform must stake 2,000 AVAX, careless or malicious validators do not get penalised on this platform. Avalanches native token, AVAX AVAX is used to secure the Avalanche network, to act as a basic unit of account amongst the blockchains in the Avalanche network and to pay transaction processing fees. Avalanches transaction fees are burnt. The AVAX token is used in staking (pledging crypto), to participate in the validation process and to help secure the blockchain. Factors that make Avalanche unique: The rate of coin creation: Avalanche users decide how fast new coins are created. The users control the rate of coin creation by means of voting to change the amount of AVAX that is rewarded to those users who add new blocks to the Avalanche blockchain. Transaction fee structure: the transaction processing costs change depending on the type of transaction and Avalanches network congestion at the time. All fees are burned (removed from circulation) to enable AVAX to become more scarce over time. The AVAX transaction fees are changeable due to the fact that Avalanche users vote on the fee. Consensus mechanism: the transactions made on the Avalanche blockchain are confirmed through the use of a unique method that requires many small, random subsets of network participants in order to confirm transactions before they are finalised. Participation incentives: both high uptime and fast responses can boost the amount of AVAX rewards that a network participant can earn for processing AVAX transactions. Advantages of Avalanches platform: Fast transaction processing time. Reward structure incentivises participation. The avalanche platform is capable of supporting many blockchain-based projects. The randomness of the consensus mechanism makes it a secure cryptocurrency. Avalanche claims that its platform supports stronger safety measures, therefore making the blockchain less vulnerable than other blockchains. Where to buy AVAX There are currently many top exchanges where users can obtain AVAX, such as Binance, OKX, CoinTiger and FTX. Past, present and future prices of Avalanche After the launch of the Avalanche network, the price took a few months to take off, and has since seen quite a lot of volatility. The price rose substantially in the second half of 2021 but has since fallen consistently. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Avalanche falls under this category. According to some analysts the future price of AVAX could reach up to $268 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. AVAX Price Chart Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM Sources: cryptonewsz.com, finance.yahoo.com, coindesk.com, investopedia.com, avax.network

Daily Top Mover — Avalanche (AVAX)   Major U.S. equity continued with the rebound as Nasdaq 100 notched a four-day win streak. The consensus forecast for Thursday’s CPI report is a month-on-month decline, where investors anticipate the slowing down of rate hiking and the potential easing of financial conditions. Meanwhile, the broader cryptocurrency market followed the footstep of equities, with Bitcoin up 3.67%, in the past 24 hours, flipping $18k for the first time since mid-December. Altcoins chalked off massive gains, most of which increased more than 5% in the past 24 hours. The top mover for today, AVAX, which registered a 24-hour return of 25.11%, as of the time of writing, has outperformed the market, due to a newly announced partnership with Amazon Web Services (AWS).     AVAX is the native token of the Layer 1 blockchain Avalanche. As the sixth-largest blockchain by TVL, Avalanche has been losing market share, declining from 6% in early 2022 to 1.71% as of the time of writing. The abrupt price surge came when Avalanche announced a partnership with AWS, the largest cloud provider owned by Amazon. The partnership will support Avalanche’s infrastructure and make it easier and more accessible for decentralized applications (Dapp) to be deployed on the network. AWS is not the first cloud provider to foray into Web3. In October 2022, Google Clouds announced the launch of node-hosting services that support transaction validation and storage on Ethereum.    Market Check   Check Out the Latest Prices, Charts, and Data for AVAX/USDT!   Talk of the Town     Yuga Labs, the parent company of the Bored Ape Yacht Club (BAYC) continues to expand its ecosystem with a skilled-based NFT mint. This unique drop involves Sewer Pass holders to play a game called Dookey Dash. The players’ score would then determine what the pass reveals. Free Sewer Passes can be claimed by BAYC/ Mutant Ape Yacht Club (MAYC) holders, but anyone with a pass can play the game. According to Yuga Labs’ roadmap, the reveal of NFT drop will play an integral role in what is to come in Chapter 1.   Check out what else is buzzing in the crypto scene today:   Voyager received initial approval for a $1 billion Binance.US deal. (Link)   Gemini terminates its Earn program as it is terminating customer loan agreements. (Link)   Reports revealed SBF invested in FTX through multiple related parties without disclosures. (Link)   Yearn Finance will permit users to create vaults of their own and receive deposits from others. (Link)   FTX advisers have recovered some $5 billion in assets. (Link)   Silvergate received a lifeline from the Federal Home Bank to handle customer withdrawals. (Link) Source: Bybit Blog | AVAX Soars Following AWS Partnership; Yuga Labs Announces Skill-Based Mint

Bitcoin jumped 7.2% to $19,000 on Thursday, a high that the first cryptocurrency has yet to trade in the last two months. The intraday growth consisted of two impulses. The first one was due to stop-orders triggering in the morning low-liquid market. The second came in the middle of US trading when markets decided on their reaction to the inflation report. Bitcoin We also note that the first cryptocurrency added in 12 out of 13 days of the new year. Investors hope the bear market will be over with the start of the new calendar year. On the technical analysis side, BTCUSD has turned to the upside, rewrote local highs, and consolidated above the downtrend line from where there were down reversals in August and November. However, yesterday's breakthrough does not mean there will be a rapid rise from here. From June to October, the area around 19k was strong support, and now it might be strong resistance. According to Coinglass, the futures market was liquidated overnight for over $272 million in positions, over $189 million of which were short positions. The figure was the highest since November 10. According to Glassnode, the bitcoin hash rate, smoothed by the 14-day moving average (14-DMA), reached a new high of 270.25 EH/s. Spot trading volume on centralised exchanges fell by 43% at once in December 2022 compared with November El Salvador's parliament has passed a digital securities law allowing the country to raise funds with the world's first sovereign bonds on the bitcoin blockchain. The Fed and banking regulators will continue to study the crypto industry and try to mitigate its risks, said Michelle Bowman, a member of the US Federal Reserve Board of Governors. She said the Fed doesn't want to discourage innovation and is thinking about the right way to regulate it. Spot trading volume on centralised exchanges fell by 43% at once in December 2022 compared with November. On the futures market, the drop was almost 48%. Avalanche, one of the top 20 cryptocurrencies, jumped 22% as altcoin developers partnered with Amazon to leverage Avalanche's ecosystem.

Solana on-chain staking is now supported on Crypto.com. Tether blacklists validator address that drained US$25M from MEV bots. Ava Labs launches Evergreen subnets. Weekly DeFi Index This week’s market cap, volume, and volatility indices were negative at -0.32%, -22.93%, and -45.22%, respectively.     Check the latest prices on Crypto.com/Price             News Highlights Solana on-chain staking is now supported by the Crypto.com Exchange, and SOL token holders can earn staking rewards of up to 5% APR. Head over to Crypto.com for more details. Ethereum’s Shapella upgrade is expected to go live on 12 April and for the first time, users will be able to withdraw their locked ETH from the Beacon chain.  USDT stablecoin issuer Tether blacklisted ‘Sandwich the Ripper’, an Ethereum validator address linked to an MEV bot exploit that drained about US$25 million worth of digital assets. Tether has now frozen 3 million USDT from the exploit. However, the crypto community has expressed concerns regarding the move by Tether.  Avalanche developer Ava Labs released Evergreen subnets, a suite of tooling and customisations aiming to help institutions improve control and communication on the blockchain. A smart contract on DeFi protocol Sushi suffered a $3.3 million exploit over the weekend. The exploit involved Sushi’s ‘RouterProcessor2’ contract used to route trades on the SushiSwap exchange, and developers urged users to revoke the contracts. The protocol confirmed it has recovered 100 ETH (~$186,000) to date. zkSync aided Gemholic, the team behind the decentralised exchange GemSwap, in identifying a solution to retrieve 921 ETH (~$1.7 million) raised in a token sale. This was after a bug in Gemholic’s smart contract resulted in the team losing access to the funds. Read next: Bank of England is reportedly closer to developing a central bank digital currency| FXMAG.COM Recent Research Reports     Liquid Staking Derivatives: Money Legos in DeFi: Today, the liquid staking narrative remains strong in anticipation of Ethereum’s Shanghai upgrade, and this report explores its current landscape. Crypto.com Visa Card Consumer Spending Insights 2022: A full breakdown of what our community across the globe liked to spend their crypto on in 2022. Alpha Navigator: Quest for Alpha [March 2023]: Bitcoin shines amid banking sector turmoil. The market expects a pause in rate hikes, potentially setting up new tailwinds for risk assets. We’re all ears. Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Take our survey now Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2 Source: DeFi & L1L2 Weekly (12/04/2023) (crypto.com)

From Avalanche and Compound to VC Spectra: A Strategic Investment Shift While Avalanche (AVAX) shows signs of the end of the bull run, Compound (COMP) remains stagnant after rallying in the first week of July. All these factors attract investors to VC Spectra (SPCT), which is gaining traction as a brand-new decentralized hedge fund.  Let’s learn more about how VC Spectra (SPCT) leads the way in the upcoming crypto market.   >>BUY SPCT TOKENS NOW<<   Avalanche (AVAX) Foundation Commits $50 Million to Buy Tokenized Assets On July 25, 2023, Avalanche (AVAX) Foundation announced that AVAX blockchain will purchase $50 million of tokenized assets minted on the network. This program is called Avalanche (AVAX) Vista. The AVAX foundation’s vow to purchase tokenized assets is a noteworthy example of the growing recognition of the benefits of tokenization across different asset types. Tokenization has become a dominant force in the crypto market this year, capturing the attention of investors and enthusiasts alike. The initiative is expected to encourage more financial institutions to explore and adopt blockchain-based services, thus fostering the value of Avalanche (AVAX). Meanwhile, Avalanche (AVAX) is trading at $13.30, a 0.37% increase in the last 24 hours. However, Avalanche (AVA) trading volume plummeted to $58 million. Analysts believe that Avalanche's (AVAX) bullish run is over, heading to bearish momentum. Some reports even speculate that Avalanche (AVAX) will fall severely to $10 in the next few months.     Compound (COMP) Price Rally Brought Investors to Joy Compound (COMP) price movement over the last month has lured its investors. Interestingly, there was a robust climb in the Compound (COMP) price, coinciding with its founder Robert Leshner stepping down as CEO.  Leshner launches Superstate Trust, a new short-term government bond fund startup, securing $4 million in funding from DeFi investors. Compound (COMP) has experienced incredible growth of 96% in the past 30 days. After making a significant rise in early July, Compound (COMP) has struggled since last week.  Meanwhile, Compound (COMP) stands at $72.65, a 0.16% decrease from yesterday. Besides that, Compound (COMP) trading volume decreased by 37.67%. Analysis indicates Compound (COMP) potential signs of downhill momentum. Nevertheless, technical analysts are optimistic about a potential bullish trend reversal for Compound (COMP).     VC Spectra (SPCT): The Future of Altcoins As a decentralized hedge fund, VC Spectra (SPCT) aims to democratize blockchain technology access, offering investors profitable returns. It enables peer-to-peer trading and asset management without the involvement of intermediaries or third-party custodians. VC Spectra (SPCT)  aims to tackle issues in the blockchain and technology industry by providing investors with a decentralized trading platform and asset management protocol. The platform operates on a trustless, transparent blockchain infrastructure secured by cryptography and smart contracts. Beyond token ownership, VC Spectra (SPCT) offers unique features like buyback options and quarterly dividends based on token holdings. In Stage 2 of its public presale, SPCT tokens are priced at $0.011, with over 36.8 million tokens already sold and a 37.5% return from Stage 1. VC Spectra (SPCT) stands out in today's crypto landscape with its exceptional real-life utility and substantial growth potential. Investing now in VC Spectra (SPCT) promises a potential 627.27% gain after the presale, with the added benefit of a limited-time 25% bonus on all deposits.   Learn more about the VC Spectra presale: Buy Presale: https://invest.vcspectra.io/login Website: https://vcspectra.io  Telegram: https://t.me/VCSpectra Twitter: https://twitter.com/spectravcfund