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How Avalanche Has Climbed It’s Way Towards The Top

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What Is Avalanche

If you’ve been paying attention to the broader crypto market lately, you might’ve noticed the emergence of Avalanche (AVAX). While many of the biggest coins in crypto have been experiencing some slight declines, most of which have come after ridiculous gains throughout the year, Avalanche has been outperforming peers by leaps and bounds.

If you’re not familiar with the blockchain, spearheaded by Ava Labs, now might be the time to get acquainted. The $AVAX token has found it’s way to aggressively challenging the top 10 cryptos by market cap – no small task – and there’s been no memes necessary to make it all happen.

When It Rains, It’s… An Avalanche?

While the dictionary definition of an avalanche is “snow, ice, and rocks falling rapidly down a mountainside,” the AVAX token has been… exactly the opposite in recent weeks. The one-month chart tells quite a story, with a price that has roughly doubled in the past thirty days:

AVAX has had stellar Q3 and Q4 this year. | Source: AVAX-USD on TradingView.com

This is nothing to write off. In fact, if you look at the top 20 tokens by market cap, excluding stablecoins, at the time of publishing only two tokens have a green chart over the past 7 days: Crypto.com’s token, $CRO, which has performed well after sealing in the naming rights to Los Angeles’ formerly-known Staples Center, and of course, Avalanche. The surge has led AVAX to surpass meme tokens like Dogecoin and Shiba Inu in top coins by market cap. At the time of publishing, AVAX has been neck and neck with DOGE with regards to market cap. That’s no laughing matter.

Meanwhile, some of those top tokens, including well-established, long-standing players like Litecoin and Chainlink, have dropped 15-20% over the same time period. So what’s been the secret for Avalanche’s success lately?

Opportune Timing: Deloitte Deal

Some of Avalanche’s success has to be credited to ideal timing. Momentum had already been building in late October and into early November. Last week, our team covered the story of Ava Labs new deal with Deloitte, aimed towards building better efficiency around disaster response times.

However, even earlier in the year, our team also released an in-depth report that highlighted Avalanche as a prime contender for holding a big piece of DeFi market share. The momentum has since been growing for the blockchain; in September, The Avalanche Foundation raised nearly a quarter of a billion dollars. Avalanche also launched a massive incentive program in recent months to attract investors.

Ethereum challengers that offer substantially lower gas fees, show strong potential in DeFi and NFTs, engage in more environmentally-friendly transactions, and conduct fast transaction times have been given their opportunity to shine this year – arguably as much, if not more so than in years past. Solana, for example, hit record highs in recent weeks as the token establishes itself as a firm #2 in NFTs behind Ethereum. And of course, Avalanche is certainly a viable candidate here as well.

Avalanche: More Than Just Riding A Wave

With all of this in mind, don’t dismiss Avalanche for just having a hot streak at the right time. The token does have fundamentals that justify it’s surge in price given the heat in the DeFi and NFT space lately, and offer plenty of reason for positivity.

The team at Ava Labs haven’t gone full-force in marketing, and rather, have focused on in-depth whitepaper details and building on the chain’s fundamentals. Avalanche utilizes a consensus model, which means that rather than a Proof-of-Work or Proof-of-Stake mechanism, the chain utilizes random voting to validate transactions. This makes the chain much more difficult to attack and exceptionally efficient with regards to transaction times and volumes. The Avalanche product leaves us with plenty to write home about.

Furthermore, as many know, Avalanche is actually composed of several chains, including the X-Chain, smart contract C-Chain, and the P-Chain. This is especially developer-friendly, giving blockchain engineers versatility in products that they are creating. AVAX tokens also include governance, however the token is subject to a substantial amount of pre-sale tokens that could be unlocked in the months to come.

While Avalanche is all business, did we really say no memes!? This is crypto, so some memes are just a prerequisite.

Related Reading | How to Buy DeSo Crypto and Sell – Crypto Bite

Featured image from Pixabay, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

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The Federal Reserve Is Expected to Implement Tactics That Could Help BTC

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The Federal Reserve Is Expected to Implement Tactics That Could Help BTC

The price of bitcoin has shot up in recent weeks and is now trading for over $17K. There is high anticipation that another bull run could be heading our way given that Jerome Powell – the head of the Federal Reserve – is slated to make a speech in the coming days about what the agency’s plans for inflation are.

Could the Federal Reserve Aid BTC for Once?

It is believed that Powell will announce soft inflation tactics, meaning his organization will be able to incorporate methods of fighting further price hikes without running the economy any more than they already have. If this happens, bitcoin could well be on its way to another high point. Danni Hewson – financial analyst at broker AJ Bell – explained in a statement:

The latest U.S. jobs data had something of a ‘Goldilocks’ quality about it, with jobs growth robust enough to hint that the miraculous ‘soft landing’ might still be a possibility for the U.S. economy, while still delivering a slowdown in wage growth which should placate a twitchy Fed.

The Federal Reserve has long been at the center of bitcoin’s ongoing (and horrendous) plight. The currency has been falling into oblivion for about 12 months, the main reason being that the Federal Reserve has been adamant about ongoing rate hikes. These hikes are put in place as a means of fighting inflation, but the fact remains that they haven’t done much when it comes to curbing the prices of food items and gasoline.

By contrast, all they’ve really done is make it so that nobody can afford a car or a house. In addition, crypto prices have been beaten to a bloody pulp and are only starting to show signs of coming back.

Some are not so sure that the Federal Reserve will be able to make such a move just yet. In December, a report emerged showing that job growth had significantly slowed down during the final months of 2022, more proof that the economy was still in an unstable position.

However, Richard Carter – head of fixed interest research at Quilter Cheviot – commented that it was, by contrast, a testament to how far things have come. He stated that despite jobs dying in recent weeks, the country is in a relatively stable position. He commented:

The latest U.S. jobs data is another reminder that the world’s largest economy remains largely intact despite what inflation did in 2022. Attention now turns back to the inflation data to get a better steer on how long the Fed’s hawkish behavior will last.

Soft Tactics May Be Arriving

Susannah Streeter – senior investment and markets analyst at Hargreaves Lansdown – further explained:

Expectations have risen that aggressive moves by the Federal Reserve are finally bruising the resilient labor market and wounding a wage spiral.

Tags: bitcoin, federal reserve, Inflation


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Binance Coin Reaches Bullish Exhaustion and Faces Rejection at $320

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Binance Coin Reaches Bullish Exhaustion and Faces Rejection at $320

Jan 30, 2023 at 16:30 // Price

The price of Binance Coin (BNB) has been moving in the zone of uptrend since the beginning of the rise on January 14. After reaching a high of $314, the cryptocurrency’s price started to fluctuate below the barrier again.

Binance Coin price long term forecast: bullish


The digital asset is currently in a downtrend after retesting the $320 barrier. However, the uptrend will resume if the recent retracement remains above the 21-day line SMA. If BNB breaks above the $320 resistance, it will continue to rise and retest the overhead resistance at $359. On the other hand, if BNB falls below the moving average lines, it will return to its previous low at $249. At the time of writing, the altcoin is currently trading at $307.90.


Binance Coin indicator display


BNB is declining and is currently at level 59 on the Relative Strength Index for period 14. Since BNB is in the positive trend zone, it is set to rise. The fact that the price bars are higher than the moving average lines suggests that the price of the cryptocurrency will continue to rise. Above level 25 of the daily stochastics, the altcoin is in a bullish momentum.


BNBUSD(Daily Chart) - January 30.23.jpg


Technical indicators:


Key resistance levels – $600, $650, $700



Key support levels – $300, $250, $200


What is the next direction for BNB/USD?


BNB has dipped below the moving average lines on the 4-hour chart, but has risen above the 50-day line SMA. The altcoin is currently between the moving average lines. If it crosses SMA on the 21-day line, the cryptocurrency will gain value. In the meantime, if buyers fail to break the resistance level, the sideways movement could continue.


BNBUSD( 4 Hour Chart) - January 30.23.jpg


Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their research before investing in funds.


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Will Madeira Become Bitcoin Paradise? – Bitcoin Magazine

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Will Madeira Become Bitcoin Paradise? - Bitcoin Magazine

This is an opinion editorial by Joe Nakamoto, a pseudonymous Bitcoin traveler and reporter who helped create a recent documentary on Madeira’s Bitcoin adoption.

What is a Madeira? Why do Bitcoiners keep talking about it? Does it come with fries? And why did Pleb Music (aka, Max DeMarco) shoot a Bitcoin documentary on this tiny island?


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