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An ‘Avalanche’ of collaborations may act in favor of AVAX’s price, here’s how

An ‘Avalanche’ of collaborations may act in favor of AVAX’s price, here’s how

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Avalanche brand AVAX noticed a spike in development activity last week. This was accompanied by an increase in their power implementations of smart contracts. The spike in development activity may be due to AVAX’s future development collaborations which Avalanche may have thought of.

However, that’s not all, as the AVAX whales showed their support also a sign.

A lot in the works

As you can see in the chart below, Avalanche development activity reached new highs in the past few days. The spike in development activity was a positive indicator for traders.

In addition, the increase in development activity may be due to Avalanche’s future plans to update its technology. The spike may also be visible as a result of future cooperation.

Source: Santiment

But the good news doesn’t stop there for the Avalanche. According to whalers update As of September 21, the top 500 AVAX whales have consistently bought the token at an average of $29,000 per whale.

This could mean that AVAX whales believed in the growth of the brand and were willing to increase their exposure to the AVAX brand.

However, there are also some concerns. Last month, AVAX’s volume declined by 76%. In addition, as shown in the chart below, the altcoin market value has also been declining. Its market cap dominance fell 5.29% last week.

In addition, AVAX’s social media dominance was also not seen as too strong. The turnaround happened despite the high activity in early August.

Source: Santiment

An avalanche of prices? Too early to judge

Although AVAX has not managed to leave its mark on the social media landscape, its increasing collaboration can be considered positive. An avalanche is expected to occur cooperate With KKR & co., in an effort to tokenize the visibility of investors interested in the investment service company.

In addition, Avalanche released a new update, which includes new improvements to their validation protocol. With this technological development, AVAX saw a huge spike in the number of smart contracts. available on their platform. At the time of writing, there were over 1.8 million unique contract deployments online. This can be seen as confirmation of the idea that the team was constantly improving its technology.

At press time, AVAX was trading at $17.92, up 6.5% in the past 24 hours. Despite the volatility of AVAX, given the nature of the development, the token may have a positive future in the long term.

Short-term and long-term investors can also keep an eye out Avalanche’s recent security updates that have been released.



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