Altseason, the much-anticipated event is just around the corner. Leading altcoins have been attracting massive interest from investors. Avalanche is one of the crypto assets which experts believe could reach new heights and break all records. AVAX, compared to other crypto assets, is still a relatively new blockchain. It has the potential of unlocking a brand new growth window over the next few months.
Avalanche launched in 2020, and became instantly one of the top layer 1 networks for the previous crypto-cycle. Avalanche, along with Solana and Polygon gained traction on the blockchain scene due to its unique architectural design. Avalanche was a cost-effective, scalable, fast solution for the blockchain industry when scaling issues on Ethereum arose.
Avax, Avalanche’s native currency ($4.6) soared 10x in just a few months after it was launched. AVAX reached its highest price ever on 22nd November 2021, according to Coinmarketcap data.
Avalanche, which joined the crypto race right at the beginning of this cycle, has been able to establish itself as a leader among the leading blockchains. AVAX’s price gains seem to be suppressed when compared with other blockchains which emerged during the same period. According to market data, AVAX’s all-time price gain is 647%, while SOL’s is 16,264% and MATIC is 14,900%.
AVAX will have to wait until the months following Bitcoin’s halving before deciding if Avalanche is going to outperform other coins or be labeled a “Dead Chain”, which only lasted one cycle. It’s also been recommended by many analysts to be the top cryptocurrency asset for looking at the next bullrun.
AVAX price break $150 possible?
AVAX currently trades at $35. This is far from the previous highs. After Bitcoin’s halving, it is predicted that AVAX will accelerate its recovery and move towards new highs along with all other cryptoassets. AVAX’s current high-water mark is $128,78, and a new record is expected to be above $150 during the next cycle. The $150 price is a small amount compared with the excessive gains that the crypto market could achieve in the current bullrun.
Please read also: What will happen to Polygon MATIC after the Bitcoin halving?
FAQ
AVAX could cost as much as $150 by 2024 and 2025.
Bitcoin’s halving has no direct impact on Avalanche. AVAX is likely to rise in price with the upswing of the market and the Bitcoin halving.