Avalanche Price Prediction For 2022 - How Far Can AVAX Rally Go?

Avalanche Price Prediction For 2022 - How Far Can AVAX Rally Go?

2021-11-24 | Robin Williams

Avalanche Price Prediction For 2022 - How Far Can AVAX Rally Go?

Avalanche has officially cracked the top 10 coins by market size, with a total market capitalization of over $29 billion, after surging 120 percent in November. The tenth-ranked asset, which was oscillating at $122.38 at the time of writing, knocked Dogecoin out of the top ten clubs, tracking over 30% weekly gains. Avalanche Price Prediction For 2022 - How Far Can AVAX Rally Go?

Avalanche Price Chart - Source: CoinMarketCap

Going against the grain Only a handful looked to be riding the positive wave with Bitcoin trading at $56,630 USD, while the majority of the market consolidated alongside the top assets. AVAX had the largest weekly gains among the top twenty assets, followed by Crypto.com Coin. Throughout this month, AVAX's transaction volumes have remained quite strong, indicating considerable retail excitement. Despite the fact that volumes are fewer than during the August-September rise, the new Deloitte alliance has boosted the alt. AVAX's favorable association with BTC was broken about the same time that Deloitte announced it will develop its disaster assistance services on Avalanche. Indeed, analysts believe that, as a result of this high-profile relationship, the coin will see increased demand. Is it possible that defi growth is driving gains? The entire Defi TVL fell 7.25%$199.9 billion last week as a result of the market correction. Even as the market fell, the TVL continued to rise, indicating a steady inflow of institutional interest. DEXs and Assets, in particular, had significant increases in TVL, with 15.98 percent and 18.43 percent, respectively, on AVAX, further boosting the chain, while loans saw the smallest growth, at 3.43 percent. AVAX's performance in the Defi area, in particular, has played a role in the price increase. Since the NFT frenzy, AVAX has been on a nice rise, with the coin making higher lows for almost two months. As of today, AVAX's Sharpe ratio has been steadily increasing, indicating a healthy upward trend, while its volatility has remained consistently low. However, given the alt's uptrend and elevated RSI, a near-term correction may be in order.

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