The Avalanche (AVAX) price has become one of the best-performing cryptocurrencies in the last 24 hours, rising by 6.27% from $49.61 to a high of $55.19. Currently, the AVAX price is changing hands for $52.93.
During the last bull run, the price of Avalanche reached an all-time high of $146.22 in November 2021, but it is now 63.77% below that high. If the market continues to perform well, AVAX could return to this ATH and possibly reach new highs in the coming weeks.
Several exciting factors in the Avalanche community suggest a possible price increase. These include a new partnership with The New York Red Bulls and Sports Illustrated Tickets, the launch of Uplink as the first Decentralized Physical Infrastructure Network (DePIN) on Avalanche, new investments, and the launch “Avalanche9000.”
Avalanche9000 goes live on 16th
Avalanche9000 is a major update for the Avalanche ecosystem that aims to lower the cost of building a custom Layer 1 blockchain by addressing the high costs of setting up a node on the network.
Previously, setting up a node required an upfront payment of 2,000 AVAX, which was quite expensive at about $53 per token currently. Now, validators will only need to pay 1.33 AVAX each month, similar to a subscription model.
This update offers great value for individuals and businesses: it is cheap, fast, customizable, and secure. As a result, we can expect more developers and companies to start using the Avalanche blockchain for various projects soon. The Avalanche team has reported that more than 500 Layer 1 chains are currently being developed across different sectors.
Importantly, this update has recently secured $250 million in investments from locked-token sales. Galaxy Digital, Dragonfly, and ParaFi Capital lead this funding effort, which includes over 40 other leading investment firms.
AVAX price prediction: Experts’ insights
Crypto experts are optimistic about the future price of Avalanche (AVAX). Predictions vary, but they all suggest that the price will rise.
Some analysts believe AVAX could reach $75 next week due to the upcoming launch of Avalanche9000, the biggest release for AVAX yet, scheduled for the 16th. Others think the price could break through at $126.03 or even $184.19.
One analyst, known as “TrendFi,” expects the price to hit $75 next week.
Another analyst, JAVON MARKS, says the first target will be $126.03, with the potential for a 126% increase from that level.
Additionally, a trading signal group, Rose Premium Signals, shared its analysis of AVAX against USDT. They noted that AVAX is showing a long-term rounded bottom pattern, often signaling a bullish breakout after a downtrend.
They see $36.63 as a strong support zone and set three AVAX price targets for future gains: $113.57, $150.26, and $184.19. They believe there’s a good chance for significant price increases if the positive trend continues.
Read more: Can Avalanche Price Soar to $1k as One Crypto Pro Predicts
