AVAX explodes and reaches new all-time high
AVAX explodes and reaches new all-time highAVAX explodes and reaches new all-time highAvalancheAvalanche

While Bitcoin is stagnating at $45,000, Avalanche (AVAX) exploded and was able to achieve a gain of 30%. This means that AVAX has reached a new all-time high, which of course makes investors happy. Almost all altcoins with a larger market capitalization have lost ground in recent days. AVAX, on the other hand, was able to make significant gains. But other smaller coins have also climbed.

AVAX shot up 30%

Most altcoins had a real crash, but managed to recover a bit. Bitcoin dropped to $44,000, recovered $2,000 and things have currently settled down at around $45,000. Furthermore, Ethereum also sank massively and is currently at just under 3,200 US dollars. At the same time, it still looked very promising at the beginning of last week. Nevertheless, the prices have calmed down somewhat and investors are more relaxed again.

However, some other coins were able to record considerable gains. Something like AVAX, which shot up by more than 30%. This huge increase allowed Avalanche to secure a new all-time high. Cardano, whose network will go through its long-awaited hardfork today, also made decent gains. With a rise of around 12%, investors are waiting for the hardfork. At the same time, Binance Coin, Ripple, and Uniswap all gained around 1%. Dogecoin only managed to register 0.5%, but all coins are in the green.

Luna and Polkadot in particular posted impressive gains. While Luna went up 8%, Polkadot was up as much as 9%. AVAX, on the other hand, was the best performer with an increase of 32%. With this rise, it was able to cross the $64 mark, which is a new all-time high.

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Furthermore, OMG Network with 11 %, Hedera Hashgraph and Elrond with 10 % and Kusama with 8 % also recorded significant gains. Thus, crypto market capitalization has also increased by around $50 billion in one day.

Bitcoin stagnates at US$45,000

Tuesday’s crash sent almost all cryptocurrencies plummeting. Bitcoin lost over US$10,000 in just a few hours. Yet, the price of BTC has remained uncharacteristically stable. Still, after falling from $53,000 to $43,000, BTC tried to overcome the $47,000 price in the next two days.

Unfortunately, without success so far. Also in the last 24 hours, BTC fell again and had a price of 44,000 US dollars. Despite a good reaction, it managed to make slight gains again, but failed to reach the $46,000 mark. Currently, the Bitcoin price at around $45,000 and the market capitalization is $850 billion. However, its dominance over altcoins has declined to 41%.

Despite that the crash brought some coins to their knees, AVAX and others were able to prevail and make notable gains. It remains to be seen what will happen in the coming days and how investors will react. So far they are still relatively relaxed, which of course can change very quickly.

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