Posted 12/12/2023, 3:53:36 AM
Avalanche (AVAX) Bucks Crypto Slump with 79% Weekly Surge Fueled by Surging TVL, Trading Volume, and Market Expansion
- AVAX surged 79% over the past week while other major cryptocurrencies declined
- Analysts attribute AVAX's rise to recent partnerships (JPMorgan, Citi), increased trading volume, and being relatively undervalued
- Avalanche's total value locked (TVL) has grown 82% in the last 3 months amid surging trading volume
- Apollo Crypto CIO said AVAX was previously undervalued compared to tokens like Solana based on TVL
- Even as Bitcoin and Ether prices fell, Solana and Avalanche saw net inflows of funds this past week totaling millions