Global #AVAX

Avalanche (AVAX) is making waves in the cryptocurrency market as renowned trader Captain Faibik predicts a significant price increase.

Grayscale Investments, a leading player in the cryptocurrency investment space, has unveiled its new Grayscale Avalanche Trust, which exclusively holds Avalanche (AVAX) tokens.

Avalanche (AVAX) has been gaining momentum, surging past the $28.65 resistance level. The question now is whether it can maintain this upward trajectory and break through the critical $30.00 resistance zone.

Avalanche (AVAX), a prominent layer-1 blockchain platform, has experienced a 12% decline in price over the past week, currently trading at $27.72. However, recent market data suggests that AVAX may be gearing up for a rebound, with a potential retest of the $30 level.

Avalanche (AVAX) is set to reduce the barriers to entry for launching a new subnet, aiming to attract more game development teams. Previously, creating a subnet required teams to also become validators for the main Avalanche layer, necessitating a stake of 2,000 AVAX.

Avalanche (AVAX) recently surpassed the upper boundary of a descending channel on May 13, leading to an approximately 10% increase in its price. Yet, indications from on-chain data hint at a potential downturn in demand for the altcoin throughout the past week.