With its price climbing 17% over the past seven days, Avalanche (AVAX) has lately been on . Right now, the cryptocurrency is trading at $28.12, up 7% over the past 24 hours alone. This abrupt increase fits a larger recovery across the crypto market driven by a significant shift in the US financial scene: the Federal Reserve’s decision to lower interest rates.
Source:
The Fed lowered interest rates by 50 basis points on September 18, therefore defining the new range as 4.75%-5%. Aimed at helping to lower inflation and increase economic development, the Fed’s decision to drop rates is the first one in four years.
Although the cut was anticipated, it nonetheless caused volatility in both conventional and cryptocurrency markets; AVAX turned up as one of the best performers. AVAX’s price projection is still quite positive meantime. With the cryptocurrency selling 227% below projected price projections for next month, a major
Source: Defillama
DeFi Powerhouse In The Making
The current price increase goes beyond simply macroeconomic considerations. As it keeps increasing its total value locked (TVL), Avalanche is also making great strides in the decentralize finance (DeFi) department.
From 28.1 million AVAX in Q1 to 30.8 million AVAX in Q2, Avalanche’s TVL has climbed by 11% in recent months, data from DeFiLlama shows. The TVL across all protocols on the network as of September 18 stood at 38.63 million AVAX.
AVAX is currently trading at $27.7. Chart:
Evaluating uptake and liquidity inside DeFi networks depends critically on TVL. Higher TVL usually indicates that more people are locking assets into DeFi systems, which would translate for increased pricing stability and long-term expansion for AVAX.
AVAX Projections: Short-Term/Long-Term
Technical indicators of AVAX point to a bright future. Supported by significant accumulation and improving market sentiment, analysts estimate the token might climb by 245% in the next three months. Six months from now, a 180.19% gain is expected; over the next year, a 166.37% rise follows.
Source:
As Avalanche gets greater traction in both its DeFi environment and the larger crypto market, these forecasts confirm a productive months ahead.
Although the rate decrease by the Federal Reserve has given the market great momentum, some experts think that its influence might be fleeting. Though the longevity of this surge is yet unknown, risk assets like cryptocurrencies generally react significantly to changes in interest rates. But given about half of AVAX holdings are currently in profit, investor attitude is generally positive.
All eyes are on the token’s ability to shatter important resistance levels as Avalanche gains traction in the DeFi market. Should the state of the market remain positive, AVAX may be en route to both long-term and short term growth.
Featured image from Pexels, chart from TradingView
They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Read more
Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!
So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Close
Disclaimer: The information found on NewsBTC is for educational purposes
only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
investments and naturally investing carries risks. You are advised to conduct your own
research before making any investment decisions. Use information provided on this website
entirely at your own risk.
