{"id":632237,"date":"2024-07-30T12:30:15","date_gmt":"2024-07-30T12:30:15","guid":{"rendered":"https:\/\/ktsl888.com\/?p=632237"},"modified":"2024-07-30T14:23:11","modified_gmt":"2024-07-30T14:23:11","slug":"avalanche-avax-continues-freefall-sheds-12-in-last-7-days-can-it-recover","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/avalanche-avax-continues-freefall-sheds-12-in-last-7-days-can-it-recover\/","title":{"rendered":"Avalanche (AVAX) Continues Freefall, Sheds 12% In Last 7 Days – Can It Recover?"},"content":{"rendered":"

Avalanche (AVAX) is currently on a downward trend, one that it has not broken since last month. The latest market data shows that the token has depreciated 12% since last week<\/a>, a huge loss for investors and traders interested in the token.<\/span><\/span><\/p>\n

Related Reading: Bitcoin On Fire: 20% Surge In 3 Weeks Teases Record-Breaking Potential<\/a><\/div>\n

Despite this, the platform is maintaining its momentum. A new upgrade proposal might improve developer and user experience on the platform, further onboarding new users and developers to use Avalanche.<\/p>\n

The Gist Of ACP-77<\/strong><\/h2>\n

ACP-77 is the newly announced major proposal<\/a> made by the Avalanche Foundation to simplify the system for developers, enhancing the flexibility of launching subnets on-chain.<\/span><\/p>\n

Avalanche<\/a> subnets act like layer-1 blockchains, with the subnets using the mainnet as a bridge between subnet to subnet.<\/p>\n

According to the proposal, the current system of launching subnets on-chain limits developers. With a minimum 2,000 AVAX stake needed by subnet validators, the financial barrier filters devs with little to no funding, driving innovation downward. Thus, ACP-77 proposes to remove the financial barrier along with the required mainnet validation for subnet validators.<\/span><\/p>\n

This means developers won\u2019t be hampered by a huge upfront financial commitment along with the technically difficult task of validating the mainnet. This means more time on the drawing board, effectively encouraging developers to have a more finished product upon the launch of their subnet.<\/span><\/p>\n

AVAX market cap currently at $10.5 billion. Chart: TradingView<\/a><\/figcaption><\/figure>\n

It will also help with enhancing the decentralization of the platform. Upon approval of the proposal, subnets will be granted more autonomy in terms of certain settings that they would like to be implemented.<\/p>\n

In exchange for the removal of the mainnet validation, subnet validators will instead validate the P-chain (platform chain). This will ease resource use, making resource allocation more efficient.<\/span><\/p>\n

The proposal will have an overall positive impact on the platform. Lowering costs and resource requirements for developers will help bring in new devs to build on Avalanche, enhancing the platform for users.<\/span><\/p>\n

Related Reading: Optimism Drops 12%: Should Investors Still Be Optimistic? These Metrics Say Yes<\/a><\/div>\n

AVAX Downtrend<\/strong><\/h2>\n

Although the token has been riding the slide downward since the start of the year, AVAX<\/a> bulls seemed to have found the perfect support for a possible breakthrough.<\/p>\n

The bulls seemed to have settled around the $26~$29 range. This support and ceiling boasts strengths for both the bulls and the bears alike. However, the bulls have a major advantage on this position.<\/span><\/p>\n

Although the market has corrected itself to a more sustainable level, major cryptocurrencies like Bitcoin and Ethereum are in the position to burst upward pulling the market along with them. AVAX, with its high correlation with Ethereum, will follow the general market trend once bearishness settles down.<\/span><\/p>\n

However, macro-economic factors will affect the major tokens which will either help or stifle value growth within the market. AVAX bulls should then wait and further consolidate their current position. Once the opportunity presents itself, the token has the potential to reach $34 in the medium to long term.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Avalanche (AVAX) is currently on a downward trend, one that it has not broken since last month. The latest market data shows that the token has depreciated 12% since last week, a huge loss for investors and traders interested in the token. Related Reading: Bitcoin On Fire: 20% Surge In 3 Weeks Teases Record-Breaking Potential Despite this, the platform is maintaining its momentum. A new upgrade proposal might improve developer and user experience on the platform, further onboarding new users and developers to use Avalanche. The Gist Of ACP-77 ACP-77 is the newly announced major proposal made by the Avalanche Foundation to simplify the system for developers, enhancing the flexibility of launching subnets on-chain. Avalanche subnets act like layer-1 blockchains, with the subnets using the mainnet as a bridge between subnet to subnet. According to the proposal, the current system of launching subnets on-chain limits developers. With a minimum 2,000 AVAX stake needed by subnet validators, the financial barrier filters devs with little to no funding, driving innovation downward. Thus, ACP-77 proposes to remove the financial barrier along with the required mainnet validation for subnet validators. This means developers won\u2019t be hampered by a huge upfront financial commitment along with the technically difficult task of validating the mainnet. This means more time on the drawing board, effectively encouraging developers to have a more finished product upon the launch of their subnet. It will also help with enhancing the decentralization of the platform. Upon approval of the proposal, subnets will be granted more autonomy in terms of certain settings that they would like to be implemented. In exchange for the removal of the mainnet validation, subnet validators will instead validate the P-chain (platform chain). This will ease resource use, making resource allocation more efficient. The proposal will have an overall positive impact on the platform. Lowering costs and resource requirements for developers will help bring in new devs to build on Avalanche, enhancing the platform for users. Related Reading: Optimism Drops 12%: Should Investors Still Be Optimistic? These Metrics Say Yes AVAX Downtrend Although the token has been riding the slide downward since the start of the year, AVAX bulls seemed to have found the perfect support for a possible breakthrough. The bulls seemed to have settled around the $26~$29 range. This support and ceiling boasts strengths for both the bulls and the bears alike. However, the bulls have a major advantage on this position. Although the market has corrected itself to a more sustainable level, major cryptocurrencies like Bitcoin and Ethereum are in the position to burst upward pulling the market along with them. AVAX, with its high correlation with Ethereum, will follow the general market trend once bearishness settles down. However, macro-economic factors will affect the major tokens which will either help or stifle value growth within the market. AVAX bulls should then wait and further consolidate their current position. Once the opportunity presents itself, the token has the potential to reach $34 in the medium to long term. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":632320,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[92828,142,9885,83347,1558],"class_list":["post-632237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-acp-77","tag-altcoins","tag-avalanche","tag-avax","tag-cryptocurrency"],"acf":[],"yoast_head":"\nAVAX Continues Freefall, Sheds 12% In Last 7 Days<\/title>\n<meta name=\"description\" content=\"Avalanche (AVAX) is currently on a downward trend, one that it has not broken since last month. 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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. 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 \u2013 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\u2019 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. 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