Breaking News
Get 40% Off 0
🔎 See NVDA full ProTips for an instant risks or rewards Claim 40% OFF

AVAX leads Layer 1 tokens with a 130% monthly surge

Published Nov 21, 2023 02:36
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
AVAXUSD
-4.33%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NEAR/USD
+8.75%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SOL/USD
+0.28%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

The Avalanche network has witnessed a significant surge in activity and value, with its native token, AVAX, leading the Layer 1 blockchain tokens with an impressive 130% increase over the past month. CoinGecko data highlights this remarkable growth, which has also seen other prominent tokens such as Solana and Near protocol enjoy gains surpassing 100%.

This surge in value coincides with a peak in network activity for Avalanche, reaching a record of 1.68 million transactions in a single day. The increased interest and usage of Avalanche's platform may be attributed to its recent partnership with JPMorgan. Last week, the banking giant collaborated with Avalanche to explore blockchain interoperability for Project Guardian in Singapore. The partnership has brought attention to Avalanche's attributes, including high transaction throughput and cost-efficiency, as noted by Sei Labs co-founder Jeff Feng.

While AVAX has shown remarkable performance, caution that the token might be overbought, referencing its Relative Strength Index (RSI) readings. Despite this, the broader altcoin market is trending upwards, with Ethereum maintaining its status as the top choice among institutional investors due to its well-established ecosystem and pioneering role in the space.

The collective momentum of Layer 1 blockchain tokens, including AVAX, reflects a growing interest and confidence in the potential of these platforms to offer scalable and efficient alternatives within the cryptocurrency market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

AVAX leads Layer 1 tokens with a 130% monthly surge
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email