The much anticipated Altseason is around the corner and leading altcoins are gaining massive attention from investors. Avalanche (AVAX) is one of those crypto assets that could surge to new highs, breaking all previous records, as per experts. Compared to other cryptocurrencies, AVAX is still fairly a new blockchain and has the potential to unlock a new growth window in the upcoming months.
Avalanche was launched in 2020 and it instantly became one of the most popular layer 1 blockchain networks during the last crypto cycle. Alongside Solana and Polygon, Avalanche gained traction in the blockchain landscape due to its unique architecture. It emerged as a fast, cost-efficient, and scalable solution that the then-blockchain industry needed when scalability issues arose on Ethereum.
Within months of it going live, Avalanche’s native currency AVAX spiked explosively and reached 10x from its launching price mark of ~$4.6 in September 2020. Later AVAX price marked its all-time high at $128.78 on 22 November 2021 – according to Coinmarketcap data.
Although Avalanche joined the race at the very beginning of the past crypto cycle, it successfully placed itself in the competition among leading blockchains. However, the gains in AVAX price seem to have been suppressed compared to other blockchains that emerged in the same timeframe. For instance, the all-time gain for AVAX price is currently 647% whereas the same for SOL price is 16,264%, and for MATIC price it is 14,900% – as per market data.
The upcoming months after Bitcoin halving will be very crucial for AVAX which will decide if Avalanche will outperform its peers or if it gets labeled as a “Dead Chain” that lasted only one cycle. It is also put forward by several analysts as a top crypto asset to look for the next bullrun.
Could AVAX Price Break $150?
AVAX is currently trading near $35, which is far away from its previous highs. It is expected to accelerate recovery and march toward new highs alongside all other crypto assets after Bitcoin halving. The current all-time high of AVAX is $128.78 and the new high is anticipated above $150 in the next cycle. This price target of $150 is the least compared to the potential excessive gains the cryptocurrency market is to attain in this bullrun.
Also read: Will Polygon (MATIC) Reach $3 Post Bitcoin Halving?
FAQs
How high AVAX could go in 2024?
AVAX price could go as high as $150 in 2024 or 2025.
Does Bitcoin halving have any impact on Avalanche (AVAX)?
No, Bitcoin halving does not directly have any impact on Avalanche (AVAX). It is expected the AVAX price will rise while coinciding with the market uptrend followed by Bitcoin halving.
