This site uses cookies. Browsing the site, you agree to the use of cookies. If you need more information, please visit the Cookies Policy page
Cryptocurrencies: 8899 / Markets: 59103
Market Cap: $ 1 074 879 329 083 / 24h Vol: $ 65 900 480 943 / BTC Dominance: 42.098042408595%

Н News

Why Avalanche investors should maintain caution despite these new updates 

Avalanche’s [AVAX] NFT ecosystem got good news on 23 January, which could help the network register growth in the field. Nakamoto Games, a metaverse ecosystem, recently announced that NAKAVERSE was poised to go multichain. They began by integrating NFTs with Dogecoin [DOGE] and would soon add other networks, including Avalanche.

The #NAKAVERSE will integrate #NFTs from all major #Web3 #Protocols.

Starting with $DC 🐶and $REEF 🪸, followed by $TRX, $SOL, $AVAX, $BNB, $DOT and $ADA.

This is part of our $NAKA Vision to make Nakamoto Games a central #Web3 Gaming Hub 🔥 #Buildinghttps://t.co/5J722SwYaA

— Nakamoto.Games (@NakamotoGames) January 23, 2023

Read Avalanche’s [AVAX] Price Prediction 2023-24

However, Avalanche’s performance in its NFT space was not up to the mark. Santiment’s chart revealed that AVAX’s total NFT trade counts and total NFT trade volume in USD declined over the last seven days.

Source: Santiment

Apart from the NFT space, Avalanche validators also got a new opportunity. DeepSquare, which is a decentralized cloud computing ecosystem, revealed that it was looking for 10 Avalanche validators to validate DeepSquare’s subnet.

Are you an #Avalanche Validator and would like to validate @DeepSQUAREio's Subnet? This is your moment!

Find all the details on how to join our grid!#AVAX #CloudComputing #Subnethttps://t.co/cRiiRKIRJO

— DeepSquare.io 🔺 (@DeepSQUAREio) January 23, 2023

AVAX has been making its investors smile for quite a few days now by registering promising gains. CoinMarketCap’s data revealed that AVAX’s price increased by 8% in the last seven days, and at press time, it was trading at $18.33 with a market capitalization of over $5.7 billion.

However, AVAX failed to remain popular in the crypto community, as its social dominance decreased over the last few days. Nonetheless, as per LunarCrush, AVAX increased its market dominance. AVAX’s development activity also moved northward, which was a positive signal.

Source: Santiment

Realistic or not, here’s AVAX market cap in BTC’s terms

A few market indicators suggested that the bears were going to take over control of the market. The MACD displayed the possibility of a bearish crossover, which could cause a price drop. AVAX’s Money Flow Index (MFI) was in the overbought zone.

The Chaikin Money Flow (CMF) also registered a downtick, which was a move in the sellers’ favor. AVAX’s On Balance Volume (OBV), however, remained bullish as it went up.

Source: TradingView

Source

  • pro-blockchain.com

    Welcome!

To join the Chat, you need a free pro-blockchain.com account. Enter Registration