AVAX Price Breaks Macro-Downtrend: Avalanche Airdrop Season Approaching Fast
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The crypto space is hovering within a narrow range as the major crypto has been chopping around a pre-determined range. Besides, one of the altcoins has been manifesting extreme strength by soaring nearly 100% in the past month. Avalanche is about to offer an opportunity to capitalise on the growth of its network, which is expected to be massive
Over the past couple of months, the crypto space has witnessed the resurgence of Solana’s ecosystem. With a shift in the narrative, more users began to anticipate more airdrops from the prominent protocols. It is worth noting that the airdrops over the Solana network helped accelerate the SOL price to new yearly highs. The hype surrounding projects that have yet to launch a token has reached Avalanche.
Here are the potential airdrop projects that you need to keep an eye on:
Trader Joe’s (JOE), the largest DEX on Avalanche, announced the expansion of their franchise into the Mantle ecosystem. The JOE holders will be eligible for 2.5% of the total MOE supply on TGE, & a further 5% to be distributed over the next 12 months.
Hubble Exchange has built an AVAX native perps DEX, offers to pay gas fees in USDC, and supports AVAX, ETH & SOL markets, but has not yet listed a token
Struct Finance has been leveraging GMX and Trader Joe’s liquidity to generate substantial yield returns across their diverse vaults. They offer optimised yields on $BTC.b, $WETH, $USDC, & $EURC, but has no native token
Hyperspace AVAX is a marketplace which is on season 2 of their AVAX airdrop, with a similar approach utilised with the BLUR incentive program
Avvy allows users, projects, and games to mint and own their domains, where they can trade and sell them.
How Will This Impact the AVAX Price?
The Avalanche price has been experiencing a massive influx of volume in recent times, which has intensified the buying pressure. With this, the token has successfully retested its macro-downtrend as a new support.
The token is up by nearly 27% since the retest, holding the lower support firmly at $38.56. The Bulls are experiencing some hindrance in surpassing the FIB levels at 1. However, the volume remains in the bullish favor, and the positive sentiments over the ecosystem due to the anticipated airdrops may keep up the momentum. With this, the AVAX price is expected to reach crucial levels at $100 at the earliest.
Filed under: Bitcoin - @ December 17, 2023 6:17 am