On May 21, 2024, the Avalanche (AVAX) coin saw a 12% jump, hitting $41.02, according to CoinMarketCap. This uptick came after Avalanche announced the successful tokenization of the Wine Capital Fund by Oasis Pro, now listed on ATS via the Avalanche C-Chain.
While the current price is far from its peak of $146.22 in 2021, it still marks a significant achievement. In March 2024, AVAX surged by 34% within a week. As of May 21, 2024, AVAX held the 11th spot among top cryptocurrencies, with a market cap exceeding $15.56 billion. What’s next for Avalanche? Will the cryptocurrency keep rising or rebound fast? What factors affect its price, and what is the AVAX prediction for the short and long term? Let’s explore these questions.
What is Avalanche (AVAX)?
Avalanche is a crypto venture spearheaded by software engineer Emin Gun Sirer, alongside Kevin Sekniqi and Maofan “Ted” Yin. Launched in the autumn of 2020, Avalanche operates as a Layer-1 blockchain, boasting smart contract capabilities. Its debut marked it as a contender against Ethereum, positioning itself to rival the established network.
AVAX is Avalanche’s native token. It is used for paying fees and staking and serves as the main currency within the network.
Main drivers of AVAX growth
What drives AVAX’s price? Here are a few factors contributing to the altcoin’s rise.
- Heightened engagement from prominent AVAX holders. Based on insights from the analytics platform IntoTheBlock, the daily trading volume of substantial transactions on the blockchain surpassed $670.35 million over the past week.
- Using Avalanche blockchain for GameFi projects to merge online gaming with decentralized finance (DeFi).
- The recent surge in the cryptocurrency market and the rise of major coins like BTC and ETH. On May 21, 2024, the cryptocurrency market capitalization hit $2.62 trillion.
What will the Avalanche crypto price prediction be for the near future and beyond?
Avalanche price analysis
What’s on the horizon for AVAX in the near term?
AVAX coin price prediction: short-term outlook
AVAX forecast suggests it’s expected to rise to $47.49 in May 2024, with a projected minimum of $36.34 and a maximum of $58.64, according to Changelly.
Coincodex also predicts short-term growth, with AVAX expected to reach $46.44 by May 25.
Conversely, Wallet Investor offers a less optimistic short-term outlook, suggesting a maximum potential price of $36.8 for AVAX by the end of May.
But what lies ahead for AVAX in the long term? What is the AVAX coin future and 5-year price?
Avalanche price prediction 2024
According to Changelly, in 2024, the technical analysis suggests that the maximum level of Avalanche price will be $100.22.
AVAX price prediction 2025
Based on previous years’ price trends, it’s assumed that in 2025, the minimum price of Avalanche will be around $68.16, while the maximum expected price could reach $81.91.
Avalanche price prediction 2030
Cryptocurrency experts expect the AVAX token to trade between $478.7 and $567.06 in 2030.
Coincodex perspective
Coincodex forecasts suggest that by 2025, AVAX could see a price range from $35.81 to $166.94, with potential fluctuations. Looking further ahead to 2030, predictions indicate a range between $87.8 and $142.36, hinting at substantial gains if AVAX reaches the upper echelon of these estimates.
Wallet Investor insights
Wallet Investor predicts that by the end of 2024, AVAX’s maximum price is expected to reach only $81.76. However, it’s anticipated to increase to $117.6 by the end of 2025.
FAQs
Is Avalanche a good investment?
Avalanche (AVAX) shows promising potential as an investment. With its innovative decentralized finance (DeFi) approach, AVAX presents growth opportunities. Moreover, positive Avax future price expectations for both the short and long term make AVAX an attractive option for investors seeking to diversify their portfolios. Before putting your money into anything, consider how much risk you’re okay with and what you want to accomplish financially.That way, you can make choices that fit your investment goals.
Will Avalanche coin go up or down?
The future value of the Avalanche (AVAX) coin relies on several factors, including market trends, technological advancements, and investors’ feelings about it. While there are moments when it seems like the price might rise, the market’s unpredictability means it could also fall. Like any investment, it’s smart to stay updated on what’s happening, know your comfort level with risk, and think carefully before making decisions.
Should I invest in Avalanche?
Investing in Avalanche (AVAX) could be a smart move, but it’s not without its risks. Before diving in, do your homework and consider how much risk you’re comfortable with and what you want to achieve with your investment. It’s also a good idea to talk to a financial advisor who can give you personalized advice based on your situation.
