Avalanche price prediction 2024-2030: Is the price recovery underway?
August wasn’t the strongest month for the AVAX token, but it looks like things are gradually starting to turn around.
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On Aug. 5, the native token of layer-1 blockchain Avalanche fell to a nine-month low of $17.29 but has been gradually recovering since then. As of Aug. 23, Avalanche (AVAX) was trading around $26.35, marking an increase of 26% over the past week. It holds the 14th position among cryptocurrencies, with a market cap exceeding $10.68 billion, according to crypto.news.
What’s next for Avalanche? What factors affect its price, and what is the AVAX prediction for the short and long term?
What is Avalanche
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 (ETH), positioning itself to rival the established network.
AVAX is Avalanche’s native token. It is used to pay fees, for 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 rise of altcoin.
- 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 $616.6 million over the past week.
- Using Avalanche blockchain for GameFi projects to merge online gaming with decentralized finance.
- Surges in the cryptocurrency market, along with the rise of major crypto assets like Bitcoin (BTC) and ETH.
Avalanche crypto news
The recent rise in AVAX’s price might be linked to some optimistic news. After 2024, the pace at which tokens are unlocked is set to slow down significantly. Many investors see this as a good sign, as they believe that frequent unlocks can hold back the ecosystem’s long-term growth.
Also on Aug. 22, Grayscale Investments, a leading digital asset management firm, announced the launch of a new crypto fund based on Avalanche.
Earlier, in May 2024, Avalanche unveiled the successful tokenization of the Wine Capital Fund by Oasis Pro, now listed on ATS via the Avalanche C-Chain. This announcement helped drive up the price, pushing AVAX to $41.16. In March 2024, AVAX saw a notable surge of 34% within a week, reaching $65 on March 18. Although this was still well below its all-time high of $146.22 in 2021, it marked significant progress.
Avalanche price prediction
What will the Avalanche price prediction be for the near future and beyond?
AVAX coin price prediction: short-term outlook
Wallet Investor forecasts that AVAX could rise to a maximum of $47.176 in Sept. 2024.
Meanwhile, Coincodex anticipates more significant short-term growth, with AVAX expected to reach $85.11 by Sept. 22.
Conversely, Changelly offers a less optimistic short-term outlook, suggesting a maximum potential price of $37.90 for AVAX by the end of Sept.
But what lies ahead for AVAX in the long term?
Avalanche price prediction 2024-2030
According to Changelly, in 2024, the technical analysis suggests that the Avalanche average trading price will be around $37.9.
Based on previous years’ price trends, it’s expected that in 2025, the minimum price of AVAX will be around $37.46, while the maximum expected price could reach $45.45.
Cryptocurrency experts predict the AVAX token to trade between $245.14 and $292.03 in 2030.
Coincodex’s Avalanche price prediction suggests that by 2025, AVAX could see a price range from $26.12 and $122.48, hinting at substantial gains if AVAX reaches the upper echelon of these estimates. Looking further ahead to 2030, predictions indicate a range between $64.81 and $105.08.
Wallet Investor predicts that by the end of 2024, AVAX’s maximum price is expected to reach $65.402. The token is anticipated to increase to $97.16 by the end of 2025.
FAQs
Is Avalanche a good investment?
AVAX shows promising potential as an investment. With its innovative decentralized finance approach, the token 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.
Will Avalanche coin go up or down?
The future value of the AVAX 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.
