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AVAX explodes and reaches new all-time high

While Bitcoin is stagnating at $ 45,000, Avalanche (AVAX) is exploding, making a 30% profit. AVAX has thus reached a new all-time high, which of course pleases investors. Almost all altcoins with a larger market capitalization have had to give up in the last few days. AVAX, on the other hand, was able to grow significantly. But other smaller coins have also climbed to the top.

AVAX shot up 30%

Most of the altcoins had a downright crash, but were able to recover a little. Bitcoin fell to $ 44,000, rose again to $ 2,000, and the situation has currently calmed down at around $ 45,000. Ethereum also dropped massively and is currently at just under 3,200 US dollars. It looked very promising at the beginning of last week. Nevertheless, prices have calmed down somewhat and investors are more relaxed again.

But some other coins have made considerable gains. Something like AVAX, which shot up by more than 30%. This enormous increase enabled Avalanche to secure a new all-time high. Cardano, whose network will go through the long-awaited hard fork today, was able to grow significantly. With an increase of around 12%, investors are waiting for the hard fork. At the same time, Binance Coin, Ripple and Uniswap have gained around 1%. Dogecoin was only able to record 0.5%, but all coins are in the green.

Luna and Polkadot in particular recorded impressive increases. While Luna went up 8%, Polkadot went up 9%. AVAX, on the other hand, was the best performer with an increase of 32%. With this increase, the US $ 64 mark was exceeded, which is a new all-time high.

Furthermore, OMG Network with 11%, Hedera Hashgraph and Elrond with 10% and Kusama with 8% recorded significant increases. Thus, the crypto market capitalization has also increased by around 50 billion US dollars in one day.

Bitcoin is stagnating at $ 45,000

The crash on Tuesday sent almost all cryptocurrencies into the basement. Bitcoin lost over $ 10,000 in just a few hours. Nevertheless, the price of BTC has remained atypically stable. Still, after falling from $ 53,000 to $ 43,000, BTC attempted to break past the $ 47,000 price in the next two days.

Unfortunately without success so far. In the past 24 hours, BTC fell again, priced at $ 44,000. Despite a good response, it returned to modest gains but failed at the $ 46,000 mark. Currently, the Bitcoin price is around 45,000 US dollars and the market capitalization is 850 billion US dollars. However, the dominance over the altcoins has decreased to 41%.

Despite the fact that the crash brought some coins to their knees, AVAX and others were able to prevail and record considerable profits. It remains to be seen what will happen in the next few days and how investors will react. So far they are still relatively relaxed, which of course can change very quickly.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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