Within the decentralized finance (DeFi) space, Avalanche (AVAX) has seen an impressive 132% price increase despite market shifts.

Avalanche Rising in Popularity

Avalanche has been gaining attention in the crypto community recently as DeFi traders are increasingly drawn to its platform.

The high throughput and scalability of Avalanche’s platform have attracted developers and users, leading to record monthly active users (MAU) on the network. The Avalanche Foundation is responsible for overseeing the network.

In December, the Avalanche Foundation announced plans to acquire a selection of meme coins through its “Culture Catalyst” initiative.

Via Twitter, the non-profit organization expressed its intention to build a collection of selected Avalanche-based meme coins, aiming to diversify its portfolio and explore a broader range of possibilities.

The foundation set criteria for selecting meme coins, considering factors such as the number of holders, liquidity thresholds, project maturity, fair launch principles adherence, and overall social sentiment.

The Avalanche Foundation views meme coins as more than just utility assets; they represent the collective spirit and shared interests of diverse crypto communities.

Avalanche Price Trends

Currently valued at $36.36, Avalanche has shown a 4.32% increase in the past week, according to CoinGecko. With a circulating supply of 370 million AVAX, the market cap has surpassed $13 billion. The support level is $31, with $48 acting as a resistance level. The Relative Strength Index (RSI) value of 61 on the weekly timeframe indicates a balanced market sentiment.

Bitget Wallet Integration

Bitget Wallet, a leading Web3 trading wallet, has recently added support for tokens on the Avalanche chain through Bitget Swap.

Users can now access real-time candlestick chart data and detailed on-chain transaction information seamlessly on both mobile and browser extension wallets. Bitget Wallet aggregates over 10 top trading protocols on Avalanche, including Trader Joe, SushiSwap V2, and 1inch.

The wallet also supports same-chain and cross-chain transactions for Avalanche mainnet tokens through cross-chain bridges and integration with protocols like Swft and Bungee. Innovative features like gas-free transactions and automatic slippage adjustment provide users with a fast, convenient, and cost-effective on-chain trading experience.

For more insights on top cryptocurrencies to watch this week, stay tuned to Global Crypto News.

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