Avalanche (AVAX) Smart Contract That Breaks World Records! - Kakiforex.com - Financial Market Media No. 1 in the World Avalanche (AVAX) Smart Contract That Breaks World Records! Avalanche (AVAX) Smart Contract That Breaks World Records!
InstaForex

June 22, 2021

Avalanche (AVAX) Smart Contract That Breaks World Records!

 Avalanche serves as an open-source to launch decentralized applications (DeFi), financial assets, commerce and other services.


Avalanche aims to be a global asset exchange, allowing anyone to launch and trade any form of asset and control it in a decentralized way using smart contracts and other cutting-edge technologies.


Mainnet Avalanche was launched in September 2020 by three co -founders Emin Gun Sirer, Kevin Sekniqi and Maofan “Ted” Yin.


Interestingly, Avalanche is the first smart contract platform to validate transactions in a matter of seconds, supports the entire development of the Ethereum toolkit and allows millions of independent validators to participate as full block producers. The testnet has more than 1,000 block-producing nodes and breaks world records.


Meanwhile, examine the current movement chart of the AVAX/USDT price.


Since the opening of the market starting January 2021, Avax exhibited excellent gains producing almost 1,900% increase in 2 months thus making the all -time high (ATH) at the price level of $ 59.94 on February 10, 2021.



The increase came after the Avalanche-Ethereum merger that allowed DeFi users to profit with similar assets in both ecosystems last February and has attracted the attention of investors.


From a technical point of view, the price movement is currently witnessing a bearish trend and has broken the support zone around $ 14.


According to crypto analysts' forecasts, the move is very risky if Avax breaks the lows around $ 12, a lower decline is expected to occur and will lead to the all -time low (ATL) ever recorded before.


However, if the price movement returns to show a bullish pattern, the support level around $ 15 needs to be broken first before continuing higher and heading to the SBR (support become resistance) zone around $ 22.50.


At the time of writing, Avax is trading at $ 12 with a market value of over 2.1 billion in the last 24 hours. The coin is currently ranked 47th on the crypto chart.