Lately, Avalanche investors have been looking to invest more in AVAX. This is due to the token launching a further dip by about 8%, dropping to about $117. At writing, the coin was trading at a further dip, settling at $110.30.
The dip in the crypto market in general in the recent past is attributed to India’s move to ban crypto in its main market. The government of India is preparing a bill that will be forced to stop crypto trading in its major trading markets.
Recently, Jack Dorsey and Jay-Z funded a Bitcoin trust fund for Bitcoin advancement. Both individuals funded about 500 BTC as they encouraged India to welcome the idea of cryptocurrency to improve its economy.
Avalanche Partners With Deloitte
Avalanche is currently ranking at #11th making it one of the most valuable crypto tokens in the world, according to Coingecko. The coin hit a new all-time high sometime back after it went into partnership with Deloitte consulting firm. The announcement came in from the AVAX founder Emin Gun.
The partnership will help build disaster relief software on the Avalanche blockchain. The blockchain will help improve the security, speed and accuracy of the platform. After this latest sign, the token has begun surging strongly. The AVAX is now up by about 17% in the past seven.
Deloitte is a big fan of AVAX, seeking out its partnership to support the Federal Emergency Agency(FEMA). Deloitte is looking to find a way to sum up, and certify FEMA’s claims. Many investors say that this partnership will help the token surge higher soon, pointing out that AVAX is an excellent investment to venture into at this point in its dip.
Avalanche’s profile in the crypto industry is going to rise steadily because of this partnership. The deal is already bringing a lot of excitement around AVAX currently. The government also hopes to benefit from a secure and low-cost platform that will reduce fraud. For those looking to invest in crypto, this will be just about the time to do so.
However, you have to be patient and probably Hodl for some time. In the long run, the dip will be worth buying. Make sure that you also do your research on the crypto to enable you to make the right decision as an investor.
AVAX Brings Competition to Ethereum
AVAX is now one of the competitors to Ethereum. Just like Ethereum, AVAX provides a blockchain that can build DeFi applications. AVAX users can now spend the token to facilitate services and transactions. Deloitte’s option to build its projects on Avalanche is the beginning of Avalanche pursuing a lead before Ethereum.
Suppose many more projects build on the AVAX chain. That should make the price of AVAX surge past Ethereum. Currently, the market cap of Avalanche sits at $25.2 billion
Avalanche Price Prediction
Looking at the current activity going on around the crypto industry and especially AVAX. Analysts see the price of Avalanche surging to around $200 in 2022. The predictions are pretty positive based on the fact that DeFi applications are welcome to build on the AVAX chain.