{"id":514403,"date":"2023-01-02T06:41:38","date_gmt":"2023-01-02T11:41:38","guid":{"rendered":"https:\/\/wncen.com\/?p=514403"},"modified":"2023-03-08T07:25:46","modified_gmt":"2023-03-08T07:25:46","slug":"avalanche-exits-2022-with-10-decline","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/avalanche-exits-2022-with-10-decline\/","title":{"rendered":"Avalanche Exits 2022 With 10% Decline – Will AVAX Recoup That Loss This Week?"},"content":{"rendered":"

Avalanche recorded a number of significant developments, which was encouraging for AVAX since it enhanced the network’s value. Before 2022 came to a close, the network revealed that it had partnered with Dua.com, a SocialFi that had picked Avalanche to develop its “Fi.”<\/p>\n

The Avalanche ecosystem also grew in the run-up to 2023, as its total number of trade counts and amount of NFT trades in US dollars increased. AVAX engineers also announced the release of Banff 5, the final version of its AvalancheGo software, on December 22.<\/p>\n

According to Avalanche, it debuted Avalanche<\/a> Warp Messaging (AWM) with Banff 5, allowing its network-based blockchains to communicate with one another.<\/p>\n

\n

SocialFi https:\/\/t.co\/EQ2K6P3vZv<\/a> Chooses Avalanche To Build Its \u201cFi\u201d<\/p>\n

SocialFi is a trend that has emerged recently when prominent projects appear. @duadotcom<\/a> is a name that cannot be ignored & recently, its homepage officially announced its cooperation with #Avalanche<\/a>.<\/p>\n

Detail\ud83d\udc47 pic.twitter.com\/STB82o1zQp<\/a><\/p>\n

\u2014 Avaxholic \ud83d\udd3a (@avaxholic) December 30, 2022<\/a><\/p><\/blockquote>\n

Avalanche: Meeting Investors’ Expectations<\/strong><\/h2>\n

Although several AVAX statistics appeared promising, market indicators warned that the company’s performance may not meet investors’ expectations.<\/p>\n

AVAX<\/a> was trading at $10.69 with a market value of nearly $3.3 billion at the time of writing, according to CoinMarketCap data. AVAX’s price has declined by more than 10% in the past seven days.<\/p>\n

Moreover, the AVAX Money Flow Index had a decline, which was bearish. AVAX’s on-balance volume has been unchanged since the beginning of the new bear market, showing a lack of major accumulation momentum.<\/p>\n

Related Reading: Is Polkadot (DOT) A Must-Have For Your 2023 Portfolio?<\/a><\/div>\n
\"\"Chart: Santiment<\/pre>\n
The Chaikin Money Flow (CMF) likewise dropped with MFI. The Exponential Moving Average (EMA) Ribbon indicated a bearish market advantage, which could prevent AVAX’s price from climbing.<\/p>\n
AVAX has lost 90% of its value from this year’s peak levels. The cryptocurrency periodically experiences great traction, but it frequently reaches new lows.<\/p>\n
Related Reading:  Decentraland (MANA) Sheds 90% In 2022 Despite Solid NFT Volume Performance<\/a><\/div>\n
\"\"<\/p>\n
Although the price drops may be related to the general cryptocurrency market’s continued difficulties, AVAX has not been able to recover with the market.<\/p>\n
The Avalanche network is a blockchain that enables smart contracts and provides fast and inexpensive transactions. However, AVAX has encountered numerous issues, making it challenging for the cryptocurrency to continue its upward course.<\/p>\n
<\/p>\n
AVAX total market cap at $3.4 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
More Losses In The Offing?<\/strong><\/h2>\n
A DEX on the Avalanche network, known as Defrost Finance, was infiltrated by a hacker last week, potentially causing the network’s reputation to suffer.<\/p>\n
According to data provided by PeckShield Inc, a company that provides crypto security analytics, the attacker was able to cart away\u00a0$12 million.<\/p>\n
These attacks on its DeFi ecosystem may have an impact on the total TVL collected by the network. Over the past month, AVAX TVL decreased from $903.03 million to $787.03 million, according to DefiLlama.<\/p>\n
Meanwhile, the daily chart indicated that AVAX investors may have to endure additional losses in 2023, delivering little reprieve to its holders as the 2022 trading year draws to a conclusion.<\/p>\n
–<\/p>\n
Featured image from AAX Academy<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Avalanche recorded a number of significant developments, which was encouraging for AVAX since it enhanced the network’s value. Before 2022 came to a close, the network revealed that it had partnered with Dua.com, a SocialFi that had picked Avalanche to develop its “Fi.” The Avalanche ecosystem also grew in the run-up to 2023, as its total number of trade counts and amount of NFT trades in US dollars increased. AVAX engineers also announced the release of Banff 5, the final version of its AvalancheGo software, on December 22. According to Avalanche, it debuted Avalanche Warp Messaging (AWM) with Banff 5, allowing its network-based blockchains to communicate with one another. SocialFi https:\/\/t.co\/EQ2K6P3vZv Chooses Avalanche To Build Its \u201cFi\u201d SocialFi is a trend that has emerged recently when prominent projects appear. @duadotcom is a name that cannot be ignored & recently, its homepage officially announced its cooperation with #Avalanche. Detail\ud83d\udc47 pic.twitter.com\/STB82o1zQp \u2014 Avaxholic \ud83d\udd3a (@avaxholic) December 30, 2022 Avalanche: Meeting Investors’ Expectations Although several AVAX statistics appeared promising, market indicators warned that the company’s performance may not meet investors’ expectations. AVAX was trading at $10.69 with a market value of nearly $3.3 billion at the time of writing, according to CoinMarketCap data. AVAX’s price has declined by more than 10% in the past seven days. Moreover, the AVAX Money Flow Index had a decline, which was bearish. AVAX’s on-balance volume has been unchanged since the beginning of the new bear market, showing a lack of major accumulation momentum. Related Reading: Is Polkadot (DOT) A Must-Have For Your 2023 Portfolio? Chart: Santiment The Chaikin Money Flow (CMF) likewise dropped with MFI. The Exponential Moving Average (EMA) Ribbon indicated a bearish market advantage, which could prevent AVAX’s price from climbing. AVAX has lost 90% of its value from this year’s peak levels. The cryptocurrency periodically experiences great traction, but it frequently reaches new lows. Related Reading: Decentraland (MANA) Sheds 90% In 2022 Despite Solid NFT Volume Performance Although the price drops may be related to the general cryptocurrency market’s continued difficulties, AVAX has not been able to recover with the market. The Avalanche network is a blockchain that enables smart contracts and provides fast and inexpensive transactions. However, AVAX has encountered numerous issues, making it challenging for the cryptocurrency to continue its upward course. AVAX total market cap at $3.4 billion on the daily chart | Chart: TradingView.com More Losses In The Offing? A DEX on the Avalanche network, known as Defrost Finance, was infiltrated by a hacker last week, potentially causing the network’s reputation to suffer. According to data provided by PeckShield Inc, a company that provides crypto security analytics, the attacker was able to cart away\u00a0$12 million. These attacks on its DeFi ecosystem may have an impact on the total TVL collected by the network. Over the past month, AVAX TVL decreased from $903.03 million to $787.03 million, according to DefiLlama. Meanwhile, the daily chart indicated that AVAX investors may have to endure additional losses in 2023, delivering little reprieve to its holders as the 2022 trading year draws to a conclusion. – Featured image from AAX Academy<\/p>\n","protected":false},"author":557,"featured_media":497687,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[9885,83347,5687,6664],"class_list":["post-514403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-avalanche","tag-avax","tag-bear-market","tag-crypto"],"acf":[],"yoast_head":"\nAvalanche Exits 2022 With 10% Decline - Will AVAX Recoup That Loss This Week?<\/title>\n<meta name=\"description\" content=\"Avalanche recorded a number of significant developments, which was encouraging for AVAX since it enhanced the network's value. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Avalanche Exits 2022 With 10% Decline – Will AVAX Recoup That Loss This Week?","url":"http:\/\/wncen.com\/news\/avalanche-exits-2022-with-10-decline\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/avalanche-exits-2022-with-10-decline\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Avalanche-1.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Avalanche-1.png?fit=769%2C429"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["avalanche","avax","bear market","crypto"],"dateCreated":"2023-01-02T11:41:38Z","datePublished":"2023-01-02T11:41:38Z","dateModified":"2023-03-08T07:25:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Avalanche Exits 2022 With 10% Decline – Will AVAX Recoup That Loss This Week?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/avalanche-exits-2022-with-10-decline\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/avalanche-exits-2022-with-10-decline\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Avalanche-1.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Avalanche-1.png?fit=769%2C429\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"avalanche\",\"avax\",\"bear market\",\"crypto\"],\"dateCreated\":\"2023-01-02T11:41:38Z\",\"datePublished\":\"2023-01-02T11:41:38Z\",\"dateModified\":\"2023-03-08T07:25:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Avalanche-1.png?fit=769%2C429","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/514403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=514403"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/514403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/497687"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=514403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=514403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=514403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}