{"id":514678,"date":"2023-01-04T04:10:12","date_gmt":"2023-01-04T09:10:12","guid":{"rendered":"https:\/\/wncen.com\/?p=514678"},"modified":"2023-03-08T07:25:46","modified_gmt":"2023-03-08T07:25:46","slug":"avalanche-recovery-for-the-ecosystem","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/avalanche-recovery-for-the-ecosystem\/","title":{"rendered":"Avalanche: Will 2023 Bring A Fruitful Recovery For The AVAX Ecosystem?\u00a0"},"content":{"rendered":"

The 2022 crypto bear market left a deep mark on the Avalanche ecosystem. AVAX, the native token of Avalanche, <\/span>dropped<\/span><\/a> by a whopping 89.5%, leaving many investors scratching their heads.<\/span><\/p>\n

However, the token has seen some rebound. According to <\/span>CoinMarketCap<\/span><\/a>, AVAX is up 3.78% in the past 24 hours and trading at $11.53. This pump in price is due to certain bullish factors that will play a role in Avalanche\u2019s 2023 recovery.\u00a0<\/span><\/p>\n

Related Reading: Ol\u2019 Reliable Litecoin Up By 7% As LTC Flexes Muscles For 2023<\/a><\/div>\n

Developments On-chain Increasing<\/strong><\/h2>\n

Although the past year has been very bearish in terms of the crypto market\u2019s pricing, developments on-chain are going strong. On December 30, Avalanche <\/span>pushed<\/span><\/a> its <\/span>Incentives Program<\/span><\/a> to promote dApp development on the Avalanche ecosystem.\u00a0<\/span><\/p>\n

December also saw the <\/span>integration<\/span><\/a> of <\/span>Coinbase\u2019s USDC<\/span> which will certainly bring more people into Avalanche and the crypto economy as a whole.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

Avaxholic, a popular Twitter account dedicated to updates about the ecosystem, recently <\/span>tweeted<\/span><\/a> about the current state of developments on-chain. Re, a blockchain enabled reinsurer, launched on Avalanche.\u00a0<\/span><\/p>\n

Re aims at tokenizing the reinsurance market, making blockchain technology accessible to institutions that dabble in the reinsurance market. This puts Avalanche on the forefront of this connection with traditional finance. As of writing, the reinsurance market is <\/span>projected<\/span><\/a> to reach $1.3 trillion by 2031.\u00a0<\/span><\/p>\n

\"Avalanche\"<\/p>\n

Image: The Daily Hodl<\/pre>\n
Partnerships with <\/span>HoldStation<\/span><\/a>, a SocialFi wallet provider, and <\/span>Odos Protocol<\/span><\/a>, who launched a DEX aggregator on Avalanche, also played a big part on AVAX\u2019s current trajectory.\u00a0<\/span><\/p>\n
Can AVAX Break Through This Level?\u00a0<\/strong><\/h2>\n
Surprisingly, AVAX is less correlated with Ethereum compared to Bitcoin. This can present a few challenges as the token is testing the $11.66 price resistance level.\u00a0<\/span><\/p>\n
The king crypto received a beating last year with BTC continuing its sideways price movement after <\/span>FTX collapsed<\/span><\/a>. This price movement can be broken as January is <\/span>chock full<\/span><\/a> of macroeconomic indicators that would directly influence the broader financial market, especially AVAX.\u00a0<\/span><\/p>\n
Related Reading: Internet Computer (ICP) Sheds 5% In Last 24 Hours As Bulls Lose Aggressiveness<\/a><\/div>\n
AVAX total market cap at $3.6 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
With BTC being slightly correlated with the S&P 500 and the Dow Jones Index, a worsening macroeconomic trend will affect the king crypto, dragging AVAX along with it. <\/span><\/p>\n
This week will be crucial for AVAX as the <\/span>Federal Open Market Meeting Minutes<\/span><\/a> and the <\/span>US Nonfarm Payrolls<\/span> will be released.\u00a0<\/span><\/p>\n
These would give insight into what the US Federal Reserve’s next step would be regarding the inflation situation. If the Fed ever decides to raise interest rates once again, AVAX might lose its current footing.\u00a0<\/span><\/p>\n
As of writing, however, the token has already breached the $11.66 resistance level. Investors and traders should now target the $12.10 resistance. Bulls should still exercise caution as the market will inevitably react to macro trends.<\/span><\/p>\n
-Featured image Dara Rehab<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The 2022 crypto bear market left a deep mark on the Avalanche ecosystem. AVAX, the native token of Avalanche, dropped by a whopping 89.5%, leaving many investors scratching their heads. However, the token has seen some rebound. According to CoinMarketCap, AVAX is up 3.78% in the past 24 hours and trading at $11.53. This pump in price is due to certain bullish factors that will play a role in Avalanche\u2019s 2023 recovery.\u00a0 Related Reading: Ol\u2019 Reliable Litecoin Up By 7% As LTC Flexes Muscles For 2023 Developments On-chain Increasing Although the past year has been very bearish in terms of the crypto market\u2019s pricing, developments on-chain are going strong. On December 30, Avalanche pushed its Incentives Program to promote dApp development on the Avalanche ecosystem.\u00a0 December also saw the integration of Coinbase\u2019s USDC which will certainly bring more people into Avalanche and the crypto economy as a whole.\u00a0 Avaxholic, a popular Twitter account dedicated to updates about the ecosystem, recently tweeted about the current state of developments on-chain. Re, a blockchain enabled reinsurer, launched on Avalanche.\u00a0 Re aims at tokenizing the reinsurance market, making blockchain technology accessible to institutions that dabble in the reinsurance market. This puts Avalanche on the forefront of this connection with traditional finance. As of writing, the reinsurance market is projected to reach $1.3 trillion by 2031.\u00a0 Image: The Daily Hodl Partnerships with HoldStation, a SocialFi wallet provider, and Odos Protocol, who launched a DEX aggregator on Avalanche, also played a big part on AVAX\u2019s current trajectory.\u00a0 Can AVAX Break Through This Level?\u00a0 Surprisingly, AVAX is less correlated with Ethereum compared to Bitcoin. This can present a few challenges as the token is testing the $11.66 price resistance level.\u00a0 The king crypto received a beating last year with BTC continuing its sideways price movement after FTX collapsed. This price movement can be broken as January is chock full of macroeconomic indicators that would directly influence the broader financial market, especially AVAX.\u00a0 Related Reading: Internet Computer (ICP) Sheds 5% In Last 24 Hours As Bulls Lose Aggressiveness AVAX total market cap at $3.6 billion on the daily chart | Chart: TradingView.com With BTC being slightly correlated with the S&P 500 and the Dow Jones Index, a worsening macroeconomic trend will affect the king crypto, dragging AVAX along with it. This week will be crucial for AVAX as the Federal Open Market Meeting Minutes and the US Nonfarm Payrolls will be released.\u00a0 These would give insight into what the US Federal Reserve’s next step would be regarding the inflation situation. If the Fed ever decides to raise interest rates once again, AVAX might lose its current footing.\u00a0 As of writing, however, the token has already breached the $11.66 resistance level. Investors and traders should now target the $12.10 resistance. Bulls should still exercise caution as the market will inevitably react to macro trends. -Featured image Dara Rehab<\/p>\n","protected":false},"author":557,"featured_media":514697,"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":[134,9885,83347,14690,3505],"class_list":["post-514678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-avalanche","tag-avax","tag-crypto-news","tag-price-analysis"],"acf":[],"yoast_head":"\nAvalanche: Will 2023 Bring A Fruitful Recovery For The AVAX Ecosystem?\u00a0<\/title>\n<meta name=\"description\" content=\"The 2022 crypto bear market left a deep mark on the Avalanche ecosystem. 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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: Will 2023 Bring A Fruitful Recovery For The AVAX Ecosystem?\u00a0","url":"http:\/\/wncen.com\/news\/avalanche-recovery-for-the-ecosystem\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/avalanche-recovery-for-the-ecosystem\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Avalanche.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Avalanche.png?fit=653%2C448"},"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":["altcoin","avalanche","avax","crypto news","price analysis"],"dateCreated":"2023-01-04T09:10:12Z","datePublished":"2023-01-04T09:10:12Z","dateModified":"2023-03-08T07:25:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Avalanche: Will 2023 Bring A Fruitful Recovery For The AVAX Ecosystem?\\u00a0\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/avalanche-recovery-for-the-ecosystem\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/avalanche-recovery-for-the-ecosystem\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Avalanche.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Avalanche.png?fit=653%2C448\"},\"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\":[\"altcoin\",\"avalanche\",\"avax\",\"crypto news\",\"price analysis\"],\"dateCreated\":\"2023-01-04T09:10:12Z\",\"datePublished\":\"2023-01-04T09:10:12Z\",\"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\/2023\/01\/Avalanche.png?fit=653%2C448","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/514678"}],"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=514678"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/514678\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/514697"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=514678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=514678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=514678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}