Avalanche’s Price Correction
However, Avalanche has not yet surpassed the $50 mark due to a sharp rejection over the previous weekend, causing a drop to $44.
In a surprising development, investors have staked AVAX tokens worth over 1 billion in the past five days. Concerns about the AVAX token’s market trends have prompted investors to make long-term predictions, with node validations expected to continue playing a significant role.
According to data from a reputable staking data tracker firm, StakingRewards, AVAX deposits for its smart contracts totaled 21.07 million between December 19th and 24th. This brings Avalanche’s total to 268.26 million, surpassing others in a three-month analysis.
Currently, Solana stands at $110.93, marking a 0.48% increase in the last 24 hours. However, its daily trading volume has declined by about 34.81%. There is potential for the price to reach $150 and solidify Solana’s position in the crypto listing by market cap. Over the past 24 hours, its market cap has only risen by 0.82%. While 2024 may witness further growth in SOL price, Avalanche is also gaining momentum and climbing the rankings.
Avalanche’s Recent Performance and Market Data
In the past 24 hours, AVAX has experienced a 35.20% drop in daily trading volume and a 2.24% decrease in market cap. However, it has shown a 124.82% gain in the month-to-date period and a 303.01% yearly yield, according to a prominent Crypto data tracker firm.
While there are expectations of Solana reaching new highs by 2024, Avalanche is also making strides. The cryptocurrency market seems poised for a bullish momentum, which could be promising for investors.