🚀 AVAX Momentum Builds: Backed by FIFA & VanEck, $30 Target in Sight

Avalanche trades at $25.74 on Friday, with bulls targeting $30 psychological barrier.

FIFA partnered with AVAX to construct a Layer-1 blockchain on Avalanche.

VanEck will create a fund to invest in Avalanche ecosystem use cases.

Avalanche (AVAX) extended gains on Friday to $25.74 as market confidence rose after two important events. Football's global governing body, FIFA, aims to develop a Layer-1 blockchain on the Avalanche network. VanEck is prepared to create a fund focused on real-world Avalanche applications. These clever moves boost AVAX, with bulls targeting $30.

FIFA, football's global governing body, said Thursday that it would create an L1 blockchain on the Avalanche network. This announcement follows AVAX's recent Avalanche 9000 update, which intends to attract new developers and promote customized L1s. This news lifted the Avalanche price 9% that day.

Leading asset manager VanEck announced the introduction of the VanEck PurposeBuilt Fund this week. This private digital assets fund will invest in Avalanche-based companies and tokens with long-term value and usefulness. The fund will begin in June 2025 for approved buyers only.

‘Avalanche attracts smart builders... We invest and believe in entrepreneurs delivering enduring value.” Pranav Kanade, Portfolio Manager.

Avalanche network and pricing will benefit from these announcements and advances as they raise visibility, confirm technology, and promote ecosystem expansion via adoption and developer engagement.

On Monday, avalanche price retested its weekly level of $20.99 and climbed 13.53% till Thursday. This support zone is around the 50-day Exponential Moving Average at $22.21. On Friday, it approached its 200-day EMA at $25.83.

AVAX may retest $30 if it maintains its daily closing above $25.83. A closure above this level might extend advances to $33.60.

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