Avalanche (AVAX) seems poised to gain momentum alongside the rising price of ETH towards $6,000. The network has been making significant moves, including the tokenization of major funds like the $300 million from SkyBridge Capital. It has also partnered with Visa for stablecoin payments and is working with Filecoin on creating secure data bridges. Institutional interest is also strong, with BlackRock investing hundreds of millions in Avalanche-related projects.
In addition to that, Avalanche's subnet technology and its growing use in tokenized markets demonstrate its potential to scale into real-world assets like real estate and hedge funds.
With a current price of approximately $23, More Crypto Online, a cryptocurrency technical analyst, predicts a potential bounce towards $28-$33. Their price prediction for Avalanche points to an additional $100 in the long term. However, they note that this would be highly speculative.
With these developments generating confidence and adoption, Avalanche could be one of the altcoins that benefits the most in the upcoming altcoin season.
