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After spending nearly six months in a downtrend, AVAX price looks to be in the early stages of a trend reversal. On Aug. 5, it traded at $17.29, its lowest price in nine months. Over the past two weeks, the altcoin has reversed course with a 45% gain to $25.25. 

While AVAX’s flash crash under $18 was mirrored by most altcoins which also sharply sold off during Bitcoin’s (BTC) Aug. 18 correction to $49,500, AVAX has been a laggard versus the wider market since topping out at $65 on March. 18. 

Positive news could be partially responsible for the recent uptick in the AVAX price. This week, AVAX investors zoomed in on the Avalanche token unlock schedule and noted that a sharp reduction in the number of token unlock events occurs after the end of 2024. Many investors believe that token unlocks generate sell pressure and deter the various types of long-term ecosystem development that support value accretion to the token. 

After 2024 only #Avalanche Foundation will unlock tokens. All other unlocks will be done.

On-chain unlocks are much more transparent than other foundations random token sales#AVAX Foundation unlocks have set dates and is on-chain, it's predictable and everyone can plan for it.… pic.twitter.com/DtsJnH3ElC

— REKTBuildr 🔺🔺🔺 (@rektbuildr) February 22, 2024

On Aug. 22, asset manager Grayscale Investments also announced the launch of a new investment fund for AVAX, the “Grayscale Avalanche Trust,” which gives investors exposure to the networks’ growing ecosystem. 

On the same day, global asset management firm Franklin Templeton also expanded its Franklin Onchain US Government Money Fund to the Avalanche network. As reported by Cointelegraph, “The fund, which launched in 2021, allows institutional investors access to Franklin Templeton’s blockchain-integrated record-keeping system, Benji Investments.”

While the token unlocks and Grayscale Investments and Franklin Templeton news are not necessarily fundamentals-based developments directly related to AVAX, the boost in positive sentiment could be influencing investors' feelings about the altcoin’s price prospects. 

Related: Franklin Templeton expands blockchain fund to Avalanche network

From the price action perspective, AVAX’s price surge is aligned with the Grayscale announcement and an uptick in liquidations occurred as its funding rate briefly turned positive. 

AVAX 24-hour volume and liquidations. Source: Coinglass

What is important to watch for is a sustained uptick in spot buying volumes, especially given the fact that cryptocurrencies are notoriously known for having their prices driven by news events, partnership announcements, and mainnet upgrades. As shown below, this type of hopium and hype creation is a process crypto influencers and industry personnel are well familiar with. 

This week, 3 years ago, Avalanche Rush was announced. It was the most exciting and innovative incentive programs at the time.

Sequel? pic.twitter.com/FDWkQLb8P5

— Luigi D'Onorio DeMeo 🔺 (@luigidemeo) August 21, 2024

If spot buying volumes sustain or if there’s a notable increase in margined long positions, AVAX could tap into the topside liquidity above the $25 to $27 resistance cluster (as shown by the volume profile and aggregate order book) to chase prices in the $28 to $33 range.

AVAX/USDT, 1-day chart. Source: TRDR.io

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

According to BlockBeats, on August 23, according to market data, CREAM rose to $26 and is currently quoted at $25.5, a 24-hour increase of 60.86%.

The cryptocurrency industry has positioned itself as one of the fastest-growing industries internationally. According to data provided by Statista, the cryptocurrency market is expected to reach a profit of US$51.5 billion by the end of 2024.

Women Blazing Trails in the Cryptocurrency Landscape

A trend accompanying the growth of the crypto market is the increase in the number of women entering the crypto market each year, whether by investing in crypto or leading projects.

Grinego Research confirmed that at the beginning of the year, cryptocurrency holdings by women increased from 18% to 30%. Likewise, the number of positions held by women within the cryptocurrency market is increasing, accounting for 26% during 2023.

Women-Led Businesses in the Crypto Market

In an industry as changeable as that of cryptocurrencies, where everything can change in a matter of minutes, businesses and partnerships play a key role.

In this sense, finding the perfect partner to close a deal can be fundamental to the development of a successful business. The number of women leading and closing businesses in the crypto industry is on the rise.

A clear example is the recent alliance carried out by two leaders in the world of cryptocurrencies, Lena Anikeeva, founder of Pixies Studio (creating design in crypto since 2017), and Kristina Vorobeva of Sparrow PR agency, 

Within the framework of the alliance, Pixies focused on the development of the brand and the design of the logo for the communication agency. In contrast, Sparrow PR focused on the expansion of Pixies in the media.

Kristina Vorobeva stated, “When we began our work, the request was solely for promoting the Pixies brand. However, after discussing with Lena, we quickly realized the need to emphasize her strong personal brand, charisma, diverse interests, and projects. The result was a combination of personal, fashion, and crypto PR, along with the co-branding of her two brands-  Pixies design studio and Lokoto apparel brand. This approach significantly boosted Pixies’ exposure, earning mentions in top glossy and business media like Elle, Cosmopolitan, and Forbes Woman”

In this sense, we can see how the number of women closing partnerships and dominating the cryptocurrency industry is increasing.

Also, it is key to highlight that the number of women in executive positions in cryptocurrency companies is on the rise.

Two clear examples of this growing trend are the cases of Grace Chen, leading one of the largest cryptocurrency exchanges internationally known as Bitget, and Ana Ojeda, one of the main figures leading the cryptocurrency space in Latin America, known as CryptoLawyer.

We can conclude by understanding that more and more women are leading alliances and important positions within the cryptocurrency market.