One Cryptocurrency Trading Above the Support Levels- Avalanche (AVAX)

Cryptocurrency Report.

One Cryptocurrency Trading Above the Support Levels- Avalanche (AVAX)

05 September 2024

| Read Time :5:00 Mins

AVAX

Investment Type

Crypto

Risk Level

Action

Rec. Price (US$)

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Avalanche (AVAX) is a blockchain network and decentralised applications platform. It consists of three distinct blockchains, XChain, C-Chain, and P-Chain, each of which serves a particular function. AVAX has a market capitalization of ~USD 8.98 billion (as per TradingView as of September 05, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a negative note and maintained a bearish momentum for the entire week. The index declined by 351.89 points (~8.53%) to 3773.64 for the week ending August 30, 2024. In the current week starting September 02, 2024, the index is trading with negative momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing bearish momentum for the current week.

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