AVAX Price Analysis June 2022

AVAX is a coin of the platform Avalanche. Its current price is around $16.37 by the time of writing, with a low of $9.34, and has a market cap of 4.6 billion dollars. The cryptocurrency AVAX fell 45% in 30 days, and the total market capitalization for all cryptocurrencies shrank by 29% in the same time.

What is Avalanche?

The Avalanche Foundation has launched an incentive program to support the adoption and widespread use of their Subnets. The goal is to make Subnets the premiere scaling solution for Web3 decentralized applications.

Users can use Avalanche to create and manage blockchains that fit their specific business needs. Users can create their virtual machines and dictate the blockchain parameters. With Avalanche Launch, Ethereum dApps can instantly process thousands of transactions per second.

What is AVAX?

AVAX is the coin of the Avalanche platform, which is around $16.37 by the time of writing, with a low of $9.34. It reached a high of $146.22, and its current ranking is #17 according to CoinMarketCap, with a market cap of 4.6 billion dollars. AVAX is the native token of the Avalanche platform. It can be used for payments to access different services in the ecosystem.

AVAX Coin Market Analysis 

AVAX has a max supply of 720,000,000 coins worth around $16.37 with a market volume of 424 million dollars, whereas the market capitalization is 4.6 billion dollars at writing. 

AVAX Price Prediction

On the 4H timeframe, the price action of $AVAX/USDT consolidates inside the descending channel. We must wait for a breakout or breakdown to confirm its next move.

Avax Price Charts June 2022
AVAX Price Charts June 2022

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Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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Pratyaksh

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