Trader AMCrypto suggests that breaking the $55 level will mark the end of a multi-year downtrend, paving the way for a strong rally as other 2021 cycle coins are also surging.

Crypto Raven notes a 2.5x increase in Avalanche’s value since the election and emphasizes its potential, citing institutional backing as a driving force.

Statistics: IntoTheBlock data shows large transaction volume increasing by 298.6% and daily active addresses growing by 23.4%. Transactions greater than $100,000 are up from 380 to 1,516 in a single day. At current price levels, 80% of AVAX holders are making profit.  

Community News: Messari’s State of Avalanche Q3 report stated that Avalanche9000, the most significant update since the mainnet launch, is reducing costs and complexity for launching Layer-1s while enabling seamless liquidity flow across networks.

Avalanche has also announced Retro9000 Initiative, a $40 million gamified testnet experience encouraging developers to explore Avalanche9000 features for enhanced scalability.

Total value locked in Avalanche decentralized finance increased from $903.6 million to $1.5 billion in Q3, with transaction activity rising by 18% to 1.2 million. By the end of Q3, there were 38 different decentralized exchanges on Avalanche, adding 7 over the quarter.

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