In a massive rally over the last week, Avalanche’s native cryptocurrency AVAX has shot up by another 20% in the last 24 hours, shooting to $42, and unseating Dogecoin as the ninth-largest cryptocurrency by market cap. With this move, Avalanche has extended its weekly gains to a staggering 85%, and the best among the top ten cryptocurrencies.

지난 주 대규모 랠리에서 Avalanche의 기본 암호화폐인 AVAX는 지난 24시간 동안 20% 더 급등하여 42달러까지 치솟았고 시가총액 기준으로 9번째로 큰 암호화폐인 Dogecoin을 밀어냈습니다. 이러한 움직임으로 Avalanche는 주간 수익을 85%로 확대했으며 상위 10개 암호화폐 중 최고 수준을 기록했습니다.

Avalanche DEX Traders on A Frenzy

DeFiLlama data reveals noteworthy developments in the decentralized finance (DeFi) space, specifically related to Avalanche’s leading decentralized exchange (DEX), Trader Joe. On December 11, Trader Joe’s fee capture soared to $1.23 million, marking the second-highest figure for the year.

Additionally, the platform’s revenue reached $145,000, reflecting a significant milestone. The past 24 hours have seen a remarkable surge in AVAX, the native token of Avalanche, exceeding 20% and surpassing the $40 mark.

또한 플랫폼 수익은 145,000달러에 달해 중요한 이정표를 세웠습니다. 지난 24시간 동안 Avalanche의 기본 토큰인 AVAX가 20%를 초과하고 40달러를 넘는 놀라운 상승세를 보였습니다.

This surge propelled AVAX into the top ten in market capitalization, reaching its highest point since May 2022. Simultaneously, Trader Joe’s native token, JOE, experienced a gain of over 9%.

이러한 급등으로 AVAX는 시가총액 상위 10위권에 진입하여 2022년 5월 이후 최고치를 기록했습니다. 동시에 Trader Joe의 기본 토큰인 JOE는 9% 이상의 이익을 경험했습니다.

Large AVAX Transactions and Validator Support

AVAX has showcased remarkable outperformance compared to other prominent altcoins, drawing bullish sentiments from various cryptocurrency analysts. Analysis provided by IntoTheBlock highlights a noteworthy trend in the increasing number of substantial AVAX transactions.

Last week, the figures peaked at nearly 1,000 transactions surpassing $100,000. Although these levels are not yet comparable to those observed in the previous bull market, they are viewed as a positive indicator for bullish market sentiments.

지난 주에는 10만 달러를 넘는 거래가 거의 1,000건에 달해 최고치를 기록했습니다. 이러한 수준은 아직 이전 강세장에서 관찰된 수준과 비교할 수는 없지만 강세 시장 정서를 나타내는 긍정적인 지표로 간주됩니다.

Furthermore, Avalanche has generated significant attention by implementing a strategic initiative to heavily incentivize validators, resulting in a notable uptick in its market value.

As of December 7, this fourth-generation proof-of-stake blockchain has dedicated over $275 million in AVAX to reward its validators over the past year, a substantial contrast to its earnings of $11.5 million in user fees.

12월 7일 현재, 이 4세대 지분 증명 블록체인은 지난 1년 동안 검증자에게 보상하기 위해 AVAX에 2억 7,500만 달러 이상을 투자했는데, 이는 사용자 수수료 1,150만 달러의 수익과 상당한 대조를 이룹니다.

This proactive approach, aimed at ensuring efficient transaction confirmations, underscores Avalanche’s dedication to maintaining a resilient and decentralized network.

The financial implications of Avalanche’s validator incentives have sparked discussions and enthusiasm within the AVAX community, giving rise to speculation about the potential price trajectory of AVAX as we approach the conclusion of 2023. The next major price resistance for Avalanche (AVAX) is at $53, another 25% from the current levels.

The post Avalanche (AVAX) Price Shoots 20% Toppling Dogecoin, DEX Traders Benefit appeared first on CoinGape.

Avalanche(AVAX) 가격이 Dogecoin을 20% 토플링한 포스트, DEX Traders Benefit이 CoinGape에 처음 등장했습니다.