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The Avalanche price has jumped 16% in the last 24 hours to trade at $35.46 as of 12:30 a.m. EST.
This comes as whales accumulate more AVAX in anticipation of a pump, as shown by on-chain stats provided by @berly_eth.
Small update :
Avax foundation’s alt wallet totally bought up $BEAR tokens for 3100 $AVAX ($ 115K) on dips during 2 days.
Last buy was 4.5 hours ago, Then they added $ 92K worth of tokens to Bear LP.
The other part of tokens was sent to another wallet.AVAX foundation main… pic.twitter.com/kQW2LqBZpF
— B.E.R.L.Y (@berly_eth) December 11, 2023
Avalanche Price Prediction
Looking at 30-minute AVAX/USD charts, the 50-period moving average has exceeded the 200-period moving average, showing buying pressure on Avalanche.
This indicates a continuous price pump in the short term as bulls now look to break past the $37.7 resistance level.
The Relative Strength Index indicator is also on an upward trajectory as it moves above fifty, showing bullishness on Avalanche.
The Avalanche price is volatile, as shown by the Bollinger Bands, which are moving far apart. This can be attributed to increasing trading activities that have seen AVAX’s trading volume surge by 41% within the last 24 hours.
Looking at it from a long-term perspective, the Total Value Locked (TVL) has risen in the past few days, suggesting looming bullishness in the long term on the Avalanche price amid the increasing chain activity.
Meanwhile, as the Avalanche price jumps, the new BTCETF Token presale is continuing to attract more investors. The presale has now amassed almost $3.5 million, showing massive investor confidence.
Avalanche Price Prediction: Is The Bitcoin ETF Token A Better Investment Than AVAX?
Amid growing anticipation surrounding the Securities and Exchange Commission’s decisions on various Bitcoin ETF applications in early 2024, investors are flocking to Bitcoin ETF Token (BTCETF) to position for a bull run after approvals.
Insights from @Fidelity Jurrien Timmer shed light on a potential #BitcoinETF approval.
Will it trigger a 'sell-the-news' reaction or attract a new wave of stakeholders? 🤔📈
What impact do you think the #SEC's decision on a #Bitcoin #ETF will have on the market sentiment?
— BTCETF_Token (@BTCETF_Token) December 8, 2023
The presale for BTCETF, an ERC-20 token, is now priced at $0.0066, with further increases on the horizon.
BTCETF’s presale strategy is geared towards deflationary measures, with a plan to burn 25% of its token supply. Additional burns are triggered by specific milestones, including a 5% reduction if BTCETF’s trading volume reaches $100,000.
BTCETF imposes a 5% charge on all buy and sell transactions to complement these deflationary burns. Notably, the fourth milestone, tied to a $1 billion total assets under management (AUM) for Bitcoin ETFs, will see a reduction in the transaction tax from 2% to 1%, accompanied by a 5% burn of BTCETF tokens.
Future Milestones Tied to Bitcoin’s Performance
The fifth and final benchmark for BTCETF hinges on Bitcoin’s price hitting the significant $100,000 mark. Upon achieving this milestone, an additional 5% of the token supply will be burned while the existing 1% transaction tax will be eliminated.
As mainstream opinion aligns with expectations of Bitcoin ETF introductions in early 2024, significant cash inflows to new BTC ETF products could propel BTC to new heights, potentially leading to exponential increases in token prices from their current presale rates.
With the favorable outlook for Bitcoin ETF approvals, BTCETF and similar projects are poised for a promising start in 2024.
The deflationary tokenomics of BTCETF offers the price additional support, aligning with potential macro changes in the crypto landscape.
As the cryptocurrency market matures towards widespread adoption, investors can position to gain from this significant evolution in the crypto investment landscape.
So, as you watch the Avalanche price, remember not to miss out on the Bitcoin ETF Token presale amid its massive upside potential on listing.
Get your Bitcoin ETF Token here.
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