The native token of Avalanche, AVAX, is performing extremely well in the range of about $20, which is creating a very strong bullish mood. Such stability, combined with explosive trading volume and a large amount of on-chain activity, is an indication of a big price movement.
Thus, several analysts are increasingly making bold price projections, as AVAX is set to experience a significant upswing in the near future.
Price Stability and Ambitious Targets
The AVAX price is at the moment gripping at the mark of approximately $20. This merging is an essential technical indicator. Significantly, this continued value is a well-built foundation of the future appreciation.
The market is getting optimistic about its short-term prospects. Consequently, the short-term price objective is worth $50. This is just the first obstacle, and there is an evident possibility of having AVAX grow to an even larger sum of over $100.
Moreover, when examining the daily chart, the price has been able to bounce on several occasions on the lower levels. Such behavior indicates a high level of purchase interest in this major support level.
AVAX Volume Hits Over $175 Billion in less than a Year
Additionally, the AVAX trade has been a bomb blast. The trading volume of the network proves high liquidity and interest of investors. The cumulative AVAX trading volume exceeded more than $175 billion in different exchanges.
This huge inflow of funds points to the wide market attraction of the token. Considering monthly indicators, the volume reached its highest point of more than $30 billion in September. Though a slight decline was observed in October, it was still in excess of $25 billion.
This large and high volume is ultimately a strong propellant. It gives AVAX the required impetus to drive it to its aggressive price objectives. Thus, the high technical support and the major RWA adoption, along with the high volume of trading, is a strong case to consider a major bullish view.
On-chain Strength and Real-world Assets
The performance of Avalanche is not just great on its price charts, but on-chain adoption is also immense. More precisely, it has become a significant participant in the current area of tokenized Real-World Assets (RWAs).
Indeed, AVAX is currently positioned in third place in the list of all networks in terms of tokenized US Treasuries. This classification is informed by a huge market cap of up to $638.3 million in the market cap of these tokenized assets.
