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Reasons Why More Avalanche (AVAX) Holders Are Buying Bitgert (BRISE)

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Reasons Why More Avalanche (AVAX) Holders Are Buying Bitgert (BRISE)

Key Points:

  • Avalanche price has been plummeting
  • Bitgert still has a bullish outlook
  • Bitgert has the fastest-growing ecosystem
  • Bitgert has disruptive projects coming up

Bitgert (BRISE) has recently been received hundreds of new investors from large cryptocurrencies. This explains why the Bitgert’s holders count reached 150k during the bear market. Avalanche (AVAX) is among the crypto projects that have its investors joining Bitgert.

The number of Avalanche (AVAX) holders joining Bitgert is growing rapidly, especially during the bear market. But Why are Avalanche holders buying Bitgert? Several factors make Bitgert an ideal crypto investment, hence attracting Avalanche holders. They include:

Bullish Price Growth

One of the biggest factors is the bullish nature of the Bitgert coin. Unlike Avalanche, Bitgert has maintained a bullish outlook. That’s why Avalanche holders like it. Crypto analysts have also put Bitgert among the coins that will explode this year. That’s why more Avalanche holders are buying BRISE.

Fastest Growing Ecosystem

The other reason why Avalanche holders are buying Bitgert is the fast speed of ecosystem growth. Bitgert has the fastest-growing ecosystem in the market today. The fast building of the Bitgert products and projects has made Brise the fastest-growing ecosystem. This means massive adoption, which is what attracts Avalanche holders.

Roadmap V2

The products in the Bitgert roadmap V2 are a major fact that attracts Avalanche holders. These highly disruptive products will make Bitgert one of the most adopted crypto projects. This means skyrocketing prices, and that is why Avalanche holders are joining. More Avalanche holders will be joining as more products launch.

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BRC20 Blockchain

Avalanche holders are also joining Bitgert because of the powerful BRC20 blockchain. Avalanche investors understand the price growth that comes with the mass adoption of the only zero gas fee chain. The Bitgert BRC20 blockchain is also the fastest chain right now.

Bitgert Backed Projects

Avalanche holders are also attracted by the Bitgert backed projects. There are many projects launching on the Bitgert chain that Avalanche holders can invest in. Some projects have grown to multi-million marketcaps and have already made Avalanche holders rich.

These are just some major reasons why more Avalanche holders are buying Bitgert. More Avalanche holders will be joining if the bear market persists.

The post Reasons Why More Avalanche (AVAX) Holders Are Buying Bitgert (BRISE) appeared first on .

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Analysis

Biggest Movers:  XRP Up By Nearly 15%, As AVAX Climbs To 12-Day High On Friday

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Biggest Movers:  XRP Up By Nearly 15%, As AVAX Climbs To 12-Day High On Friday

XRP rose by nearly 15% during today’s session, climbing to its highest point in over a week in the process. This rise in momentum within the crypto market also saw AVAX hit a 12-day high, following a gain of over 11% on Friday.

XRP

Bullish pressure in XRP intensified on Friday, as prices rose to their highest point in over a week during today’s session.

Today’s surge saw XRP/USD rally to an intraday high of $0.3847, which is its highest point since June 11.

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Overall, prices are currently 13.6% higher than Thursday’s low of $0.3244, and this comes after a marginal breakout of a key price ceiling.

XRP/USD – Daily Chart

This resistance point was at the $0.3800 mark, and was broken as short-term momentum continued to move upwards.

Looking at the chart, the moving average of 10 days (red) confirms this shift in direction, with the trend now heading higher.

In addition to this, the 14-day RSI is tracking at its highest point in over three months, after hitting a high of 50.71 earlier today.

However, this point is also a resistance level, which is why earlier gains have somewhat eased, as some bulls likely liquidated positions.

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Avalanche (AVAX)

AVAX was another notable mover to end the week, as prices moved close to a key mark of $20 on Friday.

Following a slow start to the week that saw AVAX/USD hit an all-time low of $13.53, prices rose to a peak of $19.97 earlier today.

This move saw prices rise by as much as 13% in the day, with bulls attempting to break out of the current ceiling.

AVAX/USD – Daily Chart

Despite this rise in bullish pressure, the resistance of $20 has so far held firm in today’s session, with prices now trading at $19.29 as of writing.

One reason for this might be that we have also seen the Relative Strength Index hit a ceiling of its own.

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As a result of this, we may not see enough bulls re-enter the market to help lead a breakout of the $20 level.

Do you expect AVAX to break out of this resistance this weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Analysis

Biggest Movers: MKR Up 20% To Start The Week, Whilst AVAX Rebound Continues

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Biggest Movers: MKR Up 20% To Start The Week, Whilst AVAX Rebound Continues

MKR was up by nearly 20% to start the week, as prices continued to move away from recent lows. AVAX was also in the green, as it climbed by over 10% on Monday, after hitting a ten-month low during the weekend.

Maker (MKR)

MKR was a notable mover to start the week, as prices climbed nearly 20% on Monday, following recent declines.

Following an intraday bottom of $789.20 on Sunday, MKR/USD raced to a peak of $948.50, as prices neared a key resistance point.

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This level is the $1,000 mark, which was broken last week, for the first time since December 2020.

MKR/USD – Daily Chart

However, bulls seem to have re-entered following this multi-year low, and using this as an opportunity to “buy the dip”.

As of writing, earlier gains have somewhat eased, with MKR trading around $40 lower than today’s previous peak.

This comes as the 14-day RSI hit a resistance point of its own, at the 43 level, which likely triggered bulls into selling.

Avalanche (AVAX)

AVAX was also higher for a second consecutive session, moving away from a ten-month low in the process.

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Following a drop to $13.91, which is its lowest point since August 2021 over the weekend, AVAX/USD rebounded to start the week.

This surge saw prices hit an intraday high of $17.82, which is over 15% higher than the low during the weekend.

AVAX/USD – Daily Chart

Bulls now seem set on taking prices back towards a key resistance level of $22, and this might be a realistic target, following another breakout.

This breakout is of the ceiling on the 14-day RSI of 34.75, which was broken earlier today, with the indicator now tracking at 36.70.

Should we hit $22, some bulls will likely exit at this point, choosing to secure profits, rather than attempt to maintain momentum.

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Could we hit $22 in the next few days? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, dennizn / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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7 day losses

Value Locked In Defi Slips To $74 Billion, Top Smart Contract Tokens Down Over 70% This Year

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Value Locked In Defi Slips To $74 Billion, Top Smart Contract Tokens Down Over 70% This Year

Decentralized finance (defi) has been hit hard by the recent crypto market rout as the total value locked (TVL) across 118 different blockchains has slipped below the $100 billion mark to today’s $74.27 billion. The TVL in defi today is down more than 70% from its December 2, 2021, all-time high (ATH) at $253.91 billion. Moreover, since December 2021, the top smart contract platform tokens have lost 70% in value against the U.S. dollar as well, sliding from $823 billion to today’s $245 billion.

Defi Continues to Get Slammed by the Market Carnage, Top Smart Contract Platform Tokens Record Significant Losses

While a great number of cryptocurrencies including the leading crypto asset in terms of market valuation, bitcoin (BTC), slid significantly in value, smart contract platform tokens and decentralized finance (defi), in general, suffered a great deal.

While Terra’s LUNA and UST fallout primed the flames, issues with Celsius, Three Arrows Capital (3AC), and the lack of trust in algorithmic stablecoins have continued to keep defi fires roaring. Six days ago, Bitcoin.com reported on how defi and smart contract coins got slammed by significant blows and at the time, there was still $104 billion in value locked into a myriad of defi protocols.

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Today, the total value locked (TVL) in defi is $74.27 billion, down 70.74% since the all-time high 197 days ago on December 2, 2021. The defi protocol Makerdao dominates the pack with 10.43% in terms of the application’s TVL of $7.75 billion out of the $74.27 billion.

The total value locked (TVL) in decentralized finance, according to defillama.com metrics on June 17, 2022.

During the past 24 hours, the entire TVL across 118 different blockchain networks dropped by 6.03%. Makerdao’s TVL shed 15.19% during the past seven days and the second-largest protocol in terms of TVL size Aave lost over 40% last week.

Today, ethereum commands the largest TVL size out of all the blockchains with $47.33 billion or 64.18% of the aggregate locked. The second-largest defi blockchain as far as TVL size is concerned is Binance Smart Chain (BSC) with $6.06 billion or 8.22% of the $74.27 billion locked in defi today.

The total value locked (TVL) on all chains according to defillama.com metrics on June 17, 2022.

Tron is the third-largest blockchain network in terms of TVL size with 3.99 billion or 5.42% of the aggregate locked across the 118 chains. Furthermore, the total value locked in cross-chain bridges from Ethereum has dropped more than 60% during the past month, according to Dune Analytics metrics.

The total value locked (TVL) across a myriad of cross-chain bridges from Ethereum, according to Dune Analytics data on June 17, 2022.

The tokens often leveraged in defi, smart contract platform coins have also shed more than 70% since December. At that time, the market capitalization of all the smart contract platform tokens was $823 billion and today it is hovering just above $245 billion.

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Ethereum (ETH) is the leading smart contract platform token as it commands $131.50 billion of the $245 billion. ETH is down 39.3% over the last seven days and most smart contract tokens have seen considerable losses during the past week.

Avalanche (AVAX) shed 34%, binance coin (BNB) lost 25%, cardano (ADA) dropped by 22.5%, polkadot (DOT) slid by 20.7%, and solana (SOL) lost 22.3% in seven days. One of the only smart contract coins not down this past week is chia (XCH) as it is up by 1.2% against the U.S. dollar.

Tags in this story

7 day losses, ada, Avalanche, Cardano, Chainlink, crypto assets, Cryptocurrencies, DeFi, defi smart contract, Defi TVLs, defillama.com, Dune Analytics, Ethereum, LiNK, Losses, Market Caps, Monthly, Polkadot, smart contract coins, Smart Contract Tokens, Solana, tron, TVL, value locked, values, Weekly

What do you think about the value locked in defi slipping to fresh lows and the losses smart contract platform tokens have seen during the last year? Let us know what you think about this subject in the comments section below.

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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