$AVAX
AVAX H4 update
HTF trend: bullish
Key Findings:
1. AVAX has a current market cap of $14,871,857,025 and a total token supply of 720,000,000. The circulating supply is 220,286,577.21 AVAX tokens.
2. The current price of AVAX is $39.47, with a 24-hour price change of +5.8% and a 7-day price change of +0.18%.
Insights:
1. AVAX is a layer one blockchain platform that aims to compete with Ethereum by offering higher transaction output and improved scalability.
2. The Avalanche network consists of three individual blockchains: X-Chain, C-Chain, and P-Chain, each serving a different purpose.
3. AVAX has been working on developing its own ecosystem of DApps and DeFi, with several Ethereum-based projects integrating with Avalanche.
4. The platform is focused on improving interoperability between its ecosystem and Ethereum through the development of bridges.
5. AVAX experienced a major network outage recently, which lasted for five hours. However, the network is now operational.
Tokenomics:
1. AVAX has a total token supply of 720,000,000, with a circulating supply of 220,286,577.21 tokens.
2. The current price of AVAX is $39.47, with a 24-hour price change of +5.8%.
Latest News:
1. The engineering lead of Ava Labs announced the release of the Avalanche Durango upgrade, which aims to enhance network interoperability. The upgrade is scheduled to be activated on the mainnet on March 7th.
2. AVAX experienced a five-hour network outage recently due to a code-related bug that caused excessive CPU usage.
Funding Analysis:
Major Whale Traders' position direction for AVAX is bullish, with a long/short ratio of 5.44.
Key levels:
Neutral: 38.60
Discount zone:
36.00 - 36.40
Stop loss: 33.50
Not a financial advice, but you have a better risk:reward ratio by managing your risk properly. Please note that this recommendation is based on the available data and analysis. It is important to conduct further research and consider your own risk tolerance before making any investment decisions.
