Avalanche (AVAX) attracted $250 million in investments as part of the support for the Avalanche9000 upgrade. Among the leading investors are #Galaxy, #Dragonfly, and #ParaFi.
All proceeds will go towards scaling the L1 ecosystem. In particular, to stimulate the development of projects launched in the Avalanche9000 testnet.
A total of over 40 investment companies participated in the round.
On November 26, it was reported that according to our indicator, the price of #AVAX transitioned into a stable uptrend on the weekly timeframe.
Since then, the asset price has risen by 31% from $42 to $55.79 at its peak. Now the results are more modest, but still good. The price nearly reached the test of the trend line from October 2023, which is currently acting as resistance.
The asset is just at the beginning of its journey in the altseason; even testing the 0.5 Fibonacci level of the entire correction from the current ATH is a price of $77.83.
With an updated ATH of $147, the targets based on Fibonacci levels are:
Level 1.618 - $232,
Level 2.618 - $370,
Level 3.618 - $509,
Level 4.236 - $594.
The targets are not astronomical for an altseason for such an asset. However, it is currently difficult to say how many of them will materialize. The preliminary expected period for the peak of the growth that started in November for the asset is May-July 2025.
