Avalanche price $AVAX has broken through a key resistance level, sparking optimism after two months of decline. The breakout coincides with significant network developments, most notably the Avalanche Foundation’s $40 million Retro9000 Grant Program. This initiative, combined with a major mainnet upgrade, aims to strengthen the ecosystem. Could this push AVAX price to $40?
The Retro9000 Grant Program supports testnet and mainnet developers, incentivizing L1 blockchain development on Avalanche. Data from DeFiLlama shows that Avalanche’s Total Value Locked (TVL) is increasing alongside the price, indicating growing confidence. Current TVL is $1.043 billion, up 55% from a low of $672 million in July.
Avalanche price is up 7% in 24 hours, trading at $29.42. Technical analysis shows significant buying pressure, which could push AVAX price up 36% to $40.
Key Indicators:
- 55% TVL increase in two months
- Current TVL is $1.043 billion
- 7% price increase in 24 hours
- Potential price target of $40
As crypto market confidence grows, fueled by technical indicators and increased developer activity, significant upside potential for AVAX is on the horizon. The Retro9000 grant program and mainnet upgrade will likely attract more developers and users, increasing demand for $AVAX.
Additionally, Avalanche’s scalability and security features make it an attractive option for decentralized applications (dApps). With its mainnet upgrade and funding program, Avalanche is well positioned for significant growth.
