Grayscale's Digital Large Cap Fund recently announced to the public that many institutional investors are paying more attention to the Avalanche ecosystem. This means they are optimistic about the future of DeFi and want to get more involved in it. These companies prefer to invest in cryptocurrencies through ETFs.
This potential is why analysts are optimistic that AVAX could reach unprecedented price levels. If we take signals from the approval of Bitcoin and Ethereum ETFs, we have seen a leap in their values immediately after. AVAX could record similar growth if institutional investment is high enough and other aspects of the token start to align.
Although AVAX has consolidated around the $27.75 level, analysts are predicting a bullish breakout as ETFs come into play. If all goes well, this move is expected to drive AVAX up to a high of $440. Thanks to its growth potential, large-scale investors have been heavily buying into this token, making it one of the top cryptocurrencies to buy this quarter.
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