{"id":250984,"date":"2022-08-09T01:00:41","date_gmt":"2022-08-08T19:30:41","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=250984"},"modified":"2022-08-08T19:03:57","modified_gmt":"2022-08-08T13:33:57","slug":"with-a-100-rally-behind-it-is-it-time-for-avax-to-finally-stop","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/with-a-100-rally-behind-it-is-it-time-for-avax-to-finally-stop\/","title":{"rendered":"With a 100% rally behind it, is it time for AVAX to finally stop"},"content":{"rendered":"<p>Avalanche has been an up-and-coming chain since last year. Although this year wasn\u2019t particularly favorable for a hike on the charts, Avalanche still managed to retain its position in the DeFi market and is also seemingly strengthening itself in the NFT market.<\/p>\n<h4>The NFT Avalanche<\/h4>\n<p>Over the past month, Avalanche gained on both the DeFi front, as well as the investment front.<\/p>\n<p>Recently, after the launch of Avalanche\u2019s new NFT marketplace JoePegs, the trading volumes of these non-fungible tokens began rising. In fact, throughout the month of July, NFT sales maintained a high.<\/p>\n<p>Starting 1 July, the sales first rose to $117k and averaged at $80k over the next 20 days. In doing so, it marked spikes every now and then on the charts.<\/p>\n<p>At its highest, over $179k worth of NFTs were sold through Avalanche NFT marketplaces. As of this month, the average volume has been sitting at $30k.<\/p>\n<figure id=\"attachment_250998\" aria-describedby=\"caption-attachment-250998\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Avalanche-NFT-Index.png\"><img decoding=\"async\" class=\"wp-image-250998 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Avalanche-NFT-Index.png\" alt=\"\" width=\"1200\" height=\"900\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Avalanche-NFT-Index.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Avalanche-NFT-Index-300x225.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Avalanche-NFT-Index-1024x768.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Avalanche-NFT-Index-768x576.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption id=\"caption-attachment-250998\" class=\"wp-caption-text\"><em>Avalanche NFT sales<\/em> | Source: Cryptoslam<\/figcaption><\/figure>\n<p>JoePegs&#8217; arrival has been met with acclaim from investors and artists alike. So much so that within a month, it became the biggest NFT marketplace on the blockchain, with higher trades than any other marketplace.<\/p>\n<figure id=\"attachment_251000\" aria-describedby=\"caption-attachment-251000\" style=\"width: 1831px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172618.png\"><img decoding=\"async\" class=\"wp-image-251000 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172618.png\" alt=\"\" width=\"1831\" height=\"767\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172618.png 1831w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172618-300x126.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172618-1024x429.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172618-768x322.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172618-1536x643.png 1536w\" sizes=\"(max-width: 1831px) 100vw, 1831px\" \/><\/a><figcaption id=\"caption-attachment-251000\" class=\"wp-caption-text\"><em> Avalanche NFT marketplaces <\/em> | Source: <a href=\"https:\/\/dune.xyz\/\">Dune &#8211; AMBCrypto<\/a><\/figcaption><\/figure>\n<p>This, in return, has had a positive impact on AVAX. Following the same, AVAX joined an exclusive club of a few cryptocurrencies that have risen by more than 100%.<\/p>\n<p>Rising from its lows of $15, the altcoin rallied by 100.77% in the span of almost two months to trade at $30, at the time of writing. Interestingly, it hiked by 30% in the last six days alone.<\/p>\n<figure id=\"attachment_250999\" aria-describedby=\"caption-attachment-250999\" style=\"width: 1834px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/AVAXUSD_2022-08-08_17-26-27.png\"><img decoding=\"async\" class=\"wp-image-250999 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/AVAXUSD_2022-08-08_17-26-27.png\" alt=\"\" width=\"1834\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/AVAXUSD_2022-08-08_17-26-27.png 1834w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/AVAXUSD_2022-08-08_17-26-27-300x142.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/AVAXUSD_2022-08-08_17-26-27-1024x484.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/AVAXUSD_2022-08-08_17-26-27-768x363.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/AVAXUSD_2022-08-08_17-26-27-1536x726.png 1536w\" sizes=\"(max-width: 1834px) 100vw, 1834px\" \/><\/a><figcaption id=\"caption-attachment-250999\" class=\"wp-caption-text\"><em> Avalanche price action <\/em> | Source: <a href=\"http:\/\/ambcrypto.com\/\">TradingView &#8211; AMBCrypto<\/a><\/figcaption><\/figure>\n<p>However, by the looks of it, AVAX only has a few more days worth of rally left in the tank as the cryptocurrency seemed overbought.<\/p>\n<p>The hype surrounding it created FOMO for the altcoin, one resulting in a possible trend reversal over the next couple of days. The same was underlined by the Relative Strength Index (RSI) too.<\/p>\n<p>This could affect the bullishness being seen in investors. This resulted in over 19 million transactions last month and over 8.5 million in the previous week alone.<\/p>\n<p>If the current conditions persist, by the end of the month, Avalanche could record about 34 million transactions. Alas, the chances may be pretty bleak, especially since the market will need to cool down.<\/p>\n<figure id=\"attachment_250996\" aria-describedby=\"caption-attachment-250996\" style=\"width: 922px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172516.png\"><img decoding=\"async\" class=\"wp-image-250996 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172516.png\" alt=\"\" width=\"922\" height=\"616\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172516.png 922w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172516-300x200.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Screenshot-2022-08-08-172516-768x513.png 768w\" sizes=\"(max-width: 922px) 100vw, 922px\" \/><\/a><figcaption id=\"caption-attachment-250996\" class=\"wp-caption-text\"><em>Avalanche transactions<\/em> | Source: Avalanche<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Avalanche has been an up-and-coming chain since last year. Although this year wasn\u2019t particularly favorable for a hike on the charts, Avalanche still managed to retain its position in the DeFi market and is also seemingly strengthening itself in the NFT market. The NFT Avalanche Over the past month, Avalanche gained on both the DeFi<a href=\"https:\/\/ambcrypto.com\/with-a-100-rally-behind-it-is-it-time-for-avax-to-finally-stop\/\">Continue reading <span class=\"sr-only\">&#8220;With a 100% rally behind it, is it time for AVAX to finally stop&#8221;<\/span><\/a><\/p>\n","protected":false},"author":43,"featured_media":250997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-250984","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>With a 100% rally behind it, is it time for AVAX to finally stop - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Recently, after the launch of Avalanche\u2019s new NFT marketplace JoePegs, the trading volumes of these non-fungible tokens began rising...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/with-a-100-rally-behind-it-is-it-time-for-avax-to-finally-stop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With a 100% rally behind it, is it time for AVAX to finally stop - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Avalanche has been an up-and-coming chain since last year. 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