{"id":317181,"date":"2023-05-30T12:00:19","date_gmt":"2023-05-30T06:30:19","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=317181"},"modified":"2023-05-30T09:58:18","modified_gmt":"2023-05-30T04:28:18","slug":"avalanche-this-update-could-open-doors-for-avax-bulls-because","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/avalanche-this-update-could-open-doors-for-avax-bulls-because\/","title":{"rendered":"Avalanche: What a new update will mean for AVAX"},"content":{"rendered":"<ul>\n<li><em>Avalanche extends its service to the European market with new stablecoins.<\/em><\/li>\n<li><em>AVAX fails to sustain recent upside as demand falls short of expectations.<\/em><\/li>\n<\/ul>\n<p>A few weeks ago, <a href=\"http:\/\/ambcrypto.com\/avalanche-how-defi-and-stablecoins-improved-the-network\/\">Avalanche<\/a> revealed that it would support the <a href=\"http:\/\/ambcrypto.com\/after-ethereum-stablecoin-euroc-set-to-enter-avalanches-fold\/\">EuroCoin [EUROC],<\/a> a stablecoin pegged to the Euro currency. Well, that launch is finally here as it has been confirmed that it is now live on Avalanche.<\/p>\n<p>EUROC&#8217;s launch on Avalanche marks an important milestone for the parties involved. Especially for Avalanche which expects to benefit in terms of network utility as one of the layer 1 networks supporting the stablecoin.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the <a href=\"http:\/\/ambcrypto.com\/calculator\/avalanche-2-profit-calculator\" target=\"_blank\" rel=\"noopener\">Avalanche Profit Calculator<\/a><\/p>\n<hr \/>\n<p>This is because EUROC also operates on the Ethereum network but its new launch on Avalanche may offer some benefits. These include faster and cheaper transactions.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udd25Breaking New\ud83d\udd25<a href=\"https:\/\/twitter.com\/hashtag\/EuroCoin?src=hash&amp;ref_src=twsrc%5Etfw\">#EuroCoin<\/a> is now multi-chain and live on <a href=\"https:\/\/twitter.com\/avax?ref_src=twsrc%5Etfw\">@avax<\/a><\/p>\n<p>\ud83d\udc49Euro Coin, or <a href=\"https:\/\/twitter.com\/search?q=%24EUROC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$EUROC<\/a>, launched on Ethereum in 2022 to provide businesses and developers with a fully reserved, euro-backed stablecoin they can trust.<a href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\">#Avalanche<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/AVAX?src=hash&amp;ref_src=twsrc%5Etfw\">#AVAX<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$AVAX<\/a><a href=\"https:\/\/t.co\/QitrqQOeUW\">https:\/\/t.co\/QitrqQOeUW<\/a> <a href=\"https:\/\/t.co\/ufB8UtMznr\">pic.twitter.com\/ufB8UtMznr<\/a><\/p>\n<p>&mdash; Hyperliquid Daily (@HYPERDailyTK) <a href=\"https:\/\/twitter.com\/HYPERDailyTK\/status\/1663135774684880896?ref_src=twsrc%5Etfw\">May 29, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The launch represents an interesting dynamic shift following the recent anti-crypto sentiments in the U.S. Europe has been a bit friendlier and offers more clarity as far as crypto regulations are concerned. As such, crypto companies are now eying Europe as a favorable market for crypto.<\/p>\n<p>The new development came just a few days after Avalanche added support for EUROe. This is the first stablecoin, to secure MiCA-compliant stablecoin. MiCA is the EU regulation that oversees the issuance of stablecoins and crypto assets in the EU.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Membrane Finance is proud to bring the first MiCA-compliant stablecoin onto Avalanche!<a href=\"https:\/\/twitter.com\/avax?ref_src=twsrc%5Etfw\">@avax<\/a> is a future-proof blockchain built to scale \u2013 now the ecosystem participants can also access future-proof money on Avalanche.<a href=\"https:\/\/t.co\/Bx94SBtY7X\">https:\/\/t.co\/Bx94SBtY7X<\/a><\/p>\n<p>&mdash; EUROe (@EUROemoney) <a href=\"https:\/\/twitter.com\/EUROemoney\/status\/1662081199748128768?ref_src=twsrc%5Etfw\">May 26, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><strong>Will this shift in dynamics be favorable for AVAX?<\/strong><\/h3>\n<p>The newly launched European stablecloins underscore healthy growth for the Avalanche ecosystem. It could be good for <a href=\"http:\/\/ambcrypto.com\/avalanche-activity-spikes-how-will-avax-react\/\">AVAX<\/a> depending on the level of demand the new European stablecoins can generate in the short and long term.<\/p>\n<p>AVAX extended its break below ascending support by almost 15% since the first week of May. Despite the bearish performance, it managed to avoid dipping into oversold territory and the bulls managed to regain control in the last few days, albeit briefly. AVAX exchanged hands at $14.46 at press time after shedding some of the gains achieved during the weekend.<\/p>\n<figure id=\"attachment_317184\" aria-describedby=\"caption-attachment-317184\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSD_2023-05-29_23-15-44.png\"><img decoding=\"async\" class=\"wp-image-317184 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSD_2023-05-29_23-15-44.png\" alt=\"AVAX price action\" width=\"1280\" height=\"575\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSD_2023-05-29_23-15-44.png 1280w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSD_2023-05-29_23-15-44-300x135.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSD_2023-05-29_23-15-44-1024x460.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSD_2023-05-29_23-15-44-768x345.png 768w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/a><figcaption id=\"caption-attachment-317184\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>AVAX registered noteworthy growth in the last 10 days, hence the shift in demand in favor of the bulls. This was a sign that there had been some accumulation confirmed by the MFI uptick during the same period. However, demand wasn&#8217;t quite there yet since there was still low volatility, which reflected the weak demand.<\/p>\n<figure id=\"attachment_317183\" aria-describedby=\"caption-attachment-317183\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.38.13-29-May-2023.png\"><img decoding=\"async\" class=\"wp-image-317183 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.38.13-29-May-2023.png\" alt=\"Avalanche volume, weighted sentiment and volatility\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.38.13-29-May-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.38.13-29-May-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.38.13-29-May-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.38.13-29-May-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.38.13-29-May-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.38.13-29-May-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-317183\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>As far as the <a href=\"http:\/\/ambcrypto.com\/avalanche-attempts-to-expand-its-user-base-by-launching\/\">investor sentiment<\/a> was concerned, the weighted sentiment has been up and down for the last few days. Not really favoring a particular side. It suggested that traders were still unsure of the market\u2019s next move.<\/p>\n<p>Despite the uncertainty, AVAX&#8217;s demand in the derivatives market has been growing. Furthermore, the demand specifically on Binance was positive, hence leaning on the bullish side.<\/p>\n<figure id=\"attachment_317182\" aria-describedby=\"caption-attachment-317182\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.42.48-29-May-2023.png\"><img decoding=\"async\" class=\"wp-image-317182 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.42.48-29-May-2023.png\" alt=\"Avalanche AVAX funding rates on Binance\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.42.48-29-May-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.42.48-29-May-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.42.48-29-May-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.42.48-29-May-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.42.48-29-May-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-23.42.48-29-May-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-317182\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EUROC&#8217;s launch on Avalanche marks an important milestone for the parties involved. Especially for Avalanche which expects to benefit in terms of network utility as one of the layer 1 networks supporting the stablecoin.<\/p>\n","protected":false},"author":63,"featured_media":317185,"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-317181","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 v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Avalanche: What a new update will mean for AVAX - AMBCrypto<\/title>\n<meta name=\"description\" content=\"A few weeks ago, Avalanche revealed that it would support the EuroCoin (EUROC), a stablecoin pegged to the Euro currency. 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Well, that launch..","robots":{"index":"index","follow":"follow","max-image-preview":"max-image-preview:large"},"canonical":"https:\/\/ambcrypto.com\/avalanche-this-update-could-open-doors-for-avax-bulls-because\/","og_locale":"en_US","og_type":"article","og_title":"Avalanche: What a new update will mean for AVAX - AMBCrypto","og_description":"EUROC's launch on Avalanche marks an important milestone for the parties involved. 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