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The crypto market experienced a notable pullback yesterday, with many assets retreating to lower levels. Avalanche (AVAX) suffered a 15% decline from its recent local top of $28.01.
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Avalanche (AVAX) is currently trading at $26.42, following an impressive 30% surge from the $20 mark to $27.
After a steep correction from its peak in March, Avalanche has been relatively quiet, underperforming compared to stronger altcoins.
Bitcoin’s rise above $63,000 has attracted buying in several altcoins, signaling that the sentiment is turning bullish.
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Avalanche (AVAX) shows signs of a potential rally after enduring months of aggressive corrections. Currently trading at $23.43 when writing, AVAX has recently broken past a critical resistance level at $22.80, confirming a structural shift in the daily timeframe.
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It would be harder than putting VINs on a private subnet, but how about allowing vehicle owners to get zero-knowledge proof of ownership on a public chain?
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Avalanche’s AVAX token surged nearly 7% to around $25 following the announcement that major institutional firms — Grayscale and Franklin Templeton — were expanding their products to the blockchain network’s ecosystem.
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It joins Grayscale’s suite of more than 20 crypto investment products.
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Franklin Templeton has expanded its pioneering blockchain-integrated money market fund to Avalanche, broadening institutional investor access to digital finance.
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The spot Bitcoin ETFs have continued to attract inflows, suggesting that the long-term bullish view remains intact.
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