Avalanche was ‘undervalued’ before posting 79% weekly gain: Analysts
AVAX surged while other tokens plunged, with analysts pegging its outperformance on being relatively undervalued while forging new partnerships with JPMorgan and Citi.
Avalanche (AVAX) appears to be one of the few major cryptocurrencies to buck the recent crypto decline, posting a phenomenal 79% weekly gain as others have declined.
Some analysts believe this is due to recent partnership announcements and a rise in trading volumes and total value locked, while others claim there’s been a shift in how altcoins are valued.
While Bitcoin (BTC) and Ether (ETH) saw a 6% nosedive on Dec. 11, AVAX gained 13.6% in the last 24 hours, per CoinGecko data.
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Author: Tom Mitchelhill
