Avalanche: This update could open doors for AVAX bulls because…
The newly launched European stablecloins underscore healthy growth for the Avalanche ecosystem. It could be good fordepending on the level of demand the new European stablecoins can generate in the short and long term.
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.AVAX registered noteworthy growth in the last 10 days, hence the shift in demand in favor of the bulls.
Despite the uncertainty, AVAX’s demand in the derivatives market has been growing. Furthermore, the demand specifically on Binance was positive, hence leaning on the bullish side.
France Dernières Nouvelles, France Actualités
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