Is AVAX’s Potential Bull Run Caused By Avalanche Vista Announcement?

  • Avalanche Foundation announced the introduction of ‘Avalanche Vista’ on Twitter, today.
  • The aim of this new initiative was to accelerate the growth of tokenization.
  • AVAX shows potential for a bullish run as it crossed the Conversion line recently.

Avalanche Foundation, a blockchain platform, announced the introduction of ‘Avalanche Vista’ on Twitter, today. The Foundation explained that the aim of this new initiative was to accelerate the growth of tokenization and its role in on-chain finance (OnFi). The team further clarified, “The program will hone in on protocols across asset classes that have a clear value prop, comprehensive go-to-market strategy, and thoughtful view on product-market fit.”

The company stated that Avalanche Vista would create a concerted effort to support assets. To further prove the significance of tokenization, the Avalanche team shared the Bank of America’s report which predicted that asset tokenization will exceed $ 16 trillion in the next 5-15 years.

Furthermore, Avalanche mentioned that the program was launched at a time when Wall Street leaders are pointing to the “revolutionary capabilities of tokenization.” The crypto community also poured in their support for Avalanche’s latest development, believing the new project would play a vital role in tokenization’s future.

Currently, AVAX, Avalanche’s native token, is trading in between its intra-day low of $13.11 and intra-day high of $13.44. There could be a chance that the announcement of Avalanche Vista increased the demand for AVAX as the trading volume, valued at $143,735,627 is experiencing a surge of 8.72% in just 24 hours.

AVAX/USD 4-Hour Chart (Source: TradingView)

Observing the 4-hour AVAX/USD chart, the candlesticks are below the red cloud, which is considered a bearish sentiment. However, AVAX crossed the Conversion line (blue line) recently, which could be considered a potential bullish entry point. Moreover, AVAX may also cross the baseline (red line), which is the first set-target point. Crossing beyond the baseline could be considered a sign that AVAX may be moving to the second target. Overall, AVAX shows signs of a potential bull run. 

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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