Avalanche price prediction for a $30 trillion industry.

Avalanche price prediction for a $30 trillion industry.

The Booming Tokenization Industry and Avalanche’s Focus on it

The recent performance of Avalanche in the cryptocurrency market has been lackluster, with the AVAX coin experiencing a significant drop in value. The price of AVAX dipped to $12.84, its lowest point since July 13th, representing a decline of over 16% from its highest point this month[^1^]. However, despite this underperformance, Avalanche has set its sights on the potentially lucrative tokenization industry, which is estimated to exceed $30 trillion[^1^].

Avalanche has been under intense pressure in the past few months due to widespread market retreat, resulting in its ecosystem seeing decreased activity. Nevertheless, a closer examination of its DeFi platform reveals that the total value locked (TVL) remains substantial, amounting to over $1.76 billion[^1^].

At its peak, Avalanche boasted a TVL surpassing $21 billion. Among the most popular dApps in its ecosystem are Wonderland, Aave, Benqi, GMX, and Trader Joe, among others. However, the activity of these dApps has also significantly declined, with GMX’s trading volume on Arbitrum even surpassing that on Avalanche[^1^].

In response to the challenging market conditions, Avalanche has shifted its focus to tokenization. The Avalanche Foundation recently announced the launch of Avalanche Vista, an initiative in which it intends to acquire tokenized assets worth more than $50 million minted within its own ecosystem[^1^].

Tokenization is considered by many analysts to be the future of the cryptocurrency industry. Companies such as Franklin Templeton have already embraced this trend, with their OnChain US Government Money Market Fund (FOBXX) finding a home on Polygon[^1^]. According to the Boston Consulting Group, the value of tokenized assets could potentially skyrocket to over $30 trillion[^1^].

Entering the tokenization industry places Avalanche in direct competition with major players like Ethereum, Zilliqa, Solana, and Polygon[^1^]. Intain’s CEO highlighted the benefits of migrating asset administration processes to the blockchain, emphasizing the potential for improved user experience and operational efficiency[^1^].

Avalanche Price Prediction

Avalanche Price Chart

Analyzing the daily chart, it becomes apparent that AVAX has faced downward pressure in recent days. It has fallen below both the 25-day and 50-day exponential moving averages (EMA), and is now hovering near the lower boundary of the ascending channel depicted in black. Furthermore, the Moving Average Convergence Divergence (MACD) indicator is nearing its neutral point[^1^].

Considering these technical indicators, it is highly likely that AVAX will continue its descent as sellers target the key support level of $11.10, which represents the lowest level observed on June 18th[^1^].

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