{"id":27224,"date":"2022-11-09T15:11:52","date_gmt":"2022-11-09T09:41:52","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=27224"},"modified":"2022-11-09T15:11:52","modified_gmt":"2022-11-09T09:41:52","slug":"avax-crypto-prices-in-focus-as-avalanche-rush-gets-a-makeover","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/avax-crypto-prices-in-focus-as-avalanche-rush-gets-a-makeover\/","title":{"rendered":"AVAX crypto prices in focus as Avalanche Rush gets a makeover"},"content":{"rendered":"<p>Avalanche (AVAX), a popular smart contracts ecosystem, is upgrading Avalanche Rush \u2014 a liquidity mining program with a focus on incentives. Avalanche is collaborating with the decentralized exchange GMX_io to make Avalanche Rush a tool to prop up the price of AVAX crypto and intensify DeFi interest.<\/p>\n<p>The initiative involving Avalanche Rush assumes significance as Avalanche\u2019s DeFi space is witnessing TVL (Total Value Locked) degrowth. Avalanche Rush came to the fore in 2021 as a $180 million program for liquidity miners but hasn\u2019t taken off since. With GMX coming into the mix, the Rush ecosystem will benefit as liquidity pools will get to earn from trading.<\/p>\n<p>Here is a Twitter post that illustrates Avalanche\u2019s excitement:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/GMX_IO?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@GMX_io<\/a> allows for deep liquidity with its <a href=\"https:\/\/twitter.com\/search?q=%24GLP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$GLP<\/a> token, a liquidity provider token allowing LPs to earn fees from trading. <\/p>\n<p>Currently, there is over $60 million in <a href=\"https:\/\/twitter.com\/search?q=%24GLP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$GLP<\/a> staked \ud83d\udd12<\/p>\n<p>Learn more about GMX and <a href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Avalanche<\/a> Rush \u2b07\ufe0f<a href=\"https:\/\/t.co\/rOjNvSSh69\">https:\/\/t.co\/rOjNvSSh69<\/a><\/p>\n<p>&mdash; Avalanche \ud83d\udd3a (@avalancheavax) <a href=\"https:\/\/twitter.com\/avalancheavax\/status\/1589641828303003649?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">November 7, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Can a revamped Avalanche Rush impact AVAX crypto prices?<\/h2>\n<p>Past experience shows that growth in TVL helps propel specific cryptos. Something similar happened with Polygon when it trounced Solana to take up the <a href=\"https:\/\/coinswitch.co\/switch\/crypto\/polygon-surpasses-solana-by-tvl\/\">fifth place<\/a> on the DeFi roll of honor in August. Since then, Polygon (MATIC) crypto prices have been on an upward trajectory.<\/p>\n<p>With trading coming to Avalanche Rush \u2014 courtesy GMX \u2014 Avalanche aims to alter its DeFi standing. Currently, Avalanche is ranked fifth on the TVL list despite a 13.88% week-on-week dip against its name, according to <a href=\"https:\/\/defillama.com\/chains\" target=\"_blank\" rel=\"noopener\">DefiLlama<\/a>.<\/p>\n<p>Avalanche is one of the more promising DeFi projects and has over 268 protocols built into it. The current TVL is at $1.15 billion, and as you can see, it is breathing down Polygon\u2019s neck for the 4th place. However, for that to happen, the ecosystem will need a TVL boost \u2014 which a revamped Avalanche Rush plans to bring.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-27225 size-large\" src=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.28.01-PM-1024x493.png\" alt=\"AVAX crypto prices and TVL\" width=\"800\" height=\"385\" srcset=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.28.01-PM-1024x493.png 1024w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.28.01-PM-300x144.png 300w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.28.01-PM-768x370.png 768w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.28.01-PM-1536x740.png 1536w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.28.01-PM-2048x986.png 2048w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p style=\"text-align: center\">AVAX TVL: <a href=\"https:\/\/defillama.com\/chains\" target=\"_blank\" rel=\"noopener\">DefiLama<\/a><\/p>\n<p>Regarding the prices, AVAX is currently seeing a counter-wise sell-off\u2014validated by the red volume pillar. AVAX crypto prices are close to the $15.31 mark, and the daily chart shows that the moves are showing a descending channel pattern. However, if AVAX can see some positive price action around the nearest support zone of $14.58, it still has a chance to move toward the channel&#8217;s upper trendline.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-27227 size-large\" src=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.35.25-PM-1024x528.png\" alt=\"AVAX crypto prices and TVL\" width=\"800\" height=\"413\" srcset=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.35.25-PM-1024x528.png 1024w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.35.25-PM-300x155.png 300w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.35.25-PM-768x396.png 768w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.35.25-PM-1536x791.png 1536w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-09-at-1.35.25-PM-2048x1055.png 2048w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p style=\"text-align: center\">AVAX price action<\/p>\n<p>If AVAX crypto prices breach the upper trendline, they might move close to the $18-$20 zone. As always, we recommend DYOR.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avalanche (AVAX), a popular smart contracts ecosystem, is upgrading Avalanche Rush \u2014 a liquidity mining program with a focus on incentives. Avalanche is collaborating with the decentralized exchange GMX_io to make Avalanche Rush a tool to prop up the price of AVAX crypto and intensify DeFi interest. The initiative involving Avalanche Rush assumes significance as [&hellip;]<\/p>\n","protected":false},"author":76,"featured_media":27229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-27224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Ananda Banerjee\",\"description\":\"Ananda Banerjee is a creative copywriter at heart, a technical writer by profession, and a multifarious Web 3.0 creator in his leisure time. 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