Lower interest rates on US Dollar and elevated priced on safe-heaven Gold assets encourage investors to look for alternatives beyond stocks. Some undervalued crypto tokens are getting a boost because of this. Avalanche (AVAUSD) could be mentioned among the trusted ones, also having a positive historical background in the long distance. With the current CoinMarketCap ranking #13 and a live capitalization of $14,5 billion, it is up more than 40% since the start of September, including 4.3% in the last 24 hours. Avalanche has covered its path from $25 to $35 during the recent couple of weeks, gaining momentum. It has held the $27.5 technical resistance line since July, but quickly went higher amid strong demand, likely aiming for a December high near $55 or even a March 2024 peak above $65. So there's still room for inspiration!
The recent progress of Ethereum prices helps Avalanche a lot, as Avalanche is an Ethereum-like competitor to Ethereum itself, which can better prioritizes scalability and transaction processing speed, so that Avalanche is providing cheaper transactions and has an upside potential as subnets expand. Solana is now even faster than Avalanche, but Avalanche is considered as safer platform among this type of smart contract blockchains. Avalanche Bridge protocol can also transfer money from the Bitcoin or Ethereum networks to the Avalanche's own C-Chain and vice versa.
