Avalanche has exceeded $10 after jumping 18% this month. This comes after a lengthy downtrend, rendering it 92% from its all-time high (ATH). However, recent ecosystem advancements may have carved a market bottom, enabling a long-term reversal.
Meanwhile, TG Casino has soared in its presale, raising over $1.5 million in just one month. Will this be the next crypto to explode following its exchange launch?
Avalanche Price Climbs Amid Ecosystem Developments and Growing Developer Activity
Avalanche’s bullish sentiment began in September when the team announced a partnership with SK Planet subsidiary company Dreamus. SK Planet is a prominent conglomerate in South Korea with over 2,000 employees.
The partnership would see Avalanche and SK Planet’s UPTN Subnet power a ticketing platform for Dreamus. According to a follow-up tweet, Dreamus is the company behind countless leading K-POP stars. It will leverage Avalanche to help alleviate issues with scalping, secondary market abuse, and counterfeit tickets.
Avalanche published the tweet on 22 September, and the price began climbing almost immediately.
Then, geopolitical turmoil caused the price to plunge in October, but it has since recovered and created a higher high.
However, zooming out, Avalanche is still trading at a significant discount, down 92% from its ATH.
Nevertheless, Avalanche’s developer community is seemingly more robust than ever, with the amount of developer commits reaching an ATH in September, closely followed by October.
Other notable announcements have also been made in the last week, which could be helping the AVAX price. For instance, Chainlink announced that Chainlink Functions and Automation 2.0 are now live on Avalanche.
According to Avalanche, these integrations will aid developers’ flexibility with off-chain computation.
Meanwhile, the team also announced that Lido DAO’s liquid ETH, wstETH, is now available on Avalanche. This means that Avalanche users can deposit wstETH on Avalanche-based dApps to generate yields, along with numerous other benefits.
These factors show Avalanche has been making considerable ecosystem advancements, reflected in its strong price performance.
Moving to technical analysis, X user TheoTrader recently published a trade idea that predicts a macro trend reversal with a $70 price target.
The main reasons for the prediction are multiple reversal signals and a complete reset on the RSI and relative volume indicators at the beginning of October.
However, with the Avalanche price coming off such a strong downtrend, traders must await a trend reversal confirmation. The most common reversal confirmation is a higher high – this would occur when AVAX hits $15.
Until then, traders would be better poised to consider cryptos displaying more bullish momentum. One is TG Casino, which analysts back to explode and just hit $1.5 million in its presale.
TG Casino Also Bullish as New GambleFi Token Raises $1.5M
Crypto casinos have become one of the blockchain industry’s most promising use cases lately. Blockchain solves gambling-related issues by facilitating faster payouts, easier deposits, less geo-restrictiveness, and more privacy.
However, the new presale project TG Casino magnifies these benefits through its KYC-free, Telegram-based casino.
Users can get started in seconds without creating an account or verifying their identity. What’s more, Telegram’s one billion users have almost instant access to the casino, and its end-to-end encryption means they can play privately from anywhere in the world.
The platform’s native token, $TGC, provides benefits that will likely translate to significant demand. For instance, holders get 25% cashback on all losses, access to exclusive games and rooms, free rewards, and a 332% staking APY.
Another promising feature is its buyback mechanism, which will repurchase $TGC tokens with a portion of the platform’s revenue. It will burn 40% of the tokens and send 60% as staking rewards.
These factors have contributed to prominent analysts like Cilinix Crypto predicting the price will explode once it launches on exchanges.
So far, the presale has raised $1.5 million in just one month, attesting to the popular demand for its cutting-edge use case and robust tokenommics. However, with a price rise set to occur in two days, those looking to buy must act fast.