CandleFocus Avalanche (AVAX) Rallies On Fed Rate Cut, DeFi Growth Boosts Long-Term Outlook
2024-09-21
Author: Content Editor
Avalanche (AVAX) has experienced a 17% price increase in the past seven days, reaching $28.12. This surge is part of a larger recovery in the crypto market following the Federal Reserve's decision to lower interest rates by 50 basis points, aiming to lower inflation and stimulate economic development. AVAX is one of the best performing cryptocurrencies, and its price projection remains positive. Additionally, Avalanche's total value locked (TVL) in its decentralized finance (DeFi) department has increased by 11% in recent months, indicating growth and stability. Technical indicators suggest AVAX could climb by 245% in the next three months, with long-term gains projected as well. While the influence of the Federal Reserve's rate cut is uncertain, investors remain positive as AVAX gains traction in the DeFi market.
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