Although AVAX has pumped more than 4x over the last month, the popular crypto channel Coin Bureau believes that AVAX has the most room to grow of all the top smart contract crypto.
Avalanche recap
The Avalanche mainnet went live in September 2020 after a series of funding rounds which collectively raised over 60 million dollars.
Given the exponential speed at which gossiped information can spread, it makes it possible for Avalanche to process roughly 4,500 transactions per second (TPS), and achieve finality within one second.
In August, Avalanche announced Avalanche Rush, a 180-million-dollar incentive program to pull popular DeFi protocols into Avalanche’s ecosystem.
As the trader says, the first two big DeFi projects to announce their deployment to Avalanche were Aave and Curve Finance, and in just the last couple of weeks, we’ve seen a slow of other DeFi protocols follow suit. Even though most of these DeFi protocols have yet to deploy on Avalanche, the total value locked in Avalanche’s DeFi ecosystem is pushing the 3-billion-dollar mark.
AVAX Price Analysis
According to Coin Bureau, Avalanche’s updates and developments have had a predictable effect on the price of AVAX, which recently almost reclaimed its all-time high of roughly 59 dollars.
“There are a few reasons why it didn’t quite manage it and one of these is AVAX’s aggressive vesting schedule. Another is the possibility that AVAX is considered a security,” the analyst says.
When it comes to how high AVAX could go, the crypto KOL thinks $100 is a realistic expectation for an end-of-year target.
“However, it’s worth pointing out that we will probably see a bit of front running going on, like people selling slightly before that significant $100 price point. This makes $80 to 490 a safe sell range.”
Yet, he says that it’s possible AVAX could rise much higher than that but this ultimately depends on what Avalanche has planned for the coming months.
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