{"id":328220,"date":"2021-08-20T23:45:00","date_gmt":"2021-08-20T20:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3-reasons-why-avalanche-avax-price-is-up-200-this-month\/"},"modified":"2021-08-20T23:45:00","modified_gmt":"2021-08-20T20:45:00","slug":"3-reasons-why-avalanche-avax-price-is-up-200-this-month","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-avalanche-avax-price-is-up-200-this-month\/","title":{"rendered":"# 3 reasons why Avalanche (AVAX) price is up 200% this month"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4164e806ca1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4164e806ca1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-avalanche-avax-price-is-up-200-this-month\/#Avalanche_Rush_expands_the_DeFi_ecosystem\" >Avalanche Rush expands the DeFi ecosystem<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-avalanche-avax-price-is-up-200-this-month\/#Ethereum_bridge_facilitates_asset_migration\" >Ethereum bridge facilitates asset migration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-avalanche-avax-price-is-up-200-this-month\/#Transaction_burning_improves_AVAX_tokenomics\" >Transaction burning improves AVAX tokenomics<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># 3 reasons why Avalanche (AVAX) price is up 200% this month <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Layer-one blockchain networks like Bitcoin (BTC) and Ethereum (ETH) form the foundation of the cryptocurrency ecosystem and enable smart contract functionality that has allowed the creation of new industries like decentralized finance (DeFi) and nonfungible tokens (NFT).<\/p>\n<p>Avalanche (AVAX) is a relatively new layer-one solution that has recently seen a significant increase in price and adoption as the dominant smart-contract platform (Ethereum) continues to struggle with high transaction costs and slower processing times than its competitors. <\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/AVAXUSDT\/\">TradingView<\/a> shows that after hitting a low of $12.24 on Aug. 3, the price of AVAX rallied 205% to a multi-week high at $37.42 on Aug. 20 as its 24-hour trading volume surged to more than $1.4 billion. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/217e0fe9-ee63-4831-8f47-2386ab105ac6.png\"><figcaption style=\"text-align: center;\"><em>AVAX\/USDT 4-hour chart. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/AVAXUSDT\/\">TradingView<\/a><\/em><\/figcaption><\/figure>\n<p>Three reasons for the significant price growth from AVAX are its rapidly expanding DeFi ecosystem, the release of the Avalanche bridge to Ethereum and the protocol\u2019s unique tokenomic design that offers dynamic fees and a token burn mechanism. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Avalanche_Rush_expands_the_DeFi_ecosystem\"><\/span>Avalanche Rush expands the DeFi ecosystem<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One of the biggest developments to h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en for the Avalanche protocol was the announcement of Avalanche Rush on Aug. 18, a $180 million liquidity mining incentive program launched in conjunction with Aave and Curve that is designed to introduce more applications and assets to its growing DeFi ecosystem. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Experience the power of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\">#Avalanche<\/a>. Welcome to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/AvalancheRush?src=hash&amp;ref_src=twsrc%5Etfw\">#AvalancheRush<\/a>, the $180M liquidity mining incentive program in collaboration with leading DeFi dapps\u2013both on and off Avalanche\u2013 starting with <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AaveAave?ref_src=twsrc%5Etfw\">@aaveaave<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CurveFinance?ref_src=twsrc%5Etfw\">@curvefinance<\/a>. And, this is just Phase 1! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/YGrrVB7Uqc\">https:\/\/t.co\/YGrrVB7Uqc<\/a><\/p>\n<p>\u2014 Avalanche  (@avalancheavax) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/avalancheavax\/status\/1427994599847563265?ref_src=twsrc%5Etfw\">August 18, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Phase 1 of the Rush program is set to begin in the near future and\u00a0 will allow AVAX to be used as liquidity mining incentives for Aave and Curve users over a 3 month period. <\/p>\n<p>A total of $27 million worth of AVAX has been set aside by the Avalanche Foundation to fund the incentive program with additional allocations planned for phase 2. <\/p>\n<p>The program was designed to demonstrate the Avalanche Foundation\u2019s commitment to scaling DeFi on the network and helping to \u201ccreate a more accessible, decentralized, and cost-effective ecosystem.\u201d<\/p>\n<p>Evidence of the growth of DeFi on the Avalance network can be found in the increasing total value locked (TVL) in protocols on the network, such as Pangolin and Benqi Finance which recently <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/pangolindex\/status\/1428593798414622726\">surpassed<\/a> a TVL of $300 million. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_bridge_facilitates_asset_migration\"><\/span>Ethereum bridge facilitates asset migration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A second reason for the bullish growth seen in the Avalance ecosystem over the past few weeks is the release of the Avalanche Bridge (AB) on July 29. This &#8220;next-generation cross-chain bridging <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>\u201d enables the transfer of assets between the Avalanche and Ethereum networks. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Avalanche Bridge (AB) launched just 3 weeks ago.<\/p>\n<p>Today, AB officially transferred over $100M in tokens to and from Ethereum.<\/p>\n<p>Interested in using high-performance DeFi apps, with low transaction fees? Transfer your assets, and try <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\">#Avalanche<\/a> DeFi! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/UAY69mSUgW\">https:\/\/t.co\/UAY69mSUgW<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FrN69Ev7pA\">pic.twitter.com\/FrN69Ev7pA<\/a><\/p>\n<p>\u2014 Avalanche  (@avalancheavax) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/avalancheavax\/status\/1428369360368783371?ref_src=twsrc%5Etfw\">August 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As shown in the above tweet, in the three weeks since the AB was launched, it has transferred more than $100 million in token value between the two networks as holders seek lower-fee environments to conduct their transactions. <\/p>\n<p>The AB is estimated to be five times cheaper than the previous Avalanche-Ethereum Bridge (AEB) and it is purported to offer a \u201cbetter user experience than any cross-blockchain bridges launched to-date.\u201d<\/p>\n<p>If Ethereum is unable to get a handle on high transaction costs in the near future, there is a good chance that assets and liquidity will continue to migrate to chains like Avalanche as their DeFi ecosystems grow in size and value. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Avalanche (AVAX) in &#8216;overbought&#8217; zone after 100% gains in a week \u2014 Correction ahead?<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Transaction_burning_improves_AVAX_tokenomics\"><\/span>Transaction burning improves AVAX tokenomics <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A third reason for the increasing interest in the Avalanche network is the protocol\u2019s unique tokenomic structure that includes a transaction fee burning mechanism that helps reduce the circulating supply over time. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\">#Avalanche<\/a> burns all transaction fees.<\/p>\n<p>See how much has been burned so far! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/LpxU9dtyXy\">https:\/\/t.co\/LpxU9dtyXy<\/a><\/p>\n<p>\u2014 Avalanche  (@avalancheavax) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/avalancheavax\/status\/1428733866450227207?ref_src=twsrc%5Etfw\">August 20, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As noted in the above tweet, all fees on Avalanche are burned for the benefit of everyone in the community as the hard-capped supply of 720 million AVAX is guaranteed to decrease over time. This could help increase the value of the remaining tokens in circulation. <\/p>\n<p>At the time of writing, more than 163,000 AVAX have been burned, a figure which increases more rapidly as more users transact on the network. <\/p>\n<p>The network\u2019s fee mechanism is also set to undergo an upgrade to Apricot phase three which will introduce C-Chain dynamic fees on Aug. 24. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u2b50Apricot Phase Three: C-Chain Dynamic Fees<\/p>\n<p>Apricot Phase Three upgrade will activate on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/avalancheavax?ref_src=twsrc%5Etfw\">@Avalancheavax<\/a> Mainnet at 7 a.m EDT (11 a.m UTC) on Tuesday, August 24th<\/p>\n<p>Get more info: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/XDS91iR4jD\">https:\/\/t.co\/XDS91iR4jD<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\">#Avalanche<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$AVAX<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/eJV0pVPbf3\">pic.twitter.com\/eJV0pVPbf3<\/a><\/p>\n<p>\u2014 AVAX Daily (@AVAXDaily) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AVAXDaily\/status\/1427172287527018499?ref_src=twsrc%5Etfw\">August 16, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The new integration will allow for the addition of a time-based, rolling window fee calculation, a capped fee range of 75\u2013225 nAVAX and a block gas limit of 8 million gas. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/3-reasons-why-avalanche-avax-price-is-up-200-this-month\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# 3 reasons why Avalanche (AVAX) price is up 200% this month &#8221; Layer-one blockchain networks like Bitcoin (BTC) and Ethereum (ETH) form the foundation of the cryptocurrency ecosystem and enable smart contract functionality that has allowed the creation of new industries like decentralized finance (DeFi) and nonfungible tokens (NFT). Avalanche (AVAX) is a relatively&#8230;<\/p>\n","protected":false},"author":1,"featured_media":328221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvNjAzNTQ4ZTItYzVhNi00NTFhLThiZjUtN2IwOWY3Y2ZlMmMxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,74868,74891,75434,73785],"class_list":["post-328220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-defi","tag-ethereum","tag-smart-contracts","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/328220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=328220"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/328220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/328221"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=328220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=328220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=328220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}