The first quarter sees an increase in market activity for cryptocurrencies like Avalanche, Hedera, and BlockDAG. Let's explore what's happening with these currencies and how it may impact their future.
Avalanche Struggles: Testing $35 Support Level
Avalanche’s price is currently testing the crucial $35 support level. If this support fails, a decline to approximately $28.50 is possible. On-chain activity indicators, such as increased total value locked (TVL) and active addresses, suggest potential demand for AVAX in the long run. However, a slowdown in project development since mid-2024 is a possible concern.
Hedera Transaction Volume Surges Amid Strategic Alliances
Hedera's transaction volume has increased tenfold over the past month, driven by stablecoin adoption and a strategic partnership with Worldpay, a major payment processor. Hedera's ability to handle large transactions cost-effectively positions it to capitalize on current trends. While HBAR’s price has experienced some volatility, the outlook remains positive.
Inter Milan Partnership Spurs BlockDAG Adoption
BlockDAG’s ongoing alliance with Inter Milan introduces blockchain technology to a worldwide audience. Using Inter Milan's extensive fan base, BlockDAG has significantly increased blockchain engagement, establishing itself as a pioneering Layer 1 blockchain. This collaboration has been key to the success of BlockDAG's presale, which has amassed $191.5 million.
Avalanche's current price movement at the $35 support level is essential for regaining positive momentum. The increase in Hedera's transaction volume, supported by the stablecoin market, suggests significant growth potential. BlockDAG's partnership with Inter Milan aids its global recognition and advances blockchain technology.
