Avalanche is ramping up efforts to promote its blockchain platform by launching a new crypto card in partnership with Rain. This initiative targets users in regions with limited access to banking services.
New Phase for the Crypto World
The Avalanche blockchain is enhancing its influence through the release of a new crypto card. This card promises to simplify interactions with cryptocurrencies, including AVAX, USDT, and USDC, particularly for users lacking access to traditional banking. Payment solutions will be available both physically and digitally, easing access.
AVAX Price Dynamics: Risks and Opportunities
Amid the general decline in cryptocurrencies, AVAX dropped about 22% from its recent weekly high. Its price has fallen below November and prior support levels from September. Despite a price-RSI divergence, current conditions might offer opportunities for buyers.
Challenges in Securing AVAX Demand
Despite AVAX's attractive price levels, market sentiment remains fearful. Investment activity has cooled down, and large holders are increasing their positions only slightly. Derivatives volumes decreased by 38% in the last 24 hours, with net outflows of roughly $3.8 million in the spot market. The lack of sustained demand could lead to further price decreases below $18.
Avalanche's initiatives to improve crypto access could significantly impact the financial landscape for users. However, securing AVAX's market position requires increased demand and a stabilization of the current situation.
