Over the past week, the AVAX cryptocurrency, the native token of the Avalanche blockchain platform, has shown significant growth. Its value has increased by 84%, with an 11% rise in just the last 24 hours. The current price of AVAX is $40.68. This surge has allowed AVAX to enter the top ten largest cryptocurrencies by market capitalization, even surpassing the well-known meme coin Dogecoin.
Analysts note an increase in the volume of large transactions with AVAX, indicating positive prospects for investors. However, experts, including Ruslan Linkh from YouHodler, suggest that the growth of AVAX may be short-term. In his view, AVAX correlates with major cryptocurrencies like Bitcoin and is likely to follow their trends.
Additionally, there was recently the launch of a new governance token, JITO, on the Solana blockchain. This event garnered significant interest, with a total trading volume exceeding $1.1 billion on the first day. The developers distributed 80 million tokens among community and protocol participants.
The discussion also includes two tokens related to the Canadian company Geometric Energy Corporation. This company plans to launch the DOGE-1 lunar satellite in January, using a SpaceX rocket. This event also spurred increased interest in related cryptocurrencies.
