{"id":67720,"date":"2023-06-13T17:16:29","date_gmt":"2023-06-13T11:46:29","guid":{"rendered":"https:\/\/mudrex.com\/blog\/?p=67720"},"modified":"2023-06-13T17:16:31","modified_gmt":"2023-06-13T11:46:31","slug":"coin-of-the-day-avax","status":"publish","type":"post","link":"https:\/\/mudrex.com\/blog\/coin-of-the-day-avax\/","title":{"rendered":"Coin of the Day- AVAX"},"content":{"rendered":"\n<p>Today we are talking about a coin that\u2019s the Usain Bolt of cryptocurrencies. Its blockchain can process up to 4500 transactions per second. Yes, we are talking about Avalanche!<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\" id=\"h-day-10-avalanche-avax-coin-of-the-day-report\"><strong>#Day 10 &#8211; Avalanche (AVAX) Coin Of The Day Report<\/strong><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396875-901x1024.png\" alt=\"\" class=\"wp-image-67726\" width=\"451\" height=\"512\" srcset=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396875-901x1024.png 901w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396875-264x300.png 264w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396875-768x873.png 768w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396875.png 966w\" sizes=\"(max-width: 451px) 100vw, 451px\" \/><\/figure><\/div>\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>AVAX Score<\/strong><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Bar-10-1024x288.png\" alt=\"\" class=\"wp-image-67727\" width=\"512\" height=\"144\" srcset=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Bar-10-1024x288.png 1024w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Bar-10-300x84.png 300w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Bar-10-768x216.png 768w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Bar-10.png 1264w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/figure><\/div>\n\n\n<p>In a very short time, Avalanche has gained a lot of momentum by enabling high-speed transactions and near-instant transaction confirmations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>How Did We Arrive at This Score?<\/strong><\/h2>\n\n\n\n<p>We evaluated Avalanche on the following parameters.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:17px\">1. <strong>Price<\/strong> <strong>Performance \u2705<\/strong><\/h3>\n\n\n\n<p>Though past price movements don\u2019t necessarily dictate future prices, it\u2019s good to know how your investments have performed historically.<br><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964158-1024x862.png\" alt=\"\" class=\"wp-image-67728\" width=\"512\" height=\"431\" srcset=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964158-1024x862.png 1024w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964158-300x253.png 300w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964158-768x647.png 768w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964158.png 1356w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/figure><\/div>\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:17px\"><br>2. <strong>Fundamental Analysis \u2705<\/strong><strong><br><\/strong><\/h3>\n\n\n\n<p>In this section, we evaluate the Avalanche network based on critical on-chain metrics.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" style=\"font-size:17px\"><strong>2.1. Active Addresses Count<\/strong><\/h4>\n\n\n\n<p>Active address count indicates the overall activity on the network. A growing active address count signals a growing network and positively impacts the network token&#8217;s price.<\/p>\n\n\n\n<p><br>Average monthly active addresses on the Avalanche network went from ~ 700k in 2021 to around 4M in 2023 at an annual growth rate of 139%.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" style=\"font-size:17px\">2.2. <strong>NVT Ratio<\/strong><\/h4>\n\n\n\n<p><strong>\ud83d\udca1NVT Ratio:<\/strong> The NVT ratio compares a cryptocurrency&#8217;s market cap to its transaction volume. A high ratio suggests a potential bubble since the market cap is outpacing the transaction volume. A low ratio indicates an undervalued token.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964159-1024x240.png\" alt=\"\" class=\"wp-image-67729\" width=\"512\" height=\"120\" srcset=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964159-1024x240.png 1024w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964159-300x70.png 300w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964159-768x180.png 768w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964159-1536x360.png 1536w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964159.png 1669w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/figure><\/div>\n\n\n<p><em>P.S. The NVT ratio for each cryptocurrency varies. Also, one shouldn\u2019t look at NVT in isolation and must always combine it with other indicators.&nbsp;<\/em><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" style=\"font-size:17px\"><strong>2.3. Blockchain Network Profitability <\/strong><\/h4>\n\n\n\n<p>We measure blockchain network profitability by deducting the net incentives given to network participants, like miners and validators, from the net income generated by the platform.<\/p>\n\n\n\n<p><br>A majority of the Avalanche network\u2019s expenses are accounted for by token incentives. In May 2023, it was at a deficit of $81.33M.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:17px\">3. <strong>Community<\/strong> <strong>Sentiment<\/strong><\/h3>\n\n\n\n<p>The below pie chart measures the sentiment for Avalanche across Telegram and Twitter. Over the last 7 days, Avalanche was mentioned ~22k times, of which ~5.1k mentions were positive, ~800 were negative, and about 16.1k were neutral.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396874-1-1024x629.png\" alt=\"\" class=\"wp-image-67730\" width=\"512\" height=\"315\" srcset=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396874-1-1024x629.png 1024w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396874-1-300x184.png 300w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396874-1-768x472.png 768w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/21396874-1.png 1069w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/figure><\/div>\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:17px\">4. <strong>Technical Analysis \u2705<\/strong><strong><br><\/strong><\/h3>\n\n\n\n<p><strong>Oscillators:<\/strong> They suggest a buy signal when an asset is oversold, indicating that the security may be underpriced and vice versa.<\/p>\n\n\n\n<p><strong>Moving Averages: <\/strong>When a short-term moving average crosses above a long-term moving average indicator, it suggests that the trend is bullish and vice versa.<br><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"357\" src=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964155-1024x357.png\" alt=\"\" class=\"wp-image-67731\" srcset=\"https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964155-1024x357.png 1024w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964155-300x105.png 300w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964155-768x268.png 768w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964155-1536x536.png 1536w, https:\/\/mudrex.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-480964155-2048x715.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<p><br><br>\ud83d\udca1Oscillators indicate that AVAX may be underpriced, and moving averages suggest active selling of the token.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Key Highlights<\/strong><br><\/h2>\n\n\n\n<ol>\n<li>Q1 2023 saw Avalanche\u2019s market cap rebounding with a 65.8% quarter-over-quarter (QoQ) increase.<\/li>\n\n\n\n<li>Avalanche partnered with some major mainstream players like AWS and Tencent Cloud to accelerate the development and adoption of its ecosystem.<\/li>\n\n\n\n<li>Developments on the blockchain, like the launch of HyperSDK, Glacier API, and integration with The Graph, were carried out to usher in developers.<\/li>\n<\/ol>\n\n\n\n<p><br><em>Disclaimer: None of the information in the email is intended to be financial advice. Please do your own research before making any investments.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today we are talking about a coin that\u2019s the Usain Bolt of cryptocurrencies. Its blockchain can process up to 4500 transactions per second. Yes, we are talking about Avalanche! #Day 10 &#8211; Avalanche (AVAX) Coin Of The Day Report AVAX Score In a very short time, Avalanche has gained a lot of momentum by enabling [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":67733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[1082],"tags":[],"_links":{"self":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/posts\/67720"}],"collection":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/comments?post=67720"}],"version-history":[{"count":1,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/posts\/67720\/revisions"}],"predecessor-version":[{"id":67734,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/posts\/67720\/revisions\/67734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/media\/67733"}],"wp:attachment":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/media?parent=67720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/categories?post=67720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/tags?post=67720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}