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Avalanche releases new Banff4 update; analyzing the effects on AVAX

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Avalanche released a new network update that came with several upgrades AVAX’s volume went up last week, but sales declined Avalanche [AVAX] released its latest network update on 10 December, which brought several upgrades to the blockchain. The new update, named Banff 4, came with new network optimizations to reduce the node’s bandwidth usage and […]

, at press time, AVAX was trading at $13.44 with a market capitalization of over $4.1 billion. A look at AVAX’s on-chain metrics gave a better understanding of what went wrong last week.Surprisingly, Santiment’s chart revealed that despite massive gains in volume, AVAX’s volume consistently decreased over the last week. Not only that, AVAX also dipped in popularity, as its social dominance declined as well.’s development activity increased, but this can be attributed to the latest update.

Avalanche also received quite some interest from the derivatives market as its Binance funding rate went up after registering a decline on 8 December 2022.Subscribe to get it daily in your inbox.

 

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Betting on AVAX’s short-term bullish MACD crossover? Read this firstAVAX posted a short-term bullish MACD crossover It faced key resistance at the 38.2% Fib level ($13.506387) and could see a decline to $13.4181897 A decline in positive sentiment and development activity could undermine the bulls’ upside momentum At press time, Avalanche [AVAX] was trading at $13.4713635 and appeared to be on the verge of […]
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