With the latest developments in the Avalanche ecosystem, can AVAX hit a new support resistance level?
The recent development in the core browser extension and its support for custom avax subnets has made it compatible with ETH and EVM chains as well. With this update, users can seamlessly access their cross-chain assets, along with this they can easily navigate through their favorite decentralized apps across the networks.
Users now have the facility to bridge, view or transfer their assets across multiple blockchain networks. As per some reports, the Avalanche ecosystem has hit around 1.5M transactions in all-time daily high metric, when it hit around $30. Since then, its price has fallen about 10.6% this week. But it may hit a new support level as soon as the market sentiments improve.
Did you know that @CoreApp is EVM compatible? You can now interact with the Ethereum network using Core, or bridge ETH to the #Avalanche ecosystem directly in the app.
— Avalanche 🔺 (@avalancheavax) August 16, 2022
Here's how to do it ⬇️ https://t.co/6kdKVFnPyM pic.twitter.com/lAUoa7zpe7
As of now, at the time of writing this article, AVAX stands at #13 on CoinMarketCap and is trading at $26.65 with a marketcap of $7.6B.
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