Avalanche (CCC:AVAX-USD) was one of few survivors after an apparent altcoin purge left many cryptocurrencies out in the cold. That is, before a strong afternoon recovery that has the whole sector singing carols. Despite falling as much as 11% early in the day, the AVAX crypto is back with a vengeance heading into the evening. Avalanche is currently up more than 5% on the day. Avalanche price predictions are flying following the promising gains.
What’s going on with the resilient altcoin?
Altcoins across the board were hit early today as cryptos like Algorand (CCC:ALGO-USD) and Cosmos (CCC:ATOM-USD) also fell nearly 10% this morning. But, as you may have heard, cryptos are volatile. ALGO and ATOM are now each up less than a percent on the day after an expeditious recovery. It seems all three coins have turned their fortunes around.
Reasonably so. Avalanche is likely up on good news for the crypto after a promising message from finance platform Circle. Today, Circle announced native support for stable coin USD Coin (CCC:USDC-USD) on the Avalanche blockchain.
Jeremy Allaire, CEO and co-founder of Circle, elaborated on the significance of the move.
“Support for USDC on Avalanche comes at an exciting and pivotal moment for the growing, multi-billion dollar DeFi market. With USDC as the leading dollar digital currency for the decentralized economy, this integration will be instrumental for developers and communities looking to participate in one of the fastest, organically growing ecosystems in crypto.”
With all the momentum behind AVAX, let’s see where the experts think it’s headed. For reference, AVAX is currently sitting at $82.67.
Avalanche Price Predictions: Will the AVAX Crypto Reach the Summit?
- WalletInvestor sees AVAX as a steady but rapid climber. It sees Avalanche hitting $120.53 within two weeks and $231.29 after two years.
- CoinPriceForecast is similarly optimistic on the altcoin. It foresees Avalanche getting to $102.04 by the end of the year and $286 by the end of 2022.
- The Deep Learning algorithm at Gov Capital is just as bright eyed on AVAX. It has a one-year forecast of $263.94 and a five-year forecast of $2,097.16.
On the date of publication, Shrey Dua did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.