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The Avalanche price jumped 13% in the last 24 hours to trade at $26.20 as of 00:44 a.m. EST, with trading volume surging 43% to $464 million. This comes as one of the largest asset managers in the industry, Grayscale, expands its crypto offering by launching an Avalanche (AVAX) trust. The fund will allow accredited investors to gain exposure to the cryptocurrency. We are proud to announce the creation of a new single-asset crypto investment fund, available through private placement: Grayscale Avalanche Trust $AVAX. Available to eligible accredited investors. Read the press release: https://t.co/XwKfjPD9Tw pic.twitter.com/HdzlNfwkQ8 — Grayscale (@Grayscale) August 22, 2024 Avalanche Price To Continue Soaring The Avalanche bears capitalized on the death cross at $27.45 to exert pressure on the price at the beginning of August, according to data from GeckoTerminal . However, the bulls later found support at $19.94, which then allowed the price to soar back to the $26.61 r...

Time and again, protocols like Solana , Avalanche and Cardano have been dubbed as “Ethereum killers”. During 2021’s bull run, many from the space advocated that these protocols and their respective tokens would thrive. However, with the macro bear run materializing in 2022, that narrative started losing fizzle. Polygon’s Co-Founder Sandeep Nailwal recently appeared in an interview with Crypto Banter. Talking on similar lines, he opined that there wouldn’t be a “multi-Layer 2 environment.” Instead, he said, there’d be only “one single” Layer 1 — Ethereum, on top of which other Layer 2 user activities will take place. To a question on if he believed Solana , Aptos, Cardano , or Avalanche will eventually become “very small” and lose their relevance when compared to Ethereum, he said: “Yeah, Yeah. If you see even now, everybody’s [been] there for the last two years, and I don’t see ...

From the macro perspective, Bitcoin Lightning Network’s capacity has consistently been inclining. In the beginning of Q4 last year, it surpassed the 5k mark, while it now stands at 5,220.59 BTC. For context, in January 2021, the capacity was hovering around 1k BTC. This means, the growth to the current $108.6 million mark has been achieved in just two years. Like shown below, the capacity acceleration picked up pace in mid-2022 when Bitcoin was attempting a recovery. Even though Bitcoin failed to progress on the price front, the Lightning Network kept growing, making the case for increased adoption. In the most basic essence, the Lightning Network aids users to send and receive Bitcoin faster with lower fees. The higher capacity, the better, for it connotes to more liquidity. Alongside the depicted growth, people from the space have been bullish on Bitcoin’s L2 technology. A couple of weeks back, the Executive Chairman of MicroStrategy, Michael Saylor, revealed th...