Avalanche is a scalable, open-source ecosystem designed for building DeFi applications and deploying enterprise blockchains.

Avalanche uses its unique structure to solve blockchain problems related to achieving scalability, interoperability, and usability. Developers can create custom blockchains for specific applications and benefit from the platform's revolutionary consensus.

Snowman consensus protocol is a combination of Nakamoto consensus and classical consensus. Thus, it combines the advantages of both systems, i.e. reliability, scalability and decentralization of Nakamoto, with the speed and efficiency of the classical protocol.

Avalanche has three different blockchains:

• The exchange chain ( X-Chain ) is used to manage digital assets. These assets may have different sets of rules governing their behavior, fees are paid in AVAX .

• The contract chain ( C-Chain ) is compatible with smart contracts. Developers can create smart contracts for DApps . This chain allows developers to use EVM -compatible DApps as it uses a variant of the Ethereum Virtual Machine .

• The platform chain ( P-Chain ) is used to coordinate network validators. It also keeps track of subnets or can create new subnets that act as group validators and provide consensus for individual blockchains.

You can read more about the technical aspects of the Avalanche ecosystem on their official website and in their Whitepaper .

As of October 17, 2023, the AVAX token  is trading at ~ $9.15 . The asset lost more than 90% of its ATH (All Time High) in price

The chart shows that the asset is trading within the previously formed inefficiency (blue zone). In addition to this, we also see that the asset price removed liquidity from equal minimums ( EQL ) and reached the value of 0.705 OTE grid .

Based on these data, you can model the expected directions of movement of the asset price in the future:

• Removing liquidity from equal lows ( EQL ), closing inefficiency (blue zone), as well as the 0.705 OTE grid level are strong arguments in terms of providing a level of support for the price, as a result of which the price may reverse to close the weekly OB (red zone) and equal maxima ( EQH ).

• The above arguments may not have any effect on the asset price if the general market situation is negative. In this case, we should expect the price to go lower to close the lower inefficiency (blue zone) and remove liquidity from ~ $2.74 .

Avalanche is an infrastructure blockchain and offers its own scalable platform, a method for solving consensus, smart contracts and blockchains.

This classifies Avalanche as a Tier 1  project by area of ​​destination.

Avalanche  has a market capitalization of over $3,250,000,000 .

This classifies Avalache as a Tier 1  capitalization project.

Avalanche received financial support in the amount of $285,000,000  following several rounds of funding. The following funds can be distinguished among investors:

• a16z (Andreessen Horowitz)

• Polychain Capital

• Fundamental Labs

• Dragonfly Capital

This classifies  Avalanche  as a Tier 1  project in terms of investment amount and quality of investment funds.

Avalanche has its own Twitter account . Their  twitter  account has over  960,000  followers.

Avalanche has changed the name of its twitter account (the old name was @AvalancheAVAX ), so the twitterscore resource is experiencing problems with comparing data on the quality of the twitter account.

Based on the data obtained, despite the lack of data on  twitterscore , the Avalanche project can be classified   as  Tier 1  by its  twitter  community.

Total supply:  720,000,000

Sales volume:  354,774,418 (49.27%)

Market capitalization at an asset price of  $9.15 : ~ $3,252,612,425

Market capitalization at an asset price of  $145.85  (ATH): ~ $32,383,507,363

Total Frozen Liquidity (TVL): ~ $494,340,000

Number of implemented protocols based on the Avalanche blockchain (according to  defillama ): 303

Emin Gün Sirer - Co-Founder & CEO of the Avalanche project . Previously, he was engaged in professorial activities, in particular, at Cornell University .

Kevin Sekniqi - Co-Founder & COO of the Avalanche project . Previously, during his undergraduate and graduate studies, he was engaged in research activities at Microsoft and Nasa .

John Wu - President of the Avalanche project . Previously, he held the positions of general director ( CEO ) and analyst in various companies.

Lee Schneider - General Counsel of the Avalanche project . Previously, he held the position of General Counsel at block.one , and is also a Co-Founder at Genesis Block .

Chris Lavery is the CFO of the Avalanche project . Previously, he held the position of Vice President in the blockchain.com project .

Avalanche  has its own  GitHub  account, consisting of 108 repositories. The commit graphs show that the project is actively developing.

According to the Developer Report resource,   you can also confirm active development of the project.

Avalanche has its own discord server. It has approximately 4,500 members.

The channel has various chat, support, and news threads. In these chats you can regularly observe communication between server members.

Avalanche has its own telegram channel. It has more than 34,000 members.

The channel often publishes various news related to the project. It can also be noted that among users one can often observe communication in different region-specific chats.

Based on the basic  On-Chain  metrics  of Santiment SanBase,  we will focus on the following points:

• The drop in open interest (yellow chart) on April 25, 2023 affected the price of the asset (green chart) AVAX more strongly, relative to BTC and ETH . As a result, we can observe an enhanced development of the downward trend.

• The repeated drop in open interest (yellow chart) on August 17, 2023, which can be more clearly observed on the BTC charts , influenced it by the emergence of a local upward trend. Due to the dominant position of BTC in the market (~ 50% of the total capitalization), it can be assumed that the price of the AVAX asset is also forming a positive trend. This assumption can also be supported by technical analysis data (section Base Analytics ).

The sharp drop in asset data on September 17, 2023 occurred due to the use of the free version of Santiment SanBase .

Apart from standard accumulation and holding the coin in anticipation of further growth, our assets can be made to work. This will allow you to get additional profit without active participation.

To implement this idea, you should plunge into the field of DeFi protocols, in our case based on Avalanche .

AVAX tokens can be liquid staking on the Benqi protocol . As a result of such staking, we receive a synthetic asset - sAVAX . Advantages of a synthetic token:

• Tied to the price of a natural asset ( AVAX ), but every year it becomes slightly more expensive relative to it. In this scenario, we receive ~ 5.96% per annum on our deposit amount.

• A synthetic asset can be withdrawn from staking at any time by exchanging it for a natural one ( AVAX ).

• The synthetic asset can also be sent, for example, to a lending protocol or liquidity pool. This will allow us to further increase the existing ~ 5.96% per annum.

Avalanche is a fundamental open source ecosystem that offers a platform for implementing subnets and blockchains, with its own consensus method. Many DeFi protocols and closed corporate blockchains are built on this platform.

Avalanche has a large active community and trust from investors. Based on this, we can assume that the project has every chance of showing good growth in the future bull and overcoming the current All Time High (~ x15 - x20 ).

Conventionally, if you buy the AVAX token at the bottom of the market, in the amount of $1,000 , at the maximum values ​​of the uptrend you can lock in a profit of ~ $15,000 - $20,000 .

I advise you to follow this project.