Avalanche cryptocurrency AVAX is now one of the ten largest cryptocurrencies by market capitalization, beating the popular meme tokens Dogecoin and Shiba Inu, defying a market-wide crash that wiped out hundreds of billions of dollars in value and led to major cryptocurrencies such as bitcoin and ether. Saw a drop in prices. Almost record height.
AVAX was trading at around $134 on Monday morning, a jump of nearly 40% over the previous week, according to coingeco,
The rally reduced AVAX’s market cap to just under $30 billion, marginally overtaking Dogecoin as the tenth most valuable cryptocurrency.
AVAX’s rising value comes amid a market-wide crash that has seen most major tokens – including all top-ten cryptocurrencies that are not tied to other assets: Bitcoin, Ether, Binance Coin, Solana, Cardano, XRP and Polkadot – a double-digit percentage drop in the last seven days.
Token price soars after professional services firm Deloitte announced Last week plans to use Avalanche’s technology to build a better US disaster relief platform.
The price of AVAX has more than doubled in the last 30 days and is up over 3,000% over the year.