– Avalanche [AVAX] announced its partnership with the Indian game streaming platform Loco, to launch an NFT marketplace for Esports fans.
– AVAX increased by over 16% over the last week, faced key resistance level at press time.
– Avalanche’s NFT activity lacks consistency and is reflected in its Key Performance Indicators like transaction fees and daily active users.
Avalanche Partners With Loco To Launch NFT Marketplace
Avalanche [AVAX] recently announced a partnership with the Indian game streaming platform Loco, to launch an NFT marketplace for Esports fans titled Loco Legends. The metaverse platform will allow users to collect and trade digital collectibles of Esports superstars, bringing 50+ million users to Avalanche with this move. The GameFi industry vertical has been one of the fastest growing in the cryptocurrency sector, with this deal adding another high-profile project to Avalanche’s expanding ecosystem.
AVAX Price Increases Over Last Week
AVAX saw an increase of over 16% over the last week according to data from CoinMarketCap. At press time, it faced resistance at the important level of $20.14 which was visited twice in the past month.
NFT Activity Lacking Consistency
The latest weekly highlights report from Avalanche showed Crabada recording sales of over 2400 in the last seven days; Santiment data also demonstrated that NFT trade volume more than tripled while total number of transactions rose as well. However, there have been inconsistencies seen with NFTs as there are days when volumes see a sharp uptick possibly reacting to major launches or partnerships but trading activity dips considerably afterwards too. This lack of consistency can be witnessed in other metrics such as daily active users and transaction fees as well according to Token Terminal readings for these two metrics across a seven day period.
Realistic Forecast For AVAX Market Cap In BTC Terms
Realistic or not, it can be predicted that AVAX market cap could reach levels similar to Bitcoin terms if current trends continue and key resistance levels are broken through successfully as seen at press time recently where AVAX faces resistance at $20.14 mark previously visited twice in a month’s span according CoinMarketCap data showing growth trends over last week periods being positive overall too .
Conclusion
To conclude it can be said that due to its expanding GameFi ecosystem following latest deals such as one with Loco Legends ,Avalanche [AVAX] has gained traction among investors leading towards recent growth trends and potential for further appreciation if key Resistance levels are broken through successfully .