Avalanche is one of the coins that did great last year. On January 1, 2021, you could get 1 AVAX for $3.20. Over 11 months later, on November 23, 2021, 1 AVAX cost about $134.50. That’s an increase of a whopping 4,103.13%. This makes it one of the best performing coins of 2021.
However, towards the end of last year, AVAX, along with the entire crypto market, dropped quite a bit. In January, on January 22 to be exact, a new low took place for AVAX, when it reached $55.15. That’s a drop of 59%. Since then, AVAX seems to have resumed the road to all time highs. In fact, in 16 days, AVAX has risen 65%.
With a price of about $85, the old all-time high is far from being reached, but AVAX is well on its way again. Historically, February is often a good month for the crypto market, so who knows, the old all-time high might be broken again.
Avalanche on the rise
Fundamentally, it is difficult to give a logical explanation for the abrupt decline and then rise. Fundamentally, little has changed in the meantime. Confidence in the crypto market, as a whole, had been gone for a while in the last two months and this caused the entire market to be in the red. Now that confidence has returned a bit, you also see that projects that performed well last year are now doing well again.
Do you have confidence in AVAX and would you like to invest in it? You can! AVAX is available through many different exchanges. For example, AVAX can be purchased through Huobi. You can own your first AVAX within minutes!