Avalanche’s AVAX token rallies 18% in Last 24 Hours despite crypto market downtrend

Avalanche’s native token AVAX has surged over 18% in the past 24 hours despite a sharp downturn for the cryptocurrency market.
Avalanche's AVAX token rallies 18% in Last 24 Hours despite crypto market downtrend

On December 12, despite a discernible decline in the cryptocurrency market, Avalanche’s AVAX token saw a rise of more than 18% on the previous day.

AVAX has gained a staggering 155% over the last month, and 86% over the last seven days. According to Coinmarketcap’s market data, the native token of the Avalanche blockchain is presently trading at $42.5.

AVAX 1D graph coinmarketcap ff1
Avalanche (AVAX) token price – Coinmarketcap

Avalanche has surpassed all other top blockchain and layer 2 networks in terms of the biggest cumulative transfer totals, with almost 1,000 transactions last week totaling more than $100,000.

According to a Dune dashboard, the total amount moved has only increased Avalanche’s genesis block.

In addition, Avalanche (AVAX) has been among the top-performing blue-chip investments over the last seven days, despite a significant drop on Monday that sent Bitcoin below $41,000 and increased market volatility.

The significant increase in AVAX’s value can be linked to a factor that highlights its growing significance in real-world asset (RWA) tokenization following the announcement by JPMorgan and Apollo that they would be utilizing Avalanche to test tokenization.

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