AVAX Soars 153% In One Month, Price Targets To Reach $50?

<p>&nbsp;"The price increase by AVAX is not normal, whoever holds it must be happy, right?"</p><p><br /></p><p>Avalanche (AVAX) is one of the best performing cryptocurrencies right now as its price managed to climb over 153% in a month to reach its all-time high for the year at $42.79.</p><p><br /></p><p>It's true that AVAX hasn't made much of a move for most of the year, but its price started gaining traction in November and December 2023 when the entire crypto market was in bullish momentum.</p><p><br /></p><p>Through observation, AVAX's total locked value (TVL) since September 12, 2023 has seen an 82% climb from $490 million to $894 million and at the same time, its trading volume has also increased by 2,436%.</p><p><br /></p><p><br /></p><p>Therefore, some analysts really believe that AVAX's recent price surge may be due to its recent partnership with JPMorgan and Citi which also caused its daily active address to be in a strong upward trend.</p><p><br /></p><p>Many expect AVAX to make a price correction soon, but some analysts say the price has already hit lows before its latest surge, so the digital asset may try to continue its rally higher.</p><p><br /></p><p>So here it can be seen that there is a possibility that AXAX can continue to see a follow-up surge from its cooperation with some of the most important financial institutions in the world, therefore analysts forecast its price now to target to reach $50 anyway.</p><p><br /></p><p>As of this writing, AVAX price is up 9.39% at $38.81 in the last 24 hours with a market capitalization of $14 billion and has recorded a 48.01% increase over the last week.</p>