AVAX, which gained the most among the top 100 cryptocurrencies with the highest market value, experienced a remarkable rise. The price rose 13% to around $32.2. This positive trend also showed itself in the daily transaction volume. Volume nearly tripled to $829 million.

Currently ranked as the 11th largest cryptocurrency with a market value of $12.7 billion, AVAX is still far from its peak. Although it remains 78% below the record high of $146.2 reached in November 2021, the recent activity seems to revive confidence in the potential of the cryptocurrency market.

So, what triggered this rise in AVAX price? Avalanche’s story began to be written in the fall of 2020 by a team led by software engineer Emin Gün Sirer. Developed together with Kevin Sekniqi and Maofan “Ted” Yin, Avalanche debuted as a Layer-1 blockchain that supports smart contracts. It quickly positioned itself as a direct competitor to Ethereum.

However, the recent price increase is also due to the fact that the traditional gaming world has begun to integrate with the cryptocurrency market. An announcement dated July 19 appears as one of the important developments that triggered AVAX price movements.

Post-apocalyptic RPG game ChronosWorlds has announced that it has chosen Avalanche as its preferred blockchain platform. This partnership demonstrates the interest in blockchains from developers looking for powerful and scalable infrastructure for gaming applications. Avalanche seems to attract the attention of game developers with its safe and fast structure.

Not only the gaming world but also investor behavior affects the AVAX price. There have been some reports that large-scale investors, referred to as “whales,” have started to clamp down on cryptocurrency recently. This seems to have happened especially after AVAX bottomed out around $26. However, this situation, technically called a squeeze, may have been considered as a buying opportunity for some investors.

The positive trend in the overall cryptocurrency market also supports AVAX. The fact that Bitcoin gained 7% in value in the last week and the total market value increased to 2.44 trillion dollars indicates a general upward trend. This situation may increase investors’ risk appetite and lead them to turn to alternative cryptocurrencies.

Avalanche (AVAX) made investors happy with its recent 13% increase. Interest from the gaming world and investor behavior are important factors in the movement in the AVAX price.

Although it is behind its peak, Avalanche remains an important cryptocurrency to follow as blockchain technology becomes widespread in the gaming world in the future. It is important for investors to always conduct thorough research and consider risks before taking action.