USDC - Why Avalanche Crypto Roared Nearly 30% Higher This Week
One of the best-performing cryptocurrencies of late has been Avalanche (CRYPTO: AVAX) . This top token appreciated 28.4% at its weekly high, compared with last Friday's close. As of 9 a.m. ET today, this gain currently sits at 24.6%, meaning Avalanche has remained near its weekly highs during the latter part of this week.
These gains appear to be tied to two key news items this week. First, it announced it would be adding USD Coin (CRYPTO: USDC) to its network, a move Avalanche hopes will give this platform an upper hand in the decentralized finance (DeFi) market share race. Additionally, a bullish analyst note from Bank of America 's Alkesh Shah a week ago notes that Avalanche could become a viable competitor to Ethereum in the longer run.
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Why Avalanche Crypto Roared Nearly 30% Higher This Week