{"id":626618,"date":"2023-04-07T15:52:38","date_gmt":"2023-04-07T20:52:38","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/07\/why-avax-could-dampen-investor-hopes-despite-avalanches-endeavors\/"},"modified":"2023-04-07T15:52:38","modified_gmt":"2023-04-07T20:52:38","slug":"why-avax-could-dampen-investor-hopes-despite-avalanches-endeavors","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/07\/why-avax-could-dampen-investor-hopes-despite-avalanches-endeavors\/","title":{"rendered":"Why AVAX could dampen investor hopes despite Avalanche\u2019s endeavors"},"content":{"rendered":"<div id=\"mvp-content-main\">\n<ul>\n<li><em>Avalanche is winning in enterprise adoption courtesy of its latest partnership in South Korea.<\/em><\/li>\n<li><em>AVAX delivers average rise indicating a lack of excitement around the news.<\/em><\/li>\n<\/ul>\n<p>The future just got a lot more promising for the <a href=\"https:\/\/ambcrypto.com\/avalanche-may-have-had-a-solid-q1-but-what-promise-does-april-hold\/\" data-wpel-link=\"internal\">Avalanche [AVAX]<\/a> blockchain network. This is because the network just jumped to the forefront of South Korea\u2019s WEB developments revealed in a recent announcement.<\/p>\n<hr>\n<p>Is your portfolio green? Check out the <a href=\"https:\/\/ambcrypto.com\/calculator\/avalanche-2-profit-calculator\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Avalanche Profit Calculator<\/a><\/p>\n<hr>\n<p>According to the official announcement, Avalanche entered into a partnership with SK Planet, one of South Korea\u2019s leading tech and data company. The latter will reportedly build a subnet on Avalanche as part of the company\u2019s plan to have a WEB3 presence. South Korea is currently one of the countries where WEB3 development is booming.<\/p>\n<blockquote data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">SK Planet, a leading data and technology company in South Korea, is building an Avalanche Subnet for their tens of millions of users.<\/p>\n<p>Their subnet, UPTN, will be integrated with SK Planet\u2019s portfolio of consumer applications, including OK CashBag. <a href=\"https:\/\/t.co\/hnbwapQBgM\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">pic.twitter.com\/hnbwapQBgM<\/a><\/p>\n<p>\u2014 Avalanche ???? (@avalancheavax) <a href=\"https:\/\/twitter.com\/avalancheavax\/status\/1643584622931091457?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">April 5, 2023<\/a><\/p>\n<\/blockquote>\n<p>Avalanche\u2019s partnership with SK Planet is among the first examples of enterprise blockahin taking shape. The collaboration will reportedly onboard tens of millions of the South Korean company\u2019s customers onto Avalanche. Such a major shift may trigger a robust flow of liquidity into the blockchain. It may also encourage more businesses to embrace the Avalanche network.<\/p>\n<p>The announcement marks an important step for Avalanche towards <a href=\"https:\/\/ambcrypto.com\/avalanche-avax-raises-investors-hope-but-things-might-take-a-u-turn\/\" data-wpel-link=\"internal\">mass adoption<\/a>. But how will it impact the network? We might witness a massive surge in daily active users, as well as trading volumes.<\/p>\n<p>A quick look at <a href=\"https:\/\/ambcrypto.com\/avalanche-volume-profile-shows-two-critical-resistances-for-bulls-to-overcome\/\" data-wpel-link=\"internal\">Avalanche\u2019s volume<\/a> revealed that the volume was at its highest level since 24 March on the day of the announcement. However, failing to last, the volume tanked in the last 24 hours.<\/p>\n<div id=\"attachment_303442\">\n<p><a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-19.56.56-06-Apr-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-303442\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-19.56.56-06-Apr-2023.png\" alt width=\"2560\" height=\"867\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%202560%20867'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-19.56.56-06-Apr-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-19.56.56-06-Apr-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-19.56.56-06-Apr-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-19.56.56-06-Apr-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-19.56.56-06-Apr-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-19.56.56-06-Apr-2023-2048x693.png 2048w\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-19.56.56-06-Apr-2023.png\"><\/a><\/p>\n<p id=\"caption-attachment-303442\">Source: Santiment<\/p>\n<\/div>\n<h3><strong>Strong development underpinned the announcement<\/strong><\/h3>\n<p>On a positive note, Avalanche\u2019s weighted sentiment experienced a surge in weighted sentiment on 5 April. This was after the news of Avalanche\u2019s partnership with SK Planet, indicating that investors welcomed the announcement with open arms.<\/p>\n<div id=\"attachment_303441\">\n<p><a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-20.12.36-06-Apr-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-303441\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-20.12.36-06-Apr-2023.png\" alt=\"Avalanche weighted sentiment and development activity.\" width=\"2560\" height=\"867\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%202560%20867'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-20.12.36-06-Apr-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-20.12.36-06-Apr-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-20.12.36-06-Apr-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-20.12.36-06-Apr-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-20.12.36-06-Apr-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-20.12.36-06-Apr-2023-2048x693.png 2048w\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-20.12.36-06-Apr-2023.png\"><\/a><\/p>\n<p id=\"caption-attachment-303441\">Source: Santiment<\/p>\n<\/div>\n<p>Avalanche\u2019s new partnership may also pave the way for more development activity in the next few months. Investors should note that the network\u2019s development activity pivoted this week. However, it is not clear whether the increased development is related to the SK Planet\u2019s <a href=\"https:\/\/ambcrypto.com\/avalanches-c-chain-halts-block-production-for-an-hour-a-bug-or-a-feature\/\" data-wpel-link=\"internal\">subnet\u2019s development<\/a>.<\/p>\n<hr>\n<p>Realistic or not, here\u2019s <a href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Avalanche market cap in BTC\u2019s terms<\/a><\/p>\n<hr>\n<p>The overall outcome as observed with the metrics highlight a lack of excitement in the market. Nevertheless, Avalanche\u2019s native cryptocurrency AVAX maintained a bullish trajectory so far this week. It stood at $18.18 after an 8.86% upside since 3 April.<\/p>\n<div id=\"attachment_303440\">\n<p><a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/AVAXUSD_2023-04-06_20-32-27.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-303440\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/AVAXUSD_2023-04-06_20-32-27.png\" alt=\"AVAX price action\" width=\"1062\" height=\"526\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201062%20526'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/AVAXUSD_2023-04-06_20-32-27.png 1062w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/AVAXUSD_2023-04-06_20-32-27-300x149.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/AVAXUSD_2023-04-06_20-32-27-1024x507.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/AVAXUSD_2023-04-06_20-32-27-768x380.png 768w\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/04\/AVAXUSD_2023-04-06_20-32-27.png\"><\/a><\/p>\n<p id=\"caption-attachment-303440\">Source: TradingView<\/p>\n<\/div>\n<p>Furthermore, AVAX\u2019s Relative Strength Index (RSI) was firmly above its mid-range while the Money Flow Index (MFI) confirmed that it garnered some liquidity inflows so far this month. However, the price volatility was still low and the subnet launch might be weeks away if not months.<\/p>\n<\/p><\/div>\n<div id=\"mvp-content-bot\">\n<div id=\"mvp-author-box-wrap\">\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/03\/IMG_20220322_164603_71-80x80.jpg\" height=\"60\" width=\"60\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2060%2060'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/03\/IMG_20220322_164603_71-80x80.jpg\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<p>Michael is a full-time journalist at AMBCrypto. He has 5 years of experience in finance and forex and more than two years as a writer in the crypto and blockchain segments. Michael&#8217;s writing at AMBCrypto is primarily focused on cryptocurrency market news and technical analysis.<br \/>\nHis interests include motorcycles and exotic cars.<\/p>\n<\/p><\/div>\n<div itemprop=\"publisher\" itemscope itemtype=\"https:\/\/schema.org\/Organization\">\n<div itemprop=\"logo\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\">\n<p><img decoding=\"async\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%200%200'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\"><\/p>\n<p><meta itemprop=\"url\" content=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<meta itemprop=\"name\" content=\"AMBCrypto\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/ambcrypto.com\/why-avax-could-dampen-investor-hopes-despite-avalanches-endeavors\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Michael Nderitu<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avalanche is winning in enterprise adoption courtesy of its latest partnership in South Korea. AVAX delivers average rise indicating a lack of excitement around the news. The future just got a lot more promising for the Avalanche [AVAX] blockchain network. This is because the network just jumped to the forefront of South Korea\u2019s WEB developments<\/p>\n","protected":false},"author":1,"featured_media":626619,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107640,3901],"tags":[],"class_list":{"0":"post-626618","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dampen","8":"category-investor"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/626618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=626618"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/626618\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/626619"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=626618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=626618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=626618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}