The cryptocurrency that grew by more than 80% in a week is named

Cryptocurrency analysts have identified tokens whose value has grown significantly over the week. The top three are: Avalanche, Cardano, and Solana.

The best result was demonstrated by the Avalanche cryptocurrency (AVAX), which entered the top 10 digital assets by market capitalization. AVAX quotes have increased by 85.3% over the past 7 days, adding 16.8% in the past 24 hours alone. The market capitalization of the virtual asset is $ 15.12 billion.

At the time of writing, AVAX is trading at $ 40.98. Analysts noted that the token managed to significantly outperform other major altcoins. For example, Binance Coin (BNB) rose by 9% over the week, Solana by 19.9%, and Cardano (ADA) managed to rise by 42.85%.

The rise may be attributed to an increase in user activity on the Avalanche network. As a result, large holders have also become more active — last week alone, more than 1,000 transactions of $ 100,000 or more were registered. CoinShares analyst Max Shannon said: «Last month, JPMorgan and Apollo announced that the Avalanche network would be used to test real-world asset (RWA) tokenization technology. This is likely to be the main catalyst for the growth of the cryptocurrency’s value.»

According to Bloomberg experts, two important events this week will lead to volatility in the stock and cryptocurrency markets. We are talking about the Federal Reserve’s upcoming decision on interest rates and the publication of November inflation data in the United States.

According to Bloomberg analysts, traders expect that «these events will cause market turbulence as the financial world tries to predict the mood of the global economy in 2024.» According to the experts' report, the indicator of expected volatility is at its highest level since March this year.