Guy, the pseudonymous host of Coin Bureau, has offered a realistic year-end price prediction for smart contract platform Avalance (AVAX) amidst a collection of bullish fundamental factors.
In a new video, the crypto influencer tells his 1.31 million YouTube subscribers that an Avalanche Apricot upgrade, which impacts AVAX’s fee structure, could add fuel to a potential AVAX rally.
“Prior to this, Avalanche smart contracts had a fixed fee mechanism. Now the reason why this is so significant is because all AVAX used to pay for transaction fees is burned and a dynamic fee schedule could mean more AVAX going up in flames when the network is seeing a lot of activity.
Network activity is all I can see for Avalanche on the horizon as more dApps [decentralized applications] and DeFi [decentralized finance] protocols make their debuts, and this might just be enough to push AVAX past its previous all-time high.”
The analyst says that the crypto asset now offers additional features after achieving a new milestone with the new and improved Avalanche bridge.
“It is now five times faster and two times cheaper to move tokens between Avalanche and Ethereum. Avalanche also has plans to build additional bridges to other blockchains to become ‘the core hub of DeFi.’
Unfortunately Avalanche has not yet managed to meet another major milestone, and that’s the introduction of a new and improved Avalanche wallet complete with a mobile app and browser extension. Avalanche still has a month left to introduce these new wallet features and hopefully, we’ll see them by the end of the September deadline on the roadmap.”
Guy names a price level that he thinks AVAX could realistically reach by the end of 2021.
“I think a hundred dollars is a realistic expectation for an end-of-year target. However, it’s worth pointing out that we will probably see a bit of front-running going on – people selling slightly before that significant $100 price point. This makes $80 to $90 a safe sell range. It’s possible AVAX could rise much higher than that, but this ultimately depends on what Avalanche has planned for the coming months.”
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Mia Stendal
The post Here’s a Realistic End-of-Year Price Target for Avalanche, According to Coin Bureau appeared first on The Daily Hodl.