• News
  • Altcoins
  • Blockchain
  • Bitcoin
  • Ethereum
  • Cryptocurrency News
What's Hot

Samsung Galaxy A02s SM-A025F Binary 3 Full Firmware

May 22, 2023

Sustanon 250 steroid: tutto cio che devi sapere

May 22, 2023

Kentucky Driver’s License Portal

May 20, 2023
Facebook Twitter Instagram
Bit News Today
  • News
  • Altcoins
  • Blockchain
  • Bitcoin
  • Ethereum
  • Cryptocurrency News
Bit News Today
Home»Altcoins»This Crypto Season, Staking Avax From a Cryptocurrency Wallet Might Be Advantageous
Altcoins

This Crypto Season, Staking Avax From a Cryptocurrency Wallet Might Be Advantageous

Saheel KhirodkarBy Saheel KhirodkarDecember 20, 2022Updated:December 20, 2022No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
Gemini Adds Support for New Blockchain Network: Avalanche (AVAX) | Gemini
  • The ability of Avalanche holders to stake AVAX through cold storage raised staker interest.
  • However, it’s still losing ground in the NFT and DeFi sectors.

Holders of AVAX tokens were able to stake them using cold storage thanks to BitGo’s most recent announcement. The announcement caused a 13.24% increase in stakers over the previous week on the Avalanche network. The network had 50,054 stakers at the time of writing, according to data provided by Staking Rewards.

๐ŸŽฏ @BitGo offers clients the first and only @Avalancheavax Staking from cold storage

๐ŸŽฏ #BitGo provides $AVAX holders with the first and only qualified custody staking option.

๐Ÿ”ฝINFOhttps://t.co/bJaK6IfngH pic.twitter.com/maJi0pc8A1

— ๐Ÿ”บ ๐—”๐˜ƒ๐—ฎ๐—น๐—ฎ๐—ป๐—ฐ๐—ต๐—ฒ ๐—ฆ๐—ฝ๐—ฎ๐—ฐ๐—ฒ ๐Ÿ”บ (@Avalanche_Space) December 18, 2022

The opinion of Avalanche remained unfavorable even though the number of stakers rose and the network’s validators backed it.

Data from Santiment show that over the past few days, the weighted sentiment for Avalanche has decreased. This demonstrated that the crypto market’s overall outlook for Avalanche had been dismal.

This unfavorable perception ultimately had an effect on Avalanche’s NFTs as well. The top five NFT collections on the Avalanche network did not experience any volume growth, according to AVAX NFT STATS.

Likewise, Avalanche struggled in the DeFi market. Total value locked (TVL), which at press time had dropped from 1.35 billion to 803 million, had decreased by 547 million since November for Avalanche. In the previous day, its TVL had decreased by 0.52%.

Even though Avalanche’s TVL fell, its escalating revenue over the previous week still indicated growth. The daily revenue produced by Avalanche had increased by 12%, according to Token Terminal.

Looking at the data of Avalanche

On-chain metrics gave Avalanche’s situation a bad impression.

Santiment claims that its development activity has decreased over the past week. This suggested that the development team’s GitHub contributions had decreased in number. However, during this time, its volume increased from 88 million to 116 million.

It remains to be seen whether Avalanche will benefit from and improve on investors’ interest in it. AVAX had a price of $11.97 as of the writing of this sentence. According to CoinMarketCap, its price had increased by 0.75% in the previous 24 hours.

Altcoins avalanch AVAX BitGo cryptocurrency
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Saheel Khirodkar
Saheel Khirodkar
  • Twitter
  • Pinterest
  • Instagram
  • LinkedIn

Saheel works as a content writer for Bitnewstoday. He has always been interested in journalism and enjoys writing. Furthermore, His interest lies in cryptocurrency, and is continuously seeking for new techniques to invest. In his free time, he enjoys staying up to date on the latest industry news and spending time with his family.

Related Posts

How To Create Binance Account 2023

May 15, 2023

Bitcoin’s Next Step: Integration with New Social Systems Technology to Achieve Monetary Status

January 13, 2023

Sensory Immersion Takes Over: Touch and Smell Set to Revolutionize the Metaverse at CES 2023

January 13, 2023

Kraken Announces FLR Token Distribution via Email: Details Inside

January 13, 2023
Add A Comment

Leave A Reply Cancel Reply

Latest Posts

Samsung Galaxy A02s SM-A025F Binary 3 Full Firmware

May 22, 2023

Sustanon 250 steroid: tutto cio che devi sapere

May 22, 2023

Kentucky Driver’s License Portal

May 20, 2023

How To Create Binance Account 2023

May 15, 2023
Editor's Picks

Caneschi Andrea Scheda personale Universitร  degli Studi di Firenze

April 27, 2023

Nevada On line casino On the web 300% Accept Plus As much $two to three,000

March 24, 2023

Online Dating Safety and How to Recognize Red Flags

February 14, 2023

Bitcoin’s Next Step: Integration with New Social Systems Technology to Achieve Monetary Status

January 13, 2023

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Top Insights

Samsung Galaxy A02s SM-A025F Binary 3 Full Firmware

May 22, 2023

Sustanon 250 steroid: tutto cio che devi sapere

May 22, 2023

Kentucky Driver’s License Portal

May 20, 2023
IMPORTANT LINKS
  • DMCA
  • Editorial Policy
  • Fact-Checking Policy
  • About Us
  • Bitnews Home
  • Contact Us
  • Disclaimer
  • Our Team
  • Privacy Policy
  • Terms & Conditions
  • Write For Us
Top Insights

Samsung Galaxy A02s SM-A025F Binary 3 Full Firmware

May 22, 2023

Sustanon 250 steroid: tutto cio che devi sapere

May 22, 2023

Kentucky Driver’s License Portal

May 20, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Welcome to BitNewsToday, where we bring you the latest updates and insights on the world of digital currencies. Whether youโ€™re a seasoned crypto trader or just starting to learn about this exciting and rapidly-evolving industry, weโ€™ve got you covered.

Top Insights

Samsung Galaxy A02s SM-A025F Binary 3 Full Firmware

May 22, 2023

Sustanon 250 steroid: tutto cio che devi sapere

May 22, 2023
Connect With Us
Follow us Google News
Facebook Instagram Pinterest LinkedIn Twitter
  • About Us
  • Contact Us
  • Disclaimer
  • DMCA
  • Editorial Policy
  • Fact-Checking Policy
  • Our Team
  • Privacy Policy
  • Terms & Conditions
  • Write For Us
© 2023 BitNewsToday

Type above and press Enter to search. Press Esc to cancel.