Avalanche (AVAX) Rises 8% Following Strategic Partnership with Stripe

• Avalanche (AVAX) stood out with an 8% surge despite the broader decline in the crypto market.
• AVAX’s partnership with Stripe offers substantial growth prospects for the token.

Avalanche (AVAX) showcased a significant recovery amidst the crypto market’s downturn, surging by 8% following its strategic alliance with Stripe, a leading online payment processing platform. This collaboration may pave the way for potential long-term growth for AVAX.

Stripe’s integration of USDC preceded its partnership with Avalanche, allowing Core to seamlessly integrate with Stripe, and granting users access to AVAX tokens, dApps, and NFTs within Avalanche’s ecosystem.

Following the integration, Avalanche’s price climbed from $33.06 to $35.78. However, AVAX is still declining by over 45% from its 2024 high of $60.69.

Avalanche (AVAX) Current Status

At the time of writing, Avalanche is trading at $33.20, with a market cap of $12.58 billion. The surge in price is accompanied by a notable 88% increase ($527M) in 24-hour trading volume, indicating heightened investor interest.

If the uptrend persists and AVAX surpasses the $36 resistance level, the token could target the $40 and $45 price levels. Moreover, the technical analysis suggests a bullish sentiment, with speculation rife that AVAX might breach the $50 mark.

However, it remains imperative for AVAX to maintain support at $30. Failure to do so might trigger a retracement, potentially dipping towards the $25 region in a bearish scenario.