 Hello and welcome to Make Money Territory, in this video we will be talking about the latest update on Avalanche Coin. The Avalanche price has risen by 2% in the past 24 hours with its move to $40 also representing a 42% gain in the last 7 days. This makes AVAX one of the best performing coins over this period with the alt also having risen by 93% in the last 30 days and by 199% in the past year. Much of this rallying has come from AVAX's recovery from overselling with the coins fundamentals remaining as strong as ever given Avalanche's growth as a blockchain network and the coins fortunes could only improve in the coming months especially if 2024 brings a bull market. While the rest of the market experienced a decline, AVAX's price rallied in the last week partly due to the influx of funds into crypto investment funds backed by the altcoin. At these values these indicators showed that daily traders favored accumulation over distribution. Confirming the bullish trend in the AVAX market, its awesome oscillator AO, has only posted green upward facing histogram bars in the past 7 days. This indicator gauges market momentum and identifies potential buy and sell signals. Green upward facing bars in an asset's AO are typically seen after a period of consolidation or a pullback. They indicate that the buyers have taken control of the market and that the price rally will continue. Avalanche's indicators are currently on fire, signaling a strong amount of buying pressure which perhaps won't sustain itself for much longer in the short term. For instance, its relative strength index purple is now closing in on 90, a level which is firmly in overbought territory. Nonetheless, it seems that AVAX could continue rising for a little while yet with its 30 day average yellow now rising more steeply above its 200 day average blue. This is a clear sign of expansionary bullishness, with AVAX's trading volume now rising to $1.6 billion, up from $300 million barely 2 weeks ago. There's no immediate fundamental reason as to why AVAX has rallied so strongly in the past few days, with Avalanche not announcing any major news in recent weeks. That said, it seems that traders and whales are finally remembering that Avalanche is potentially a sleeping giant, with its blockchain network experiencing steady growth over the past year. It remains the fourth biggest blockchain in terms of total value locked in, which in Avalanche's case stands at just over $900 million. Go beyond the narratives and dig into the data. Here's a quick overview of some notable metrics from Avalanche Watch November Edition. It also experienced big growth in NTF sales in November, as well as growth in the usage of Avalanche based yield farming protocols, such as vector finance and beefy finance. Taken together such factors would point to further increases for the Avalanche price in the next few weeks and months, with analysts increasingly expecting a bull market next year. AVAX could be one of the biggest beneficiaries of such a market, with its price potentially reaching $60 within the first few weeks of 2024. AVAX has undeniably seen impressive price gains recently, with triple-digit percentage returns over the last month. However, cryptocurrency analyst Gerhard urges a healthy skepticism of this short-term momentum, given declining fundamentals for the Avalanche blockchain and questions around long-term tokenomics. While AVAX prices are spiking, actual usage and activity metrics for Avalanche paint a grimmer picture. Gerhard points out that the total value locked, TVL, in Avalanche has dropped over 90% from its peak of $14 billion to just around $1 billion now. This divergence between rising prices and falling network utilization has Gerhard concerned about the rally's sustainability. In addition, Avalanche has an inflationary token model that could put negative pressure on AVAX's price over time if new demand doesn't outweigh the increasing token supply. Currently, there are 410 million AVAX tokens in circulation, but that number is expected to rise to 478 million in one year. Without matching adoption growth, inflation could hinder significant gains. Gerhard also questions how much more upside AVAX has relative to dominant cryptocurrency rivals Bitcoin and Ethereum. Despite already vastly outperforming both blue chips, AVAX appears priced for equivalence or superiority going forward, which Gerhard suggests is overly optimistic. Those buying AVAX at current prices are mostly speculating on momentum rather than underlying blockchain fundamentals and utility. Essentially, short-term hype has detached from longer-term reality when it comes to Avalanche. While betting on continued exuberance can pay off, it is an inherently risky venture as sentiment eventually reconnects with factual network development and highlighting falling network usage, unresolved tokenomics issues, lofty relative valuations and significant downside risks. For AVAX bulls, ignoring these warning signs may work for a time, but for prudent investors exercising caution now likely avoids pain later. The expert analysis suggests there are more reasons to doubt than celebrate Avalanche's rally at the moment. SeenScript Avalanche is a Layer 1 blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum's rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability. This is made possible by Avalanche's unique architecture. The Avalanche network consists of three individual blockchains, the X-Chain, C-Chain and P-Chain. Each chain has a distinct purpose which is radically different from the approach Bitcoin and Ethereum use, namely having all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms based on their use cases. Avalanche supporters expect the integration with InSpec could onboard more NFT traders. At the back of this, some analysts forecast the coin will break above $35 by the end of the year. Thanks for watching, please don't forget to subscribe for more interesting updates.