Avalanche (AVAX) Is on a Bullish Trend After a Long Time of Volatility

AVAX is experiencing a surge in its price with the overall market due to the recent surge in BTC price.

Avalanche (AVAX) price surged today, reaching a 24-hour high of $19.99, which amounts to a 4.50% increase. Its trading volume also increased significantly by 24.83% to $339.52 million.

Recently, the whole market has moved from bearish to bullish, and this is pushing up the price of several coins. Among these coins is AVAX, which is seeing an increase in its price with the whole market due to the recent surge in BTC price.

Among the Layer 1 tokens, like Solana (SOL), BNB, and Cardano (ADA), which have been experiencing a surge in price, a crypto expert predicts that see Avalanche (AVAX) to hit $30.

As seen in the chart, at the time of writing, AVAX is changing hands at $19.26, showing a 7-day performance that is 16.61% higher.

AVAX Could Reach $30 as Investor Sentiment Turns Bullish

Crypto expert Miya is optimistic about Avalanche (AVAX), setting a price target of $30 for the token as it continues to climb in a strong bullish trend.

According to Miya, this presents a good time for investors to accumulate more AVAX, especially before any major breakout.

Her optimism is fueled by the increasing strength of the trend, supported by healthy technical indicators and renewed interest in Layer 1 projects.

In essence, if the buying pressure persists and broader market sentiment remains positive, paving the way for a potential breakout.

This makes it a potentially smart time to invest in more AVAX.

VanEck Files for Avalanche ETF and Seeks SEC Approval

On Thursday, asset management firm Applied Value Investment Management, acting on behalf of VanEck, filed a 19b-4 form with the SEC.

This signals the firm’s intent to launch an ETF that will provide direct exposure to Avalanche (AVAX) to retail and institutional investors via a regulated investment vehicle.

The ETF, which will be listed on Nasdaq and is expected to be approved in the coming months, will be based on the Market Vector Avalanche Benchmark Rate and will be structured as a commodity fund.

This move follows an earlier S-1 registration filed by VanEck in March, making it the second asset manager to pursue an AVAX ETF.

Earlier this year, asset management firm Harvest Global Investments also filed a 19b-4 form for an AVAX trust. However, Harvest later withdrew its application.

Its Action Would Provide Investors with Exposure to AVAx

This new development comes as investors pour billions of dollars into cryptocurrencies, seeking a hedge against inflation and an alternative investment class.

As the crypto market recovers in 2024, institutions are actively seeking avenues to provide investors with accessible exposure to digital assets.

In March, VanEck filed a S-1 registration statement for a new material risk top-concentrated fund with the SEC.

The firm’s plans to launch an AVAX ETF were first reported by Bloomberg in December. At the time, Ben Rockwell, head of digital assets at Boston Private, provided insights into the growing demand for Layer 1 tokens like AVAX.

Known for its high throughput and Ethereum Virtual Machine (EVM) compatibility, Avalanche’s layer-1 blockchain offers significant advantages in handling a large volume of transactions quickly.

With a market capitalization of around $7.5 billion, AVAx is currently no. 13 worldwide.

Changelly’s Price Prediction for April 2025

Changelly’s price prediction model for April 2025 estimates that AVAX could trade somewhere between $16.33 (minimum) and $20.47 (maximum), with an average price of $18.40, a future potential return of 5.4%.

More comprehensive projections for a full calendar year (January – December 2025) see the token’s average price at $20.94 with an expected return of 4.7%.

These forecasts are based on a combination of technical analysis, fundamental factors, and market trends.

The cryptocurrency has seen a significant surge in recent times, driven by broader bullish sentiment in the crypto market and interest in Layer 1 tokens.