Avalanche

In the bullish market sentiment, the majority of cryptocurrencies are experiencing massive price surges because of the interest of investors and whales. Amid this, a report from an on-chain analytic firm stated that the total volume of large transactions on Avalanche hit a massive $329 million on Monday, March 11, 2024. Why AVAX price is increasing? 
This massive volume of large transactions on Avalanche is the highest daily amount since December 2023, highlighting the increased activity of crypto whales as well as investors. Following this massive volume of large transactions, the price of AVAX increased by over 30%.
The total volume of large transactions on Avalanche hit $329 million on Monday, the highest daily amount since December. This indicates increased activity of large holders.🔗
However, this record of large transactions comes after the AVAX price retests its previous breakout resistance level. According to expert technical analysis, AVAX is currently experiencing strong resistance near $56. But this time, it is expected that AVAX will break out of the resistance level following these record transactions by crypto whales. AVAX technical analysis and key levels 
If AVAX on a daily timeframe closes above $56, then in the coming days, we may see the price hit $67 and $100. Currently, AVAX is trading near $54, and in the last 24 hours, it experienced a price surge of over 14%. If we look at AVAX over a longer period, in the last 7 days, it gained a price surge of over 31%, whereas in the last 30 days, it experienced a price surge of over 32%.
Besides these data of large transaction volume and the price surge, in the past 24 hours, the trading volume has also soared by over 47%, highlighting investors’ as well as traders’ interest in AVAX. Despite AVAX, currently, the overall cryptocurrency market is experiencing a massive upside momentum, where top cryptocurrencies like Binance’s BNB, Toncoin’s TON, and many others experienced a massive price surge of over 12% and 21% in the last 24 hours.&nbsp;
Additionally, this month is crucial for AVAX as on March 22, 2024, it’s going to unlock a massive 9.54 million <a href="https://news.todayq.com/1-billion-worth-crypto-set-to-unlock-in-feb-sui-avax-and-more/" rel="noopener noreferrer nofollow">AVAX tokens</a>, which are worth around $339.78 million and equivalent to 2.60% of the total circulating supply. As per this massive token unlock, analysts as well as experts are speculating that there might be a small correction following this massive token unlock.
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Here’s why Avalanche’s price is up by 30%

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