DeFi

when

Avalanche

Amid the emerging declining trends in the crypto market, Stripe announced the integration of the <a href="https://news.todayq.com/jack-mas-alipay-joins-hands-with-avalanche-whats-cooking/" rel="noopener noreferrer nofollow">Avalanche</a> C-Chain into its fiat to crypto onramp. This move will allow retail users to purchase AVAX directly through the platform in the US. This merger comes in when Avalanche has been printing red indexes for a long time. Avalanche joins hands with Stripe 
As per the announcement, the partnership of Stripe with Avalanche looks to eliminate the need for users to navigate through exchanges. It mentioned that fiat-to-crypto onramp is embedded as a customizable widget within Avalanche dApps. This includes decentralized exchanges (DEXes), NFT platforms, and digital wallets.
It is expected to empower users to fund their wallets using ACH, debit, and credit cards. It highlighted that Avalanche’s native ecosystem wallet has already integrated Stripe’s onramp. It provides users with additional avenues to purchase assets on the blockchain.
This mega integration comes in when AVAX is continuously struggling to keep up with the recent bull run of the market. Avalanche price dropped by more than 35% in the last 30 days, while it is still down by around 10% on the year to date (YTD) basis.
AVAX price is down by 10% in the last 7 days. It is trading with an average price of $34.84, at the press time. It is still down by 76% from its all time high (ATH) of $146.22 recorded on November 21, 2021. Its 24 hour trading volume is up by 38% to stand at $383 million. Avalanche’s market cap stood at $13.19 billion. Stripe’s new move 
Stripe’s integration aims to address the “cold start problem” encountered by Web3 companies. It helps where users lack sufficient funds in their wallets to engage in platform transactions. By handling Know Your Customer (KYC) processes, payments, fraud prevention, and compliance. Stripe ease the onboarding process for users, facilitating quick and secure access to digital assets.
Several prominent Avalanche ecosystem partners, including GoGoPool, Avvy, Pakt, zeroone, Halliday, The Arena, Shrapnel, and DeFi Kingdoms, have expressed intentions to integrate with Stripe. This collaboration is set to bridge the adoption gap between Web2 and Web3, enabling a broader subset of users to engage with digital currencies.
Akash Gupta, Head of Consumer Products at Ava Labs, emphasized Core’s commitment to providing intuitive and streamlined solutions, stating, “Core’s integration with Stripe underscores our dedication to seamless onboarding and broader consumer adoption of digital currencies in everyday transactions.”

Can this move help Avalanche to recover from 35% dump?

Todayq News

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