The cryptocurrency market digest (BTC, AVAX). Overview for 26.05.2023


The BTC exchange rate on Friday is near the 26,455 USD mark. The local low was marked at the 25,865 USD level.

Thus, the BTC price is trying to get back above the resistance at 26,650 USD. At the same time, chances for a new selling wave are quite high as long as the rate is below this level. A consolidation above 26,650 USD would open the market to 27,200 USD.

The capitalisation of the cryptocurrency market slumped even lower to around 1.109 trillion USD. BTC's share fell to 46.2%, while ETH's share rose to 19.6%.

"Whales" are buying altcoins

Despite problems with the US government debt ceiling and investors withdrawing from risk, cryptocurrency whales are buying up altcoins. Demand is noticeable for MATIC, RNDR, and AGIX coins. The latter attracted attention during the AI boom after the emergence of ChatGPT earlier this year. Whales added another 11 million tokens to their accounts between 11 and 25 May.

The Avalanche ecosystem is ready for a breakthrough

The Avalanche ecosystem (AVAX token) is attracting increasing attention in the blockchain and DeFi world thanks to Avalanche's unique consensus mechanism and its compatibility with other blockchains. This makes the company's developments attractive to users and technical experts alike. It is believed that the Avalanche ecosystem has the potential to grow significantly in the future, thanks to the active participation of users and developers.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.