Avalanche 암호화폐 falls 8% after Helicon launch—can AVAX hold $10?
Avalanche’s AVAX fell more than8%, giving back part of its recent rally one day after the network activated its Helicon upgrade.
The timing does not mean that the upgrade is responsible for the decline. Instead, what the chart suggests is that traders took profits after AVAX saw some positive trends and approached a major resistance area.
Helicon Upgradewas launched in Avalanche 메인넷 on September 22. It brought six changes in network performance, 스테이킹, and transaction fees.
Avalanche’svalidators can now automatically renew their stake. Before now, after each stake ended, they had to redo the 스테이킹 process.
Minimum 스테이킹 duration has also been reduced fromtwo weeks to 48 hoursfor its users, giving them a choice of how much time they can commit their AVAX.
Instead of validators receiving rewards for being up80%of theirchosen 스테이킹 period, they now have to be constantly up90% or higher. The reasoning behind the stricter rule is that it will increase the uptime reliability of the network.
Another change allows Avalanche to approve blocks whilst processing earlier transactions. What this means is that the network can now perform more work without waiting until one process has finished before moving on to the next.
In a change intended to provide predictable rewards for investors, Helicon will be gradually adjusting the 스테이킹 reward formula over a period of90 days. AVAX developers estimate such a change will slightly decrease AVAX inflation but will still reward long-term 스테이킹.
AVAXstarted 거래 near the$11. 31price level and reached the$11. 40price level before falling to about$10. 36. Its lowest level of the day at the$10. 11price level places the psychological$10level under immediate pressure.
The climb took place while the price was below$8, coming steeply upwards, which pushed a momentum indicator into overbought levels due to the speed in price appreciation. The momentum has since cooled down, but buyers are still in control.
AVAX continues to float above its short-term and long-term trend leading levels. 거래 at the$10level, therefore, could leave space to have another shot at the$11. 40 – $11. 65resistance levels.
Above this range, we could see the$13. 50level. Yet, should the$10range fall, support will next be expected at the$9. 50, $9. 75level. Following on again, and we could see the area of $8. 70, $8. 85levels tested.
출처: AMBCrypto