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Avalanche Foundation Acquired 1.97 Mln AVAX tokens from LFGThe Avalanche Foundation recently took a bold step to reclaim its ecosystem's autonomy by acquiring 1.97 million AVAX tokens from the liquidated Luna Foundation Guard (LFG) for $53 million. This buyback, paired with CRYPTOCAP:AVAX ’s strong technical outlook, positions Avalanche well for further growth in the evolving crypto market. Let’s dive into what this buyback means for Avalanche, its partnership history with LFG, and the technical indicators suggesting where CRYPTOCAP:AVAX might be headed next. The AVAX Buyback The Luna Foundation Guard (LFG) originally acquired $100 million worth of AVAX tokens from the Avalanche Foundation as part of a reserve strategy to support TerraUSD (UST), the algorithmic stablecoin of the Terra blockchain ecosystem. In return, the Avalanche Foundation received $200 million worth of UST and LUNA tokens, signaling a cross-ecosystem partnership intended to strengthen both platforms. However, following the collapse of UST, the Avalanche Foundation faced a dilemma. The 1.97 million AVAX tokens LFG still held became a potential risk, as their future sell-off could create a major price disruption. In response, Avalanche reclaimed these tokens to mitigate uncertainty and reaffirm its commitment to the community. Aytunç Yildizli, CEO and Executive Director of the Avalanche Foundation, expressed optimism regarding this acquisition, viewing it as a reinforcement of Avalanche’s ongoing commitment to growth and development. How the Tokens Will Be Used Avalanche’s reclaimed AVAX tokens will be funneled into initiatives supporting its ecosystem. According to Avalanche representatives, these tokens are earmarked for community grants, ecosystem development, and technological advancements. By using the tokens in this way, Avalanche aims to foster community engagement, expand its ecosystem, and ultimately attract more projects and developers to the platform. The Partnership with Terra The original partnership between Avalanche and LFG was a milestone in cross-chain collaboration. By contributing $100 million worth of AVAX to UST’s reserve, Avalanche became the first major crypto asset outside of Bitcoin to support UST, expanding its role in the Terra ecosystem. The collaboration had initially sparked hopes for integrating Terra-based DeFi protocols within the Avalanche ecosystem. Although the plans were cut short by the Terra collapse, this collaboration showed the potential of cross-chain partnerships in crypto. Technical Analysis Despite its impressive fundamentals, CRYPTOCAP:AVAX has experienced a minor dip of 1% at the time of writing. However, the daily chart reveals a promising “Golden Cross” pattern, a technical indicator where the 50-day moving average crosses above the 200-day moving average. Historically, this pattern is considered a strong bullish signal, often indicating that the asset is primed for an upward reversal. Yet, caution remains necessary. If selling pressure persists, CRYPTOCAP:AVAX could dip to its next support level around $24. This would provide an opportunity for accumulation, especially for those who believe in the token's long-term potential. AVAX’s Role in the Layer-1 Ecosystem As a leading layer-1 blockchain, Avalanche differentiates itself through its unique subnet architecture, enabling highly customizable and scalable applications. This modular approach has drawn various developers to build DeFi, gaming, and enterprise applications within the Avalanche ecosystem. With the AVAX buyback, the Avalanche Foundation signals a strategic focus on expanding and supporting these use cases, enhancing the platform’s utility and resilience. Conclusion: Is AVAX Ready for a Rebound? Avalanche’s proactive buyback of AVAX tokens from LFG demonstrates the Foundation’s commitment to fostering stability and long-term growth. Coupled with a Golden Cross pattern on the daily chart, these fundamentals suggest a promising outlook for $AVAX. The token remains a valuable asset for investors seeking a solid foundation within the layer-1 blockchain sector. While short-term volatility may persist, Avalanche’s combination of technical indicators and ecosystem developments makes it well-positioned for a potential bullish trend. For investors eyeing layer-1 assets, CRYPTOCAP:AVAX offers a compelling mix of fundamentals, technical strength, and future growth potential.
COINBASE:AVAXUSDLong
by DEXWireNews
$LUNC Soars with Unanimous Approval of v2.4.2 Upgrade Terra Luna Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) embarks on a transformative journey with the unanimous passage of its v2.4.2 upgrade proposal. Bolstered by overwhelming validation from validators and stakeholders, the Terra Luna Classic community sets the stage for a significant evolution in its blockchain ecosystem. The v2.4.2 upgrade, aptly dubbed Terra Classic v7, introduces a slew of groundbreaking features, chief among them being the implementation of IBC-Hooks. This pivotal upgrade paves the way for seamless integration of decentralized applications (dApps) onto the Terra Luna Classic platform, notably including the highly anticipated Enterprise DAO. The unanimous endorsement of the proposal underscores its paramount importance within the Terra Luna Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) community. Notably, key validators such as Allnodes, Orion, Interstellar Lounge, Stakely, and HappCattyCrypto have rallied behind the upgrade, affirming its significance and potential impact on the platform's future trajectory. The comprehensive upgrade encompasses various enhancements, including the removal of package-forward-middleware (PFM) from the mainnet release and the addition of a minimum initial deposit requirement. These refinements, borne out of community discussions and deliberations, signify a collective commitment to advancing the Terra Luna Classic ecosystem. Moreover, Genuine Labs' proposal for a major security upgrade, incorporating key components such as Cosmos SDK 0.47.10 and IBC go v7, further fortifies Terra Luna Classic's resilience against potential threats and vulnerabilities. In tandem with these developments, the Singapore-based crypto futures trading platform WEEX announces the listing of LUNC spot and futures pairs. This strategic move not only expands LUNC's market accessibility but also augurs well for its liquidity and trading volume. Despite recent market fluctuations, SEED_DONKEYDAN_MARKET_CAP:LUNC demonstrates resilience, with a 1% price increase over the past 24 hours and a 4% uptick in the last week. Trading activity remains robust, underpinning investor confidence in Terra Luna Classic's long-term viability and growth potential. As Terra Luna Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) charts a course towards greater innovation and inclusivity, the unanimous approval of the v2.4.2 upgrade heralds a new era of possibility and progress. With a firm foundation in community consensus and technological advancement, Terra Luna Classic emerges as a beacon of resilience and evolution in the ever-expanding landscape of blockchain ecosystems.
Long
by DEXWireNews
2
Ethereum March-April 2022I suspect the price will continue to decline within the higher time frames and reach a pivot point somewhere between March 22-April 1st. Let's watch and see. This is based off of calculations of the geometric progression of the lunar year using Fibonacci sequence and squaring price with time, to which we arrive at the date of April 1st for a major pivot with potential minor pivots on March 16th and March 22nd. Go ahead and test this for yourself. Use these numbers below to count the days from from any major pivot within any given year: 29.53 41.76 51.14 59.06 66 83.52 88.5 106.47 118.12 135.32 147.65 172.18 177.18 206.71 219 236.24 265.77 278 295.30 324.83 354
COINBASE:ETHUSD
by EsotericTrading
Moon at 30 degrees ETHWith the lunar aspect at 30 degrees, we can observe the prior historical patterns and come to our own conclusions of a possible pullback in the market sentiment and price action again before heading upwards or sideways into spring. However, if the market sentiment is strong, then this degree would serve merely as a short term cooling off consolidation period over the next day or two. Lunar tools used in this analyst: "The Moon" customization tool by @NasserHumood .
INDEX:ETHUSD
by EsotericTrading
LUNA showing strengthIF BTC AND ETH behave, we can see 3 digit Luna rather quick. Sentiment is bullish af and charts look good im(humble)o IF BTC AND ETH behave, we can see 3 digit Luna rather quick. Sentiment is bullish af and charts look good im(humble)o IF BTC AND ETH behave, we can see 3 digit Luna rather quick. Sentiment is bullish af and charts look good im(humble)o IF BTC AND ETH behave, we can see 3 digit Luna rather quick. Sentiment is bullish af and charts look good im(humble)o IF BTC AND ETH behave, we can see 3 digit Luna rather quick. Sentiment is bullish af and charts look good im(humble)o IF BTC AND ETH behave, we can see 3 digit Luna rather quick. Sentiment is bullish af and charts look good im(humble)o IF BTC AND ETH behave, we can see 3 digit Luna rather quick. Sentiment is bullish af and charts look good im(humble)o IF BTC AND ETH behave, we can see 3 digit Luna rather quick. Sentiment is bullish af and charts look good im(humble)o love you guys kill 2022 if u read this. always pay yourself first in crypto..
Long
by thomasstuyck63253