{"id":120201,"date":"2023-07-10T07:34:55","date_gmt":"2023-07-10T07:34:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/avalanche-takes-the-help-of-euroc-to-outperform-these-giants-crypto-news\/"},"modified":"2023-07-10T07:34:57","modified_gmt":"2023-07-10T07:34:57","slug":"avalanche-takes-the-help-of-euroc-to-outperform-these-giants-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/avalanche-takes-the-help-of-euroc-to-outperform-these-giants-crypto-news\/","title":{"rendered":"Avalanche takes the help of EUROC to outperform these giants\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both; display: block; float: none;\"\/><\/p>\n<ul>\n<li><em>Avalanche begins to witness large volume on its protocol as interest in EUROC rises.<\/em><\/li>\n<li><em>AVAX prices begin to surge, however, stakers turn pessimistic.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/Avalanche\" data-wpel-link=\"internal\">avalanche[AVAX]<\/a>  has been gaining large traction in terms of activity over the last month.  One of the major reasons for the growing activity on the Avalanche network would be rising interest in stablecoins.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">Realistic or not, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">here&#8217;s AVAX&#8217;s market cap in BTC&#8217;s terms<\/a><\/p>\n<hr\/>\n<h4>The Euro angle<\/h4>\n<p>Specifically, the Avalanche network benefited most from the growing interest in EUROC.  Euro Coin, or EUROC, is a euro-backed stablecoin that&#8217;s accessible globally on Ethereum and Avalanche.  Similar to USDC, Euro Coin is issued by Circle under a full-reserve model.<\/p>\n<p>According to recent data, Avalanche has seen more volume of the EUROC stablecoin than Coinbase and Ethereum combined.  The volume has been driven on the Avalanche network primarily by the dApp Trader Joe&#8217;s.  The volume relating to EUROC on the dApp grew by 35.5% in the last 24 hours according to CoinMarketCap&#8217;s data.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Avalanche does more volume than Coinbase and Ethereum combined for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24EUROC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">$EUR<\/a><\/p>\n<p>This is not yet including the new <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/dexalotcom?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">@dexalotcom<\/a> market, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CablesFinance?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">@CablesFinance<\/a> and some others which would increase it approx another 30%<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/kQgehL4iBB\" data-wpel-link=\"external\">https:\/\/t.co\/kQgehL4iBB<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/MLkBAN7B5i\" data-wpel-link=\"external\">pic.twitter.com\/MLkBAN7B5i<\/a><\/p>\n<p>\u2014 Luigi D&#8217;Onorio DeMeo\ud83d\udd3a (@luigidemeo) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/luigidemeo\/status\/1677645588467269633?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">July 8, 2023<\/a><\/p>\n<\/blockquote>\n<p>Due to the high interest in EUROC on Avalanche, the number of daily active users on the protocol grew by 2.4% in the last 24 hours according to Token Terminals data.  In terms of revenue, there was a 13.5% spike observed during the same period.<\/p>\n<h4>Impact on price<\/h4>\n<p>The AVAX token witnessed similar growth as its protocol in terms of price.  Since the 10 June, the price of AVAX grew by 32.58% after testing the $10.72 support level.  The price showed higher lows and higher highs establishing a bullish trend during this period, till it approached $13.71 level after which the price experienced a minor correction.<\/p>\n<p>However, AVAX managed to bounce back and surpassed the $13.71 level, and managed to re-test the $14.27 resistance.  The RSI indicated that the momentum was with the buyers at press time.  Additionally, the CMF showed that the money flow was favoring the bulls as well.<\/p>\n<div id=\"attachment_326246\" style=\"width: 2318px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/AVAXUSD_2023-07-09_17-44-53.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326246\" class=\"wp-image-326246 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/AVAXUSD_2023-07-09_17-44-53.png\" alt=\"\" width=\"2308\" height=\"1404\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/AVAXUSD_2023-07-09_17-44-53.png 2308w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/AVAXUSD_2023-07-09_17-44-53-300x182.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/AVAXUSD_2023-07-09_17-44-53-1024x623.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/AVAXUSD_2023-07-09_17-44-53-768x467.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/AVAXUSD_2023-07-09_17-44-53-1536x934.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/AVAXUSD_2023-07-09_17-44-53-2048x1246.png 2048w\" sizes=\"auto, (max-width: 2308px) 100vw, 2308px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326246\" class=\"wp-caption-text\">Source: Trading View<\/p>\n<\/div>\n<p>Due to these factors, traders were turning bullish towards AVAX.  Coinglass&#8217; data indicated that the percentage of bullish positions taken in favor of AVAX increased from 47% to 52% in the last few days.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">Read Avalanche&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/avalanche-2-price-prediction\" data-wpel-link=\"internal\">Price Prediction 2023-2024<\/a><\/p>\n<hr\/>\n<p>However, the same optimism wasn&#8217;t showcased by the stakers.  Staking rewards&#8217; data indicated that the number of addresses staking Avalanche had fallen by 2.97% over the last week.<\/p>\n<div id=\"attachment_326245\" style=\"width: 1380px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326245\" class=\"wp-image-326245 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"1370\" height=\"714\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM.png 1370w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM-300x156.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM-1024x534.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM-768x400.png 768w\" data-lazy-sizes=\"(max-width: 1370px) 100vw, 1370px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326245\" class=\"wp-image-326245 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM.png\" alt=\"\" width=\"1370\" height=\"714\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM.png 1370w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM-300x156.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM-1024x534.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-09-at-5.43.52-PM-768x400.png 768w\" sizes=\"auto, (max-width: 1370px) 100vw, 1370px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326245\" class=\"wp-caption-text\">Source: Staking Rewards<\/p>\n<\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avalanche begins to witness large volume on its protocol as interest in EUROC rises. AVAX prices begin to surge, however, stakers turn pessimistic. avalanche[AVAX] has been gaining large traction in terms of activity over the last month. One of the major reasons for the growing activity on the Avalanche network would be rising interest in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":120202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-120201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=120201"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120201\/revisions"}],"predecessor-version":[{"id":120203,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120201\/revisions\/120203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/120202"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=120201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=120201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=120201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}