Avalanche price looks ready to hit new all-time high in meteoric rally

Proponents are bullish on the smart contract platform Avalanche. Analysts have predicted that the token could hit a new all-time high based on the Avalanche price chart. 

Avalanche ranks in top 11 cryptocurrencies, leaves Dogecoin behind 

Avalanche, the native token of the smart contract platform has posted over 37% gains over the past week. Daily transactions on the Avalanche contract chain hit a new all-time high of 896,000. 

The protocol is processing 75% of Ethereum’s transaction load while settling transactions under a second, at a fraction of the cost in gas fees. 

Jay Kurahashi-Sofue, the VP of Marketing at the Avalanche Labs recently tweeted:

Avalanche’s market capitalization has climbed consistently, leaving Dogecoin behind. Analysts are bullish on the token’s price and predict a rally. The token could hit a higher high based on @Trader_XO, a crypto analyst’s prediction. 

@AltcoinSherpa, a pseudonymous cryptocurrency analysts is of the opinion that Bitcoin ranging is good in the short-term for altcoin prices. @AltcoinSherpa revealed that Avalanche is on his watchlist among other altcoins. 

@Phoenix_Ash3s, a cryptocurrency analyst set his first target at $117 for Avalanche. The analyst is now awaiting the token’s price rally. 

@BigCheds, crypto trader and analyst is of the opinion that Avalanche price trend is displaying relative strength. 

Avalanche’s fee revenue has increased consistently with the rising number of transactions and on-chain activity. This has contributed to the token’s popularity, social dominance and spike in market capitalization.