AVAX price hits new all-time high after Deloitte adoption, flipping Dogecoin
- Avalanche has flipped Dogecoin in market capitalization and ranked among the top 10 cryptocurrencies in the ongoing AVAX price rally.
- AVAX price recently hit a new all-time high of $144.96 on November 21, and the altcoin’s market capitalization has exceeded $29.7 million.
- Proponents attribute the recent AVAX price rally to Avalanche Network’s partnership with Deloitte to build efficient disaster management platforms.
Avalanche decentralized network’s native token AVAX exploded as it hit a new all-time high. The altcoin has flipped dog-themed meme coins to rank in the top 10 cryptos.
AVAX beats Shiba Inu and Dogecoin in market cap momentarily
Avalanche network shared news of its partnership with Deloitte, one of the world’s largest consulting firms.
The partnership with one of the Big 4 consulting firms is for a disaster management project, Close as You Go (CAYG). The platform is being designed to enable disaster victims to obtain reimbursements faster.
Alex Haseley, principal and leader of, Deloitte’s government and public services crisis management portfolio, said,
Our new Close As You Go platform can play a critical role in helping these leaders be prepared to aggregate and validate the documentation necessary to demonstrate eligibility for funding and reduce the risk of adverse audit findings down the road.
Proponents have attributed the AVAX price rally to the announcement of Avalanche blockchain’s utility in powering CAYG’s cloud-based platform.
Avalanche started rallying two days ago, AVAX price hit a new all-time high of $144.96 less than 24 hours ago. The altcoin is competing with dog-themed meme coins Dogecoin and Shiba Inu for market capitalization and dominance.
AVAX momentarily flipped Dogecoin to rank in the top 10 cryptocurrencies by market cap.
@Ninjascalp, a full-time crypto trader and analyst, believes that AVAX price will most likely outperform most Layer-1 tokens. The analyst is awaiting a bullish reaction in AVAX price.
$AVAX looks clean on dips, wait for bullish reaction then long with tight invalidation
— Ninja (@Ninjascalp) November 21, 2021
very likely this will outperform most L1s as long as Zhu doesn't abandon ship
get rekt with me here: https://t.co/PeKbFN6eKP pic.twitter.com/y9kpWVojek
Pseudonymous cryptocurrency analyst @Rager argues that the AVAX token is undervalued at the current price of $133.79. The analyst expects AVAX price to double and compete with Solana for a spot in the top 5 cryptocurrencies by market capitalization.
Just how high can $AVAX go?
— Rager (@Rager) November 21, 2021
Currently sitting at #11 in market cap at $30B
With the amount of capital moving into Avalanche along with the increased number of projects being built to attract more users
IMO, AVAX has all the ingredients needed to move up to $SOL mcap at $60B+ pic.twitter.com/dXdOzjXYe8
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
