AVAX’s collaboration with Amazon Web Services fuels more demand, driving up prices.
The price of AVAX is up to $16.38 a new monthly high, thanks to bullish pressure.
As the market finds support at $12.32, the force of the bears is neutralized.
The Avalanche (AVAX) market has witnessed a positive uptick due to the company’s recent partnership with the cloud-computing platform Amazon Web Services (AWS), which aims to increase the widespread usage of blockchain technology.
As of press time, the strong trend in the Avalanche market had successfully lifted the AVAX price by 22.60% to $15.30.
As a result of the partnership, AWS will provide support for Avalanche’s infrastructure and decentralized apps, which will enhance demand for AVAX and boost the cryptocurrency’s popularity. It was due to this excitement that the market capitalization surged by 25.96% to $4,907,422,927 and the 24-hour trading volume jumped by 350.62% to $1,055,828,197.