Avalanche has an interesting technology and a thriving ecosystem.Based on Fibonacci extensions, the token could reach $253 in the next bull run.A small pull-back is due soon, which gives us a good spot to enter the market.What is AVAX?Avalanche (AVAX-USD) is the native token of the blockchain platform Avalanche which was launched by New York-based AVA Labs in 2020. Described by its makers as a programmable smart-contracts platform for decentralized apps, Avalanche has been gaining traction in the world of cryptocurrency for its fast transaction processing times and offering users a secure and agile platform to deploy blockchains and low-cost apps.AVAX TechnologyThe Avalanche platform has three main use cases – building scalable and decentralized apps; smart assets, and customized blockchains for both public and private use. The Avalanche interface also supports decentralized trading between AVAX and other Ethereum-based (ETH-USD) tokens.The Avalanche network spans across three in-built blockchain networks – exchange, platform, and contract chains. Each of these blockchains have customized functions that make the platform agile and scalable.The exchange chain (X-Chain) is where the transactions happen. For every transaction that occurs on the X-chain, a fee is incurred which has to be paid in AVAX tokens.The contract chain (C-chain) is the blockchain where developers can build and deploy low-cost apps by leveraging the Avalanch...
