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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    PENGU token loses 20% in August amid Pudgy Party game launch

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    PENGU token loses 20% in August amid Pudgy Party game launch

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

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    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

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    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

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    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

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    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    Pudgy Penguins Game ‘Pudgy Party’ Launches on iOS and Android

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    Stability World AI Adds Games to Transform the Future of Web3 Gaming

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  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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  • Guides
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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What is Cloud Mining? A Beginner’s Guide

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    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

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    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

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    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

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    What Is Crypto Arbitrage and How to Use It in Trading?

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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Home Altcoins

How Avalanche outperformed Bitcoin with the most YTD profits

December 13, 2023
in Altcoins
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How Chainlink’s price spike is affecting its supply
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Posted: December 13, 2023


  • BTC and AVAX have had an over 100% increase in value YTD.
  • Bitcoin and Avalanche have seen a decline in volume in the last 24 hours.

Bitcoin [BTC] has experienced notable price increases recently, generating excitement among its holders. However, recent data from IntoTheBlock suggested that Avalanche [AVAX] has outperformed even the leading cryptocurrency.

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?

Avalanche bests Bitcoin in YTD profit

Analyzing the Bitcoin daily timeframe chart from August showed a substantial increase in value, with the price increasing by over 39% during this period.

Starting at around $29,793 on the 1st of August, its press time price was over $40,900, marking a gain of over $10,000.

Despite a current decrease of over 1%, it maintained the $40,000 price range. Year to date (YTD), Bitcoin has seen an impressive overall increase of around 138%, even with the recent decline.

Bitcoin price trend

Source: TradingView

While Bitcoin’s performance is noteworthy, Avalanche has shown an even more remarkable YTD gain. Data showed that AVAX has experienced growth of around 170%. 

Examining the daily timeframe chart from 1st August to the present, AVAX’s value has increased by about 166%. This surpassed the increase in Bitcoin during the same period by over four times.

However, like BTC, AVAX has recently paused its rise, with a current decline of over 6%. Despite this, it continued to trade at around $34.9, maintaining a position above the $30 price range.

Avalanche price trend

Source: TradingView

Bitcoin traders show more confidence 

Data from Coinglass showed that the recent downturn in Bitcoin and Avalanche has elicited varied responses from traders.

See also  Bitcoin NFTs Skyrocket With $425M in Sales This Week; Key Collections Cement Strong Floor Values

The funding rate for Bitcoin initially dropped, although it remained positive. However, the latest data showed a subsequent increase, currently standing at around 0.02%.

This suggested that traders anticipate the conclusion of the price decline and foresee a forthcoming upward trend.

On the other hand, the funding rate for AVAX experienced a decline similar to that of Bitcoin. However, unlike Bitcoin, the funding rate for AVAX has not rebounded from its recent decrease, though it remained positive.

At the time of this writing, the funding rate for AVAX was around 0.01%, down from around 0.03%. This showed that traders were exercising caution and lacked strong confidence in an imminent price rise.

BTC and AVAX volume cool down

According to data from CoinMarketCap, Bitcoin and Avalanche have experienced decreases in their trading volumes over the last 24 hours. As of this writing, the volume of BTC was around $25 billion. 


 Read Bitcoin (BTC) Price Prediction 2023-24


However, the data showed a significant decline of over 20% in the past 24 hours.

Similarly, AVAX’s volume was currently over $2 billion, with a notable decrease of around 34% in the same time frame. The decline in trading volume implies a waning interest in these assets. 

Tags: AvalancheBitcoinoutperformedprofitsYTD

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    This is the stripe of glad I take advantage of reading. http://ledyardmachine.com/forum/User-Tjdmvm

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