In a bid to boost optimism, the Avalanche community recently announced that it has begun talks with the incoming US administration, sparking market discussions globally. Ava Labs CEO Emin Gün Sirer announced on Monday that Ava Labs is in talks with the Trump administration. In turn, crypto enthusiasts are expecting a bullish impact on the AVAX coin price, with a potential $50 target looming on the horizon.
Avalanche begins talks with incoming US administration sparking optimism
The CEO of AVA Labs took to the stage to address concerns from the broader crypto community surrounding the firm’s talks with the US administration. On December 2nd, Emin Gün Sirer revealed that Avalanche was in talks with the new US administration, pointing to the firm’s efforts to introduce a revolutionary measure in light of the win of pro-crypto Donald Trump. In his X post, the CEO stated the following:
You won’t see us showing our political affiliations on social media. Only suddenly, you will see results in full Avalanche style.
Ripple also in talks with Trump
After Ripple’s CEO said that the firm is in talks with the Trump administration, in another similar chronicle, XRP has emerged as the talk of the crypto town. XRP price is rising against the backdrop of legal maneuvers in Ripple’s favor and speculation that CEO Brad Garlinghouse would be the best choice for the rumored “Crypto Czar” position under Trump’s administration. This chronicle has also triggered waves of optimism surrounding AVAX.
Will AVAX coin rise?
In line with the aforementioned optimistic event, the AVAX price has risen by about 5 percent in the past day. At the time of writing, its price is at $47.17. The coin’s 24-hour low and high were $43.91 and $48.98, respectively. Notably, the recent upward movement is in line with the Avalanche community starting talks with the new US administration Donald Trump. Also, the crypto’s 24-hour trading volume rose 151 percent to $1.83 billion. Given that Trump will remain in office next year, market enthusiasts are intensively watching the coin for further gains.
Meanwhile, some experts have revealed bullish expectations for AVAX coin. This was because an important development would take place on the Avalanche network. This bullish expectation comes on the back of the recent Avalanche9000 testnet upgrade. Overall, recent market events have painted a very bullish scenario for the long-term prospects of the Ava Labs-backed token. Avalanche (AVAX) is a blockchain network that uses a proof-of-stake consensus algorithm called the Snowman Consensus Protocol. The blockchain allows developers to build and distribute third-party decentralized applications. AVAX is the native token of the Avalanche blockchain.
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