A 100% surge propels Avalanche (AVAX) to the top 10 cryptocurrencies

Alisha Dar
12 Dec 2023
Avalanche (AVAX) surges 101% in 30 days, outperforming major cryptocurrencies, due to its selection as the main platform for secure certificates in India by IEEE and LegitDoc.

Avalanche (AVAX) has garnered significant attention from cryptocurrency investors, experiencing a remarkable 101% surge in the past 30 days and securing a spot in the top 10 based on market capitalization.

AVAX has outperformed major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) in terms of price movement, as well as other altcoins like Polygon (MATIC) and Polkadot (DOT). The surge is attributed to its recent selection as the main platform for issuing secure certificates in India by the Institute of Electrical and Electronics Engineers (IEEE), in collaboration with LegitDoc.

The decision to use Avalanche's C-Chain as the primary settlement layer is rooted in its compatibility with the Ethereum Virtual Machine (EVM), making it a facilitator for deploying widely used applications such as credential registries and identity management. This strategic selection by IEEE and the preference of top institutions like SK Planet and JP Morgan Onyx for Avalanche may have contributed to the massive surge.

AVAX also hit a new 52-week high, reaching $26.96 as of December 6, 2023, for the first time since August 2022.

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