A new report by digital asset management firm Galaxy Digital states that Avalanche (AVAX) is making significant strides towards corporate adoption.

The report drew attention to the collaborations developed by Ava Labs, the technology company that developed Avalanche, with many institutions from the traditional financial system.

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It Already Has a Role in the DeFi Ecosystem

The report shows that popular smart contract platform Avalanche already has an important role in the decentralized finance (DeFi) ecosystem. Stating that Ava Labs, the technology company that developed Avalanche, has also taken important steps, Galaxy Digital listed various examples stating that the company is also collaborating with many institutions in the traditional financial system.

Current View on Avalanche (AVAX)

The leading cryptocurrency Bitcoin started to record depreciation, falling to the price levels of $ 34,500, with Russia starting a military operation against Ukraine. This depreciation in Bitcoin also gave a strong downward momentum to the cryptocurrency market. In this context, AVAX also declined to $65 price levels after its depreciation and approached critical support levels significantly.

However, with the recovery of the market to a certain extent, AVAX turned its direction up again. According to CoinMarketCap data, Avalanche (AVAX) recorded an average of 7% upward movement in the last 24-hour period and started trading at $80 price levels again.

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2022, 2025, 2029 Avalanche (AVAX) Price Prospects

According to the Avalanche price projection of algorithm-based forecasting site Wallet Investor, AVAX could trade at $184.97 in a year. The site estimates that the average price could rise to $659.55 within five years.

DigitalCoin's AVAX forecast says the price will average $95.1 in 2022 and rise to an average of $157.36 in 2025 based on historical data. According to the website, the price could rise to $136.71 in 2026, $184.19 in 2027, and an average of $291.53 in 2029.

PricePrediction thinks more positively for AVAX in the long run. According to them, AVAX will be $102.04 in 2022. In 2025, it will increase to $284.02.

According to the report, the price could rise to $2,136.62 by 2030. According to the Economy Forecast algorithm, the AVAX price can reach $132.6 in December 2022, then $148 by the end of 2023 and $157 by December 2025.