Nfts
Konami adopts Avalanche to launch the NFT platform, good for AVAX?
- Konami’s partnership with Avalanche could significantly boost AVAX adoption.
- Securitization Europe has completed the first on-chain secondary transaction in Spain for tokenized financial instruments on Avalanche.
The famous game series creator Konami has kissed Avalanche (AVAX) to enter the blockchain market. Konami’s first foray into blockchain technology; the partnership seeks to create a new NFT platform called “Resella”. This alliance should significantly increase the acceptance environment for Avalanche.
See more
KONAMI is building a blockchain.
Resella, a gaming-focused L1 powered by Avalanche, is the latest innovation from a company that has been making video games for half a century.
Designed to meet the needs of game developers and users, here’s what to expect @KonamiIt’s Resella.👇 pic.twitter.com/9gs72LaSm0
– Avalanche 🔺 (@avax) June 20, 2024
Cryptocurrency Analyst Predicts AVAX Expansion
Crypto analyst Dan Johnson just tweeted his optimistic prediction for AVAX, saying it will increase after a period of price consolidation. Johnson believes that Konami’s large user base could generate a lot of interest and attract new users to the Avalanche network.
Source: Dan Johnson on X
Johnson’s predictions were evaluated in detail by looking at statistics on development activity, social volume, and sentiment. Social volume data varies widely, with significant spikes occurring around the time of the Konami alliance announcement. This suggests possible market turbulence in the short term.
Development activity data also showed multiple increases over the past few days. The sharp increase seen today is likely linked to the Konami news, which suggests a bullish market mood for the long term.
Long/Short Ratio and Market Control
A thorough analysis of Coinglass’s long/short ratio showed that only 16.12% of stocks were short and 83.33% of them were long. This suggests that bullish investors are currently dominating the market, which could be in line with the excitement over the Konami collaboration and a possible surge in market prices. AVAX.
Meanwhile, data from CoinMarketCap shows that AVAX is now worth around $27.34down 1.27% the day before. AVAX has shown a downtrend over the past seven days, falling by 9.54%.
The analyst predicts a bullish rise, and the market mood confirms it. AVAX could climb up to the $29.22 resistance zone before possibly breaking through the $39.46 mark. If the positive momentum proves insufficient, the price could retreat from the resistance zone and fall even lower.
On the other hand, a previous CNF report highlighted that Securitization Europe has just completed the first tokenized financial instrument on Avalanche on-chain secondary transactions in Spain.
Recommended for you:
No spam, no lies, only information. You can unsubscribe at any time.