Avalanche was ‘undervalued’ before posting 79% weekly gain: Analysts

Avalanche (AVAX) appears to be one of the few major cryptocurrencies to buck the recent crypto decline, posting a phenomenal 79% weekly gain as others have declined.

Some analysts believe this is due to recent partnership announcements and a rise in trading volumes and total value locked, while others claim there’s been a shift in how altcoins are valued.

While Bitcoin (BTC) and Ether (ETH) saw a 6% nosedive on Dec. 11, AVAX gained 13.6% in the last 24 hours, per CoinGecko data.

Avalanche is up 79% in the past seven days. Source: TradingView

Ryan Mcmillin, the chief investment officer at Merkle Tree Capital, told Cointelegraph that much of the excitement around AVAX could be due to…

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