AVAX price rallies after Avalanche development incentive and mainnet upgrade announcement

A $40 million developer incentive and upcoming mainnet upgrade translated to price upside for AVAX.

AVAX, the native token of the Avalanche ecosystem, has shown resilience, rising 3.45% over the last 24 hours amid increasing excitement about the blockchain’s first major upgrade.

According to data from Cointelegraph Markets Pro and TradingView, the AVAX token smashed through the barrier posed by the 200-day exponential moving average (EMA) on Sept. 26 to reach an intraday high of $29.10. At the time of publication, the layer 1 token trades at $28.91, up 10% over the last week and 12.5% over the last 30 days.

AVAX/USD daily chart. Source: TradingView

A $40 million developer incentive and upcoming mainnet upgrade translated to price upside for AVAX.
AVAX, the native token of the Avalanche ecosystem, has shown resilience, rising 3.45% over the last 24 hours amid increasing excitement about the blockchain’s first major upgrade.According to data from Cointelegraph Markets Pro and TradingView, the AVAX token smashed through the barrier posed by the 200-day exponential moving average (EMA) on Sept. 26 to reach an intraday high of $29.10. At the time of publication, the layer 1 token trades at $28.91, up 10% over the last week and 12.5% over the last 30 days.AVAX/USD daily chart. Source: TradingViewRead more