Guy Turner, host of the Coin Bureau YouTube channel, is expressing optimism about one blue-chip Ethereum (ETH) competitor.
In a new video, Turner tells the Coin Bureau YouTube channel’s 2.41 million subscribers that one of the key stories that will drive the next bull market is the tokenization of real-world assets.
Turner says Avalanche (AVAX)’s mission is to “tokenize all real-world assets,” so AVAX could soar up to 600% from current levels.
“With Avalanche’s focus on GameFi, we have the recipe for a truly massive rally once the cryptocurrency markets reach peak FOMO (fear of missing out).
It’s hard to say how high AVAX could go if it follows other large altcoins like Solana (SOL), but in the long run, it could push it up to 5x to 7x from current levels.”
GameFi, or gaming finance, combines decentralized finance and online gaming to enable participants to gain value from their activities.
AVAX is trading at $40.05 at the time of this writing. This is an increase of approximately 350% from the October 2023 low.
In the short term, the Coin Bureau host says the avalanche could increase by about 74% from current levels.
“(AVAX) appears to be seeing a huge uptrend on the weekly charts. Depending on how you draw the line, AVAX could rise to $70 in the coming weeks. “If macro conditions are good, prices may rise further,” he said.
But Turner warns the Avalanche could soon come under selling pressure.
“But there is only one thing to remember, and that is that the Luna Foundation Guard on Terra still holds $80 million worth of AVAX. Some of you may have recently heard the news that Terra filed for bankruptcy in the United States. This means that this AVAX is likely to be liquidated soon.”
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