Avalanche's AVAX ‘Breakout Finally Happened' After 30% Monthly Price Jump
In the last 24-hour period, AVAX's price dipped around 0.5% to $23.63, but moving the timeline to 30 days shows a major 30.3% rise, slightly outperforming the wider crypto market as measured by the CoinDesk 20 (CD20) index, which rose 30.1%.
During the rise, AVAX's volatility was accompanied by above-average volume, according to CoinDesk Research's technical analysis model.
This kind of price action, where buyers step in quickly at key levels, suggests a growing confidence among traders. The token has recently exited a multi-month descending channel, a technical pattern many traders interpret as a bullish reversal.
Some market analysts, including OKX-partnered trader Ted Pillows, have floated $32 to $35 as a possible short-term target, citing improved sentiment and chart structure. Per Pillows, the 'AVAX breakout has finally happened.'
AVAX's steady climb also comes amid a broader rebound in decentralized finance (DeFi) activity. Total value locked on its protocols, measured in AVAX, has risen from 37 million tokens in early 2025 to around 76.4 million, according to DeFiLlama data.
Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
an hour ago
- Business Insider
XXKK Exchange Upgrades Security Architecture to Enhance Asset Protection and Compliance Measures
XXKK Exchange, a global crypto trading platform, today announced the successful completion of a comprehensive upgrade to its system-wide security architecture. The upgrade enhances critical components of the platform's crypto trading engine, user account protection mechanisms, blockchain-based asset storage protocols, and compliance operations. This strategic milestone further reinforces XXKK's commitment to building a multi-layered, institution-grade defense system tailored for the evolving needs of digital asset traders, while aligning with international regulatory and Web3 infrastructure standards. As the crypto industry faces increasing and complex security threats, recent data from on-chain analytics providers shows a consistent surge in digital asset platform losses linked to smart contract vulnerabilities, permission mismanagement, and asset flow exploits—particularly across DeFi protocols and cross-chain bridges. Despite maintaining a zero major incident track record, XXKK Exchange continues to embrace a proactive, prevention-first security philosophy. The platform prioritizes systemic resilience over reactive patching, underscoring its long-term investment in sustainable blockchain security governance. The current upgrade includes five core components: 1. Trading System: A modular, permission-tiered architecture has been implemented across matching engines, risk management modules, and transaction processing channels. This architecture minimizes lateral threat propagation and enables fault-tolerant scaling of the digital asset trading environment. 2. Key and Asset Management: A new generation of Hardware Security Modules (HSMs) has been deployed to manage cold and hot wallet private keys, supplemented by multi-signature protocols and routine key rotation. An on-platform asset protection fund has also been established, offering up to one million USD in compensation for user losses resulting from platform-level failures. 3. User Account Security: Enhanced two-factor authentication (2FA) protocols and behavioral login modeling have been rolled out, in parallel with real-time detection of high-risk wallet addresses using on-chain reputation analysis. 4. Real-Time Risk Engine: A dynamic, behavior-based risk engine continuously monitors blockchain activity, withdrawal flows, and API traffic. The system automatically triggers throttling, freezing, or internal audits in response to suspicious operations — fortifying protection against DeFi attack vectors. 5. Compliance and Transparency: The exchange launched a quarterly penetration testing program and engaged with third-party audit firms to initiate SOC 2 Type I certification procedures. These actions form the foundation of XXKK's long-term goal to establish a transparent, standards-based crypto audit trail. Emmalyn, Head of XXKK Exchange, commented: 'User fund protection cannot rely on promises alone. It must be underpinned by real technical strength. At XXKK, we have built a resilient security architecture that incorporates encrypted asset segregation, tiered access controls, risk modeling, and continuous auditing. We have also introduced a platform-level compensation mechanism to ensure robust financial recourse in the rare event of system failure.' She added: 'As the platform scales globally, security is no longer a reactive function—it is the foundation of our infrastructure design. We will continue investing in automated defense systems, compliance frameworks, and user risk awareness initiatives to ensure zero incident operations across all market conditions.' As the global regulatory wave intensifies, XXKK Exchange proactively launched its compliance roadmap. It obtained the following: U.S. MSB (Money Services Business) registration on August 5, 2022, license number: 31000222694535; Canadian MSB (Money Services Business) authorization on September 8, 2022, license number: M22420435; Saint Vincent FSA (Financial Services Authority) license on January 23, 2024, license number: 3393. Additionally, XXKK Exchange is preparing to publish its first Annual Security and Transparency Report later this year. The report will include: Proof of Reserves (PoR), Emergency response protocols, Third-party security partnerships, and Internal control enforcement disclosures. XXKK Exchange is committed to delivering both technical and institutional safeguards for user funds. With the support of a dedicated asset protection fund, the platform aims to achieve its operational goal of 'zero user losses.' About XXKK Exchange XXKK Exchange is a globally leading multi-asset crypto platform, founded by a team of seasoned professionals with extensive experience in traditional finance and blockchain technology. The platform bridges the worlds of traditional finance and Web3 through a robust matrix of innovative products and an institution-grade security system. 2025 XXKK Exchange. All rights reserved.
Yahoo
5 hours ago
- Yahoo
ICP Falls Sharply From $5.76 High Amid Renewed Bearish Pressure
Internet Computer (ICP) experienced a sharp reversal after climbing to $5.76, with the token falling to $5.59 under renewed bearish pressure. The move capped a volatile 24-hour window in which prices swung between $5.28 and $5.76 - a range of 8.3%, according to CoinDesk's techincal analysis data model. Bulls briefly pushed prices to the upper end of the corridor before bears reasserted control, sending prices lower on rising volume. Heavy selling emerged after the price touched $5.76, with a 42-minute slide to $5.66 forming a notable rejection. Volume surged earlier in the day, with a key upward move from $5.28 to $5.72 driven by 897,725 tokens traded - well above the daily average. Despite the rally, momentum faded quickly once resistance was retested. While the price action showed clear technical rejection near upper bounds, Internet Computer remains fundamentally strong. ICP leads all blockchains in GitHub development activity, surpassing Chainlink and Filecoin, Santiment said in its latest monthly ranking. ICP's development lead underscores persistent ecosystem growth and team commitment, even as market participants appear hesitant to chase recent price highs. Analysts point to the confluence of technical resistance and a cautious broader market as drivers of the retreat. Technical Analysis Price Range: Swung between $5.28 and $5.76, an 8.3% intraday spread. Resistance: $5.76 capped upside momentum with visible rejection. Support: Strong support confirmed at $5.28 amid early accumulation. Volume Spike: 897,725 tokens traded during rebound from intraday low. Sell-Off Window: Declined from $5.76 to $5.66 between 15:08–15:50 UTC. Near-Term Support: $5.66 emerged as a floor following bearish move. Trading Activity: Final minutes saw trading volume fade, signaling pause. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 hours ago
- Yahoo
BONK Jumps 6.5% as Solana-Based Meme Token Captures Market Share
BONK posted a strong recovery on July 24, gaining 6.5% in value from $0.0000335 to $0.0000357 during the 24-hour window ending 14:00 UTC. The Solana-based meme token rebounded from an earlier dip to $0.0000311, recording an 18% trading range before closing near its daily highs. Price action was fueled by renewed institutional interest and mounting traction across the BONK ecosystem. The recent Solana developer proposal to increase block size by 66% has injected fresh momentum into the BONK market, reinforcing the meme token's bullish trajectory. As Solana's network scales to accommodate rising demand, BONK—built natively on the blockchain - stands to benefit directly from enhanced throughput and lower latency. This infrastructure upgrade signals long-term confidence in Solana's capacity to support high-volume applications like BONK's LetsBonk platform, which has already captured 64% of the meme token launchpad market. Trading volume exceeded 2.1 trillion tokens during key recovery phases, with accumulation patterns evident at the $0.000032 support zone. Notably, the price pushed toward resistance at $0.000037 before encountering a profit-taking selloff to consolidate around $0.0000363. Amid broader crypto market rotation, BONK's performance stood out as institutional investors and retail participants pivoted to alternative assets. The meme token's sustained upside momentum and expanding utility base suggest resilience as market participants seek exposure to higher-beta assets during periods of macroeconomic uncertainty. Technical Analysis BONK traded between $0.0000311 and $0.0000363, marking an 18% intraday swing. Strong support confirmed near $0.000032; resistance solidified near $0.000037. Volume surpassed 2.1 trillion tokens during recovery and breakout phases. Institutional accumulation was visible during key dips throughout the session. Late-session volume spike of 39 billion tokens occurred between 13:58–14:01 UTC. Trading narrowed to a 3% band ($0.000035–$0.000036) in final hour of analysis. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. 登入存取你的投資組合
