- Avalanche launched a Visa-compatible crypto card that allows users to make payments.
- AVAX is experiencing price fluctuations, trading around $28.
Avalanche has recently introduced a new payment option with the launch of the Avalanche Card, allowing users to make cryptocurrency payments at any Visa-accepting location. This payment option encourages the use of virtual currencies in our daily activities by accepting them as legal forms of tender. The card is also available in both physical and digital forms and can be used with a number of cryptos like WAVAX, USDC, and sAVAX.
Introducing the Avalanche Card! 🔺
Spend your WAVAX, USDC, sAVAX, and more wherever Visa is accepted.
Enjoy both physical and virtual cards, 24/7 dedicated support, and seamless transactions through popular apps.
The future starts now! Join the waitlist and check out the full… pic.twitter.com/NUmW93sX5P
— Avalanche Foundation 🔺 (@AvalancheFDN) October 21, 2024
The launch focuses on users in the Latin American and Caribbean regions as the Avalanche Foundation aims to enhance financial integration. This is in line with the Foundation’s goal of enabling easy adoption of cryptocurrencies for payment purposes, both through online and physical channels.
The Avalanche Card is set to influence AVAX’s market performance since it will boost its utility while making Avalanche a significant participant in the world of digital payments. The availability of the card in emerging markets can create more users and make the altcoin more attractive.
Avalanche Introduces $40 Million Developer Grant Program
Besides, the Avalanche Foundation recently announced the Avalanche Card and a $40 million grant program for developers creating applications on the Avalanche blockchain. Dubbed Retro9000, the program offers incentives for the development of new dApps on the network, with a focus on layer-1 blockchain solutions.
This grant initiative was announced right before the Avalanche9000 upgrade, which is expected to be the biggest upgrade since the mainnet launch in 2020. The upgrade aims to increase the system’s capacity, lower the cost per transaction, and improve the developers’ experience. With Retro9000, the Foundation wants to expand the ecosystem of Avalanche by drawing more developers to the platform.
The Avalanche9000 upgrade and the Retro9000 grant program are a clear example of how the Foundation seeks to encourage development in the blockchain sector. Through providing funding, Avalanche aims to incentivize project development that will add value to the network and expand its applications.
AVAX Price Performance
Avalanche’s native token, AVAX, has been trading at around $28, reflecting fluctuations in the broader crypto market. In the last 24 hours, AVAX was trading at its lowest at $27.41 and hit a high of $29.03. The token is currently trading at $27.45, which is a 3.86% drop over the last 24 hours.
The recent correction in the crypto market following changes in Bitcoin price to $67,000 and Ethereum to $2,600 has affected the price movements of AVAX. Despite the bearish trends seen in the market, there is still some hope for a short-term rally to occur. Avalanche remains strong at key support levels and this could be crucial to the price action of the token in the following weeks.
Despite recent market fluctuations, sentiment around AVAX remains optimistic. The launch of the Avalanche Card and the Foundation’s continued investment in network improvements have contributed to this positive outlook.
