AVAX Surges Over 6%, Exceeding 40 Dollars Mark in Anticipation of Durango Upgrade

Crypto News- The Avalanche (AVAX) altcoin has been on a solid uptrend, marking a robust gain of over 21% in the past week alone. At the time of writing, AVAX is trading at $41.30, showcasing a 6.2% increase, and boasts a market cap of $15.1 billion.

Following a minor setback earlier this week, AVAX swiftly regained its momentum, riding the wave of positive sentiment across the broader crypto market. The bullish trajectory of Avalanche (AVAX) is evident as it rallies back from a significant correction experienced during the Christmas season of 2023. As the wider altcoin market displays signs of resurgence, AVAX stands poised for further growth.

AVAX Surges Over 6%, Exceeding 40 Dollars Mark in Anticipation of Durango Upgrade

It’s worth noting the considerable volatility that Avalanche has witnessed recently, frequently retracing to a support level just above $30 since the start of the year. On January 23, it hit its lowest point of 2024, bottoming out at $27.85. However, February has seen a swift recovery.

Today marks a significant event for AVAX with the impending Durango upgrade scheduled for implementation later in the day on February 13. This follows the release of pre-upgrade code earlier this month. Slated to activate on the Fuji Testnet at 11 AM ET, the Durango upgrade holds pivotal importance for the Avalanche network.

The primary objective of the Durango upgrade is to enhance cross-chain communication and bolster the network’s scalability, paving the way for its mainnet release. Additionally, developers will introduce the Avalanche Warp Messaging (AWM) feature, facilitating improved on-chain and cross-chain communication.

These advancements herald a more interconnected and resilient network for the Avalanche community, fostering seamless interoperability among protocols on the platform.