Newton Gitonga
Virtual currencies recorded mixed performance after Monday’s rallies.
Bitcoin has dropped below $110,000 again after touching $111,600 high.
While the altcoin market remained somewhat muted, Avantis stole the show as its native token saw a staggering 60% upswing on its 24-hour price chart.
AVNT has jumped from $0.4703 on the daily timeframe to $0.7611 intraday high, translating to a roughly 61.86% uptick.
The bullish sentiments come as Avantis explores a defining moment in its perpetual decentralized trading journey.
The DEX’s team took it to X to celebrate crossing $100 million in total value locked.
We’ve surpassed $100M in TVL: A massive milestone in Avantis’ journey.
Avantis USDC (avUSDC) simplifies access to perpetual yields, enabling anyone to become a passive market maker.
Next up: Composable yield integrations for avUSDC.
The road to $500M TVL continues.
The milestone has stirred the cryptocurrency community as it reflects growing confidence in DeFi projects.
Moreover, the breakthrough follows a robust TVL growth since mid-last month, likely confirming the prevailing trend where perpetual decentralized exchanges gain increased traction.
Avantis has established itself as a leading project for streamlined yield generation.
Meanwhile, the achievement sparked optimism, fueling AVNT’s surges hours after the announcement.
Avantis simplifies passive income generation
The DEX announced Avantis USDC (avUSDC) a week ago to improve liquidity and increase earning potential for DeFi enthusiasts.
Precisely, the single stablecoin vault allows users to benefit from perp yield without trading or managing complex strategies.
The approach has likely resonated with seasoned and new participants, contributing to Avantis’ latest upward trajectory.
With avUSDC, people can generate passive income, similar to a compounding savings account. The team said:
Avantis USDC (avUSDC) simplifies access to perpetual yields, enabling anyone to become a passive market maker.
Avantis’ bright future
While surpassing $100 million in total value locked is impressive, the DEX remains focused on the future.
DeFiLlama data shows Avantis has a TVL of $106 million and sets sights on the half-billion-dollar mark.
The team has emphasized “the road to $500M TVL continues.”
It has highlighted innovative yield as the primary catalyst for this growth, focusing on composable yield integrations for AvantisUSDC.
That involves ensuring compatibility between the DeFi platform and Avantis’ yield system to increase earning opportunities for users.
Such integrations might boost avUSDC’s versatility and adoption as it fits into different decentralized applications (dApps).
AVNT price outlook
The digital coin is trading at $0.7202 after a slight decline from the intraday high.
AVNT has recorded an over 580% jump in daily trading volume, signaling renewed interest in Avantis.
Thus, the alt eyes further uptrend.
Sustaining the current momentum will propel AVNT to the resistance at $0.8739 and open the path toward the psychological zone at $1.
Bull will likely stretch to the $1.1849 target, translating to an approximately 65% rally from Avantis’ market price.
Nevertheless, buyers should hold above $0.55 – $0.60 to confirm bullish strength before overcoming higher resistance regions.
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