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On January 12, Trump denied involvement in the Justice Departments subpoena of the Federal Reserve. Speaking about Fed Chairman Powell, he said, "I have no idea about it, but hes clearly not doing well at the Fed, and hes not good at managing construction projects." Trump stated that the Justice Department subpoena was unrelated to interest rates: "No, I would never even consider putting pressure on him that way. What should really be putting pressure on him is the fact that interest rates are too high; thats the only pressure hes under." He added, "Hes hurt a lot of people, and I think the public is putting pressure on him."Hong Kong-listed application software stocks continued their upward trend, with Weimob Group (02013.HK) rising nearly 17%, China Youzan (08083.HK) rising over 10%, and Kingdee International (00268.HK) and Inspur Digital Enterprise (00596.HK) following suit.On January 12th, the National Development and Reform Commission (NDRC) and three other departments jointly released the "Working Measures on Strengthening the Planning and Investment Direction Guidance of Government Investment Funds." An official from the NDRC stated that this is the first time that the layout and investment direction of government investment funds have been systematically regulated at the national level. Regarding optimizing fund layout, the measures require funds to support major strategies, key areas, and weak links where the market cannot effectively allocate resources, promote the deep integration of technological and industrial innovation, focus on cultivating emerging pillar industries, and adhere to the principles of early investment, small-scale investment, long-term investment, and investment in hard technologies. The NDRC official also stated that in recent years, some government investment funds have encountered problems in their establishment and operation, such as mismatch with local resource endowments and industrial foundations, unclear fund positioning, and homogeneous investment directions. In response to these situations, the "Working Measures" clearly define the functional positioning and investment priorities of national-level funds and local funds.According to Futures News on January 12, as of 09:30 Beijing time, WTI crude oil futures fell 0.05%, while US natural gas futures rose 2.08%.U.S. Republican Senator Tillis: If there were any doubts before that advisors within the Trump administration were actively pushing to end the independence of the Federal Reserve, there should be no doubt now.

After Avalanche’s 20% Weekly Spike, Can AVAX Reclaim the $35 Level?

Skylar Shaw

Aug 11, 2022 12:00

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After the altcoin's recent 30% price increase from the $22 level, Avalanche (AVAX) has been on the watchlists of the majority of cryptocurrency traders. AVAX was trading at $29.06 at the time of writing and has recaptured position 12 in the market capitalization ranking of cryptocurrencies, showing a 5% increase on the daily chart.


Many in the market anticipate another wave of price growth for AVAX toward the $35 level with higher market gains. What lies ahead for Avalanche now that its basics seem to be solid?

New Avalanche Achievements

The Avalanche network achieved a new milestone on August 9 during the last trading hours of the Asian session, when the currency had its greatest daily transaction volume ever. As the indicator crossed the 1.51 million transaction threshold, the daily transaction count for AVAX achieved an all-time high.


It wasn't the most remarkable item, but the huge transaction volume suggested more enthusiasm or hope in the market for the ecosystem. The fact that AVAX had more transactions on August 9 than Ethereum, Arbitrum, and Optimism all together was one of the funniest aspects about the coin's high transaction volume.


The price increase for AVAX began to gain steam around August 6 with a 9% increase. Many cryptocurrency observers believed that the development of Avalanche-based NFTs was the primary cause of the coin's upward momentum.


The trading volumes of NFTs based on Avalanche increased 30% on August 9. Additionally, NFT sales showed a nearly 10% increase within the same period.


Robinhood also declared support for Avalanche and Stellar (XLM), which contributed to the positive momentum's expansion.


AVAX Bulls Eye the $35 Level AVAX's price recently reached a low of $13.75; nevertheless, the coin's rapid rebound has given investors in tokens cause for confidence.


Notably, AVAX shown remarkable signals of recovery from the longer-term decline the cryptocurrency has seen for more than four months. The bullish reversal has increased the altcoin's price by almost 110% from June 2022, when it was at a lower price point.


AVAX's price rising over the crucial $30 threshold may help bulls' market momentum in the near future.


The $36 and $51 levels would be the next resistances in the near future for AVAX that bears might hold.


However, daily trading volume increased by 22% during the previous 24 hours from press time, indicating a revival of retail momentum for AVAX. Since AVAX's price surged over the crucial $28 barrier, there is a good probability that the coin will reach the $35 level unless bears seize the initiative.

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