The Crypto Market Dip Continues, But Avalanche and BNB Remain Hot. Here’s Why

Over the last week, the crypto market has been on a decline, with the Bitcoin price dropping as low as $111,000. Avalanche (AVAX) and Binance Coin (BNB) have both shown strong bullish movements through the market dip.

The recent rebrand of Agriforce to AVAX One, along with its $550 million Avalanche Treasury plans, has kept the price of AVAX bullish. Meanwhile, BNB has been rising due to the growth of the BNB chain and a strong technical outlook. Let’s see if these coins can extend the gains.

AVAX Pumps As Agrifore Announce $550 Million Avalanche Treasury

Avalanche (AVAX) has been one of the strongest performers in the crypto market this week, even while other altcoins stumbled. On the 7D chart, the price of Avalanche has increased by more than 14%.

Since the beginning of September, the AVAX price has increased from $22.75 to briefly hit the $36 mark, before retracing to trade around the $34.7 range. One of the major drivers of this rally has been AgriFORCE Growing Systems’ decision to pursue an Avalanche token treasury.

AgriFORCE has been rebranded to AVAX One and has announced that it will raise $550 million in a bid to build an Avalanche treasury, starting with token purchases of over $700 million. In addition to this, WLFI adviser Ogle has opened a $2.2 million long position on Avalanche with 10x leverage.

The growing institutional belief in Avalanche is backed by Avalanche’s DeFi growth. In the last 30 days, the Avalanche network has added 33 projects, with its TVL increasing by 12.11% to reach $2.25 billion. With the network growth, Tom Tucker has predicted that the AVAX price could rally to  $55 soon.

BNB Remains Hot As Network Growth Continues

While Bitcoin has been declining, the price of BNB has formed multiple all-time highs over the last two weeks, with the latest being at $1,079. The BNB price has also remained strong above the $1,000 support. 

One of the major fuels behind the BNB price rally is the emergence of Aster. The rise of the decentralized perpetual futures exchange, Aster on the BNB Chain, as a competitor of the leading Hyperliquid, has increased activity on the blockchain.

In addition, validators on the BNB Chain have proposed to cut transaction fees in half to around $0.001 to compete with Solana and Base. Thanks to the strong growing activity, the BNB price has weathered the crypto dip and looks to continue its climb.

With the BNB price holding strongly above $1,000, More Crypto Online has predicted that the BNB price could continue to climb and potentially peak as high as $1,200. Calling it the BNB season, Degen Ape Trader says that traders can go long on BNB to $1,220 with some confidence.

Can BNB and AVAX Continue the Rally?

The strong performance of BNB and Avalanche over the last few weeks highlights the power of strong fundamentals and network growth even in a bearish market. If these trends continue, these altcoins could continue to rise, or at least, perform better than other altcoins during this correction phase.