HomeCryptoLatest news on the prices of AVAX, GALA and DASH cryptos

Latest news on the prices of AVAX, GALA and DASH cryptos

Since mid-March, the crypto markets have been in a lateralisation phase with medium volatility, during which interesting things are happening: focus on AVAX, GALA and DASH.

Crypto Analysis of AVAX, GALA and DASH

Over the past month and a half, the total capitalisation of the crypto market has hovered around $1.2 trillion, after dipping below $1 trillion just before mid-March. On 18 March, the high was over $1,280 billion, while the low was $1,130 billion. 

In particular, we examine what happened to the AVAX cryptocurrencies of Avalanche, Gala and Dash. 

The performance of Avalanche (AVAX) and how it compares to the prices of the GALA and DASH cryptos

AVAX is the native cryptocurrency of the Avalanche ecosystem. 

It is a cryptocurrency that arrived on the markets just before the last big speculative bubble started to inflate, so it is not easy to analyse it without the 2021 FOMO. 

In these first four months of 2023, i.e. in the absence of FOMO, it has performed quite well, with a total gain of 56%. 

This is similar to the performance of ETH, but lower than that of BTC, for example. 

On the other hand, the Avalanche ecosystem is in fact a competitor to Ethereum, not Bitcoin. 

However, it should be noted that all of AVAX’s price growth in 2023 took place in January, as it peaked at over $22 in early February, but has not yet managed to return to that level.

Indeed, it had fallen below $15 in mid-March, only to rise back above $21 after mid-April. It is now back above $17. 

So we can see that 2023’s performance is not exceptional and is characterised by higher volatility than that of bitcoin, for example. 

What’s more, the current price is still below the $23 it reached after the Earth/Moon ecosystem implosion a year ago, so it doesn’t really look like it’s doing very well in the long term. 

Avalanche was in some ways similar to Terra, so it is fitting that it fell 68% in less than a month in May last year. However, that doesn’t explain why it took another -52% after that collapse to end at the end of 2022, when the price also fell below $11. 

It has to be said, though, that it has gained almost 55% since the bottom of the bear market, so the rebound is not all that surprising.

The GALA trend

A similar argument can be made for the GALA token. 

It is not a native cryptocurrency, but an Ethereum token, but it arrived on the crypto markets around the same time as AVAX. 

GALA’s price also exploded in 2021, making long-term analysis difficult. 

In 2023, however, it made an excellent +100%, going from $0.017 to over $0.034. 

However, as with AVAX, all the growth was concentrated in January, with the annual peak reached at the end of the month at over $0.060. 

A rise of +253% in one month was excessive and the price then began to fall. 

By mid-March it had almost halved, back to $0.031, but with a subsequent bounce back above $0.048. 

Instead, it has been falling for two weeks now, with a cumulative fall of 28%. 

It is therefore an even more volatile crypto than AVAX, as evidenced by the incredible peak of $0.836 at the height of the bubble in November 2021.

Suffice it to say that before the last major bull run began, its market value was just over $0.001. 

So, having multiplied more than 800 times in less than a year, the collapse was inevitable the moment the bubble burst. 

The current value is therefore still enormously higher than before the bubble, but it remains a token with a market value that appears to be largely speculative.

Price analysis of DASH

Dash is a completely different story. 

In fact, Dash is one of the oldest cryptocurrencies, having been launched in 2014, a year before Ethereum. 

For this very reason, it has probably not performed particularly well in terms of price over the past few years. 

Suffice it to say that the historical record is still that of December 2017, when it briefly exceeded $1,600. 

The current value of $48 is 97% below that peak, and the peak reached during the last major bull run ($408) was around four times lower than the all-time high six years ago. 

Even in 2023, its performance is not exceptional. 

It started the year at $42 and is now only at $48. 

In fact, it had surpassed $75 in February, with an excellent +78%, but in March it lost all of that gain and returned below $45. Since then it has managed to get back above $60 after mid-March, only to fall back again. 

As a benchmark, it is worth taking the value at the end of May 2022, i.e. after the implosion of the Earth/Moon ecosystem but before Celsius went bankrupt. Back then it was between $54 and $64, higher than today and in line with the highs of 2023. 

So over the long term, Dash is not a good investment, although over the very long term it is, as it was below $10 in 2016, before the last big bull run was triggered. 

However, even then, a +380% gain in just over six years is nothing out of the ordinary in the crypto world, as bitcoin, for example, is up +2,500% over the same period.

Marco Cavicchioli
Marco Cavicchioli
Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".