Bitcoin (BTC) is witnessing a tough tussle near the $58,000 mark but that has not stopped select altcoins from hitting a new all-time high. This shows that traders are watching the fundamental developments on individual coins.
One of the recent top performing major altcoins has been Avalanche (AVAX), which has soared more than 120% in November. The coin caught traders’ attention leading up to the announcement by accounting firm Deloitte which plans to build its disaster relief platforms on the Avalanche blockchain.
Crypto market data daily view. Source: Coin360
In another step that shows growing crypto adoption, El Salvador’s President Nayib Bukele announced the launch of Bitcoin city, which will be powered by geothermal energy and initially funded by $1 billion worth of Bitcoin bonds.