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[TL; DR]

Salvor has entered the Avalanche Rush Program which ma lead to a higher demand for NFTs and AVAX.

Salvor will enable users to use NFTs and memecoins as collateral against AVAAX loans.

The AVAAX price ma reach$100.34 b the end of 2024 and $567.06 b 2030.

Introduction

Success in the blockchain and crpto sector requires more than capital investment. Continued innovation, regulator compliance and partnerships are vital for crpto projects to excel and overcome competition. For example, partnerships among blockchain firms can improve their e-token liquidit and expand their communities. This analsis looks at Avalanches partnership with Salvor and how that can benefit the two crpto firms.

Avalanche's Partnership with Salvor to Launch an NFT Lending Platform

Salvor, which was launched as an NFT marketplace in November 2022 and later evolved into a Peer-to-peer lending protocol, recentl joined the Avalanche Rush Program, a move which will likel bring vibranc to the AVAX ecosstem. Through its NFT and memecoin lending services, Salvor will attract man investors to the blockchain which will increase its liquidit. The other features that will lure man investors are its NFT launchpad and liquidit pools.

Read also: Custom NFT Marketplace Development and its Cost in 2024

Following the partnership the Avalanche Foundation gave Salvor $1 million worth of AVAX tokens as part of the deal. Generall, through this program Salvor will accept memecoins and NFTs as collateral for AVAX loans which will boost financial flexibilit and liquidit in the Avalanche ecosstem. In the meantime, man other DeFi projects have joined the Rush Program, an important decentralied finance innovation on the Avalanche network. Through its X profile page, Avalanche posted the details of its partnership with Salvor as the image indicates. Source: x.com

Understanding the Avalanche Rush Program

In 2021, Avalanche AVAX unveiled $180 million to kickstart its Avalanche Rush, a liquidit mining incentive program, targeted at attracting man DeFi projects and related applications to its financial ecosstem. The program which was rolled out in several phases integrated Aave and Curve during its initial stages and has improved financial flexibilit in DeFi.

During that phase Avalanche distributed AVAX worth $20 million and $7 million to AAVE and Curve, respectivel. The other DeFi protocols that joined the Rush Program include Penguin Finance, Sushi, GMX and Struct Finance.

As mentioned above, the program makes borrowing of AVAX ver simple since borrowers can use memecoins and NFTs as collateral. On the other hand, the lenders can earn interest on the funds the provide. Basicall, this liquidit mining initiative enhances decentraliation and brings financial flexibilit in the Avalanche ecosstem. More importantl, Salvor brings cost efficienc to the platform as it streamlines trading through one-transaction bulk actions which saves time and reduces gas fees.

Salvors participation in the Rush Program promotes memecoin and NFT trading as well as token lending on the Avalanche blockchain. What is also interesting is that the Salvador participants earn valuable points for the different activities such as trading, loan offers and borrowing. In the end, the users will be able to redeem their points for Salvors ART token or AVAX. The aim of the financial incentive in the form of points is to increase Salvor investment, promote market engagement and stabilie AVAX valuation.

Posting on X, Salvor highlights its contribution to the Avalanche Rush Program. Utku Salvor, the Salvor founder said, We started as an NFT marketplace to make trading easier for our users. B introducing P2P NFT Lending, users can now borrow funds against their NFTs without needing to sell them. We believe this will pla a ke role in supporting health ecosstems. Our primar focus is to make NFTs more liquid."

On the other hand, Atunc Yildili, the CEO of the Avalanche Foundation has portraed the alliance as strategic. He said on X, "Salvor's participation in the Avalanche Rush Program marks a significant milestone for bridging DeFi and NFTs on Avalanche. B facilitating secured loans against NFTs, Salvor not onl potentiall enhances liquidit but also widens the scope for NFT owners to engage in the financial ecosstem without selling their assets.

Salvor, the NFT lending platform, holds more than 800 NFT collections which include big names such as Doko, Stead, MadSkull, and Chikn. In addition, Salvors NFT marketplace will attract man NFT owners to participate in the Avalanche DeFi ecosstem. Also, the peer-to-peer lending sstem will enable participants from all over the globe to provide digital asset liquidit or offer their NFT collections support.

AVAX's Price Performance amidst NFT Market Downturns

The partnership ma have a ver positive impact on the Avalanche AVAX price. This is because Salvor investment will further increase the utilit of the token as well as the liquidit of digital assets within the Avalanche-Salvor crpto sphere.

A few das after the announcement of the partnership the value of AVAX surged significantl. For instance, during the 24-hour period that stretched between 9 and 10 Ma the AVAX price rose b 4.52% from $34.32 to $35.86, which indicated an improvement in its market sentiment. During the same period its market capitaliation increased b 4.61% to reach $13,660,584,770. At the time of writing, AVAX which is trading at $37.04 gained b 13.4% within the last 30 das as the following graph indicates.
AVAX Price Performance CoinGecko

As observed in The Graph, despite the dips and bounces Avalanche AVAX has maintained a relativel high value for the past one month. Currentl, AVAX has a positive market sentiment since it has a Greed and Fear rating of 74. Irrespective of the recent alliances, Avalanche is a fast growing blockchain which hosts several decentralied applications and other smart contracts.

Based on the current blockchain and crptocurrenc market trends the NFT sector is depressed. For example, NFT revenues for April dropped b 31.26% compared to March. During March the NFT market had a total valuation of over $1.15 billion. The Bitcoin-based NFT had the highest valuation of $597.62 million despite taking a dip of 4.3% compared to March.

The trading volumes and revenues of Solana and Ethereum-based NFTs dropped tremendousl during April. NFT sales on Ethereum and Solana decreased b 56.8% and 39.4%, respectivel. The Polgon and Mthos Chains also recorded NFT sales decreases of between 4.19% and 7.46%. According to Crptoslam, the best NFT performers during April were Bitcoins Uncategoried Ordinals whose value increased over the March figures.

Avalanche AVAX Price Prediction for 2024/2025/2030

The current price predictions for AVAX are based on the effects of the recent bitcoin halving and its historical price movement. CoinCodex predicts the AVAX price to reach $122.07 b 14 June. This is possible if the value of Avalanche AVAX increases b 229.34% within the remaining time frame.

On the other hand, Changell forecasts the value of AVAX to fluctuate between $99.22 and $100.34 b the end of 2024. To achieve this value range the AVAX price should increase b about 159.9%.

In the long term, AVAX ma trade at around $175 b the end of 2025 and $152.91 b 2030 as the following table indicates. Avax Price Prediction for 2025 and 2030 - CoinCodex

As ou note from the table, AVAX will gain incrementall between now and 2030. Currentl, AVAX is edging closer to an overbought one which indicates a possible price retracement b end of Ma. AVAXs Current Market Condition - CoinCodex

On the contrar, the Changell price prediction is less optimistic than the Codex one. This analtic platform forecasts the AVAX price to fluctuate between $68.16 and $81.91 b the end of 2025. However Changell is more optimistic than CoinCodex in its long term AVAX price forecast as it indicates its value to range between $478.70 and $567.06 b 2030.

In the meantime, AVAXs ke support levels are at $33.87, $33.26 and $32.69. On the other hand, its closest ke resistance levels are at $35.05, $35.62 and $36.24. Also, AVAX is positivel correlated with Cardano (ADA), Ethereum Classic (ETC), Polkadot (DOT) and Polgon (MATIC). On the contrar, it is negativel correlated with TRON (TRX), Zeebu (ZBU), Toncoin (TON), Worldcoin (WLD) and LEO (LEO).

Conclusion

Salvors partnership with Avalanche in its Rush Program will likel increase AVAXs liquidit and NFT trading volumes. This ma also stabilie the value of the crptocurrenc due to the rise in its utilit and demand. In the meantime, some analsts predict the AVAX price to range between $152.91 and $567.06 b 2030.