Binance confirms upgrade support, but what’s in for AVAX investors

ambcrypto.com:

Binance, in the early hours of 14 October, announced that it would support the Avalanche [AVAX] network upgrade.

According to the statement by the crypto exchange, the 18 October event would not result in halting AVAX trades. However, users would not be able to withdraw or deposit the token.

In light of the development, the AVAX price increased 6.42% to $16.14 in the last 24 hours.

Here’s AMBCrypto’s Price Prediction for Avalanche

— Binance (@binance) October 14, 2022

Avalanche had had a series of testnet before the final mainnet upgrade billed for noon EDT on the date mentioned above. One such was the Fuji nodes update on 4 October.

According to the AVAX team, the network upgrade would allow for creating Proof-of-Stake (PoS) Subnets. Invariably, the upgrade would affect the AVAX P-chain wallet and hashmap.

As of this writing, Santiment showed that development activity on the AVAX chain had reduced. The available information indicated that development activity has been increasing since 30 September. The implications of this could be that AVAX was active on the upgrade during this period. 

While there was a decrease to 17.25 on 9 October, it picked up again and rose to 21.55 on 12 October. The decrease to 13.07 at press time might signal that AVAX preparedness was intact.

Still, it could seem early to presume considering that there were four other days before D-day.

Source: Santiment

This was the opposite of what happened when AVAX had its security upgrade. However, the volume seemed to follow a similar pattern.

Santiment revealed that AVAX’s volume increased 91.76% to $355.59 million in the last 24 hours. This