Can you afford to ignore the Avalanche (AVAX) bullish chart and the Chainlink (LINK) token use surge?

AVAX has confirmed a breakout with strong user growth, while LINK is powering DeFi and cross-chain solutions.

Avalanche (AVAX) has confirmed a breakout with strong user growth, while Chainlink (LINK) token use is surging.

What Happened: The Avalanche (AVAX) chart has broken above a long-term descending wedge pattern, which could open up 100%–150% gains for the network.

Bankless pointed out the technical breakout is setting up the potential for a move to $37 to $41, while major crypto hedge funds are already paying attention to the network’s strong fundamentals.

To put the user growth in perspective, daily active users on the Avalanche network surged more than 680% in 30 days. Stablecoin transfer volumes on the network are now at $1.3 billion daily, showcasing the active capital flows.

The network is also rapidly expanding with the upcoming Avalanche Summit in London set to bring new updates, partnerships, and attract developers and investors to the ecosystem.

If AVAX can maintain momentum above the $22.50 support level, it may continue towards higher targets, making it a strong choice for those seeking promising altcoins with a solid fundamentals trajectory.

Related: Best Chainlink (LINK) Price Predictions For 2024

Why It’s Important: Chainlink (LINK) token use is increasing thanks to the Chromion Hackathon, a global event where developers are invited to build decentralized applications in DeFi, AI, and tokenization using Chainlink’s oracle solutions.

At the hackathon, participants have access to advanced developer tools, APIs, and mentorship to spur the development of next-generation blockchain solutions. The event aims to unlock scalable cross-chain solutions, ranging from real-world asset tokenization to AI smart contracts.

However, LINK’s story extends far beyond events and hackathons.

Beyond its role in providing oracles, LINK underpins numerous decentralized applications, delivering seamless integration of secure data feeds, sophisticated smart contract functionality, and cross-chain interoperability. This versatility makes Chainlink indispensable in the ever-evolving blockchain ecosystem.

As the Chromion Hackathon generates new projects and fosters innovation, demand for LINK is expected to rise accordingly.

This focus on real-world use cases and increasing adoption will strengthen Chainlink’s status as a top blockchain solution in the competitive crypto landscape.