• 14 July, 2024
News

Avalanche Emerges as Exclusive Blockchain Partner for TSM, Replacing FTX: AVAX Consolidates at $16.0 level

Avalanche has recently announced a deal with TSM, the well-known esports organization, to become its exclusive blockchain partner. The partnership is expected to bring additional visibility and adoption of AVAX to gamers and esports fanatics all around the world.

The move comes shortly after FTX’s $210 million naming rights deal with TSM was canceled following the FTX CRASH. This may have caused a significant blow to FTT, the native token of FTX, as traders and investors speculated on its future.

TSM, the global leader in esports, video games, and creators, has teamed up with Blitz to leverage Avalanche – a pioneering blockchain platform – to revolutionize the gaming industry. This collaboration names Avalanche as the Exclusive Blockchain Partner for both TSM and Blitz.

The collaboration between Avalanche and TSM will give gamers the opportunity to improve their skills with performance insights, learning tools, and prizes on Blitz’s gaming app.

With 30 million users already accessing its Subnet, Avalanche is uniquely poised to provide heightened speed, security, and scalability for the platform. Through a series of branded tournaments hosted by TSM on the Blitz Subnet, players can test their abilities against one another in an exciting new arena – Blitz Arena.

TSM and Blitz are blazing a trail with Subnets that use $AVAX. For instance, when gamers make transactions on the Blitz Subnet, fees will be paid in $AVAX, burning part of the fees each time. Looking forward to the future, we anticipate evolving this Subnet into an Elastic form that enables greater community participation by permitting users to validate it.

AVAX/USD Technical Analysis

At the time of writing, AVAX is trading at $16.00 after consolidating in a tightly range-bound channel between $14.6 and $17.8 levels. The coin is highly volatile and has been subjected to wild price swings in the past few weeks.

The RSI indicator, which measures momentum levels, remains neutral as it oscillates in a range between 40 and 60. However, the MACD signal line is still finding support from above the midline and could be on its way to generating a bullish crossover.

AVAX/USD daily candle chart: Coinmarketcap

The critical resistance level to look out for is at $17.8, above which AVAX could make a sharp move higher and possibly continue its upswing toward the next target of $20.00. The immediate support levels are seen at $14.6, followed by $12.80, which can be used as stop loss levels for long positions.

About TSM and Blitz

TSM is a comprehensive gaming brand, providing gamers with the ultimate fan experience through elite esports teams and world-class influencers.

Moreover, our platforms offer strategies that can help level up all types of players – from casual to professional! With this platform of champions, we strive to deliver maximum value by showcasing competitive excellence and creating educational content that enhances the entertainment factor.

Blitz, the ultimate game-improvement platform, is entirely free and can help players of all abilities everywhere to improve their skills. With its data-driven AI technology, Blitz offers gamers insight into how they can enhance their performance across a variety of titles. It’s an entertaining way for everyone to become better at what they love.

Looking ahead, Avalanche’s price might rebound and reach a new high if the partnership with TSM brings more recognition from esports fanatics.

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