Avalanche holds above $30 despite politics-driven crypto dip

Avalanche (AVAX) remains above the $30 mark despite the recent dip in the crypto market caused by US politics news. AVAX has shown resilience and is expected to continue gaining momentum. The altcoin’s price reached around $31.93 on Monday and has remained in double digits in the last 24 hours. The dip in the crypto market occurred after President Joe Biden announced that he will not be running for re-election in 2024 and endorsed Kamala Harris as his successor. This announcement caused a slight panic among investors, leading to a drop in prices for Bitcoin, Ethereum, Solana, and other top altcoins. The market reaction following the news is reminiscent of the reaction that occurred after the assassination attempt on former president Donald Trump, indicating that US politics has a significant impact on cryptocurrency prices. Despite these fluctuations, Avalanche has experienced positive developments, such as partnerships and integrations with Stripe and MapleStory Universe, leading to significant surges in its price. The upcoming Avalanche Summit LATAM in Buenos Aires also holds promise for the blockchain platform. Overall, Avalanche looks poised for further gains in the market.