Coinbase launches USDC trading on Avalanche

On Dec 13, 2022

Crypto exchange Coinbase now supports the native trading of USDC on Avalanche.
AVAX is the best performer amongst the top 20 cryptocurrencies by market cap today.
The broader market has recovered after a poor start to the week.

Coinbase supports USDC trading on Avalanche

Coinbase, one of the leading crypto exchanges in the world, announced on Monday, that it had launched the ability to trade native USDC (USDC) on Avalanche. This means that the USDC stablecoin on Coinbase will now be available on Avalanche.

We’ve launched the ability to trade native USDC (USDC) on Avalanche. One of the most trusted and reputable digital dollars is now more flexible than ever. Keep an eye out for additional multi-chain availability. Note: deposits of USDC.e are not supported at this time. pic.twitter.com/W0vSGMRNac
— Coinbase Assets (@CoinbaseAssets) December 12, 2022

This latest cryptocurrency news has seen AVAX, the native token of the Avalanche network, become the best performer amongst the top 20 cryptocurrencies by market cap. At press time, the price of Avalanche stands at $13.81, up by more than 8% in the last 24 hours.

The broader crypto market has also recovered from the slump suffered yesterday. The total crypto market cap now stands at $872 billion, up by more than 3.5% in the past 24 hours.

Bitcoin and Ether have been performing well, and are up by 5% and 6%, respectively, so far today.

Key levels to watch

The AVAX/USD 4-hour chart is turning bullish as Avalanche has been performing well in the last couple of hours. The technical indicators show that it could soon turn bullish as the market recovery continues.

The MACD line is closing in on the positive territory, indicating that the bulls are taking charge of the AVAX market. The 14-day RSI of 67 also shows that AVAX could soon enter the overbought region if the rally continues. AVAX could move past the first major resistance level at $15.22 over the next few hours.

In the event of an extended rally, AVAX could make a move toward the $17.43 resistance level for the first time in a month. However, it would need the help of the broader crypto market to make an attempt for the $20 psychological level in the near term.