As the market continues its upward rally, Avalanche (AVAX) continues to attract investor interest as fresh developments drive the platform’s growth. Since then, developments have put AVAX in the bulls’ sights leading up to 25% price raise over the past two weeks, strengthening the token’s position as a long-term asset.

Avalanche’s focus on online growth is evident in its recent announcement, which will solidify the platform’s position in the DeFi space. As time allows these developments to mature, investors and traders holding AVAX could find themselves in for a treat.

$40 million was committed to Retro9000 to spur L1 growth

In the official post of X, Avalanche discovers its fresh grant program called Retro9000. The program rewards developers who build projects on the platform Avalanche9000 testnet and deploy the finished product on the main network. The move is intended to “empower developers” on the platform and ensure that Avalanche’s development is not halted.

Retro9000: Up to $40 million in retroactive grants for Avalanche L1 🔺

The goal of this fresh grant program is to reward developers who contribute to the testnet and run their projects on the mainnet, enabling developers to do what they do best – innovate and create.

More about Retro9000 👇 pic.twitter.com/qNXzosMV14

— Avalanche 🔺 (@avax) September 26, 2024

“Although the current blockchain landscape offers countless possibilities, comes with technical hurdles, creating economic and logistical constraints that make building and implementing projects challenging,” Avalanche said in a recent report blog entry.

The program works by posting submissions to a public leaderboard, allowing developers to build publicly and enabling communities to build around their projects. However, the main focus of the reward system is developers who test and submit their completed projects on the mainnet, further boosting development on the platform.

Retro9000 mainly focuses on the upcoming Avalanche9000 network update. The program allows developers of all sizes to try out a fresh development environment while keeping the economic barrier low thanks to $40 million in funding for the program.

Cryptocurrency wallet and wallet protocol, Core, he said will support the upcoming Avalanche9000 network update which will support the Interchain Messaging Protocol (ICM). It promises much easier communication between chains, thus improving the user experience on this platform.

Testnet developers when building L1 or L1 tools on a testnet, remember that Core helps reduce development time by optimizing the ability to move resources between chains and providing uncomplicated access to testnet support.

Read more about Core support for ICM…

— Core 🔺 | Crypto wallet and portfolio (@coreapp) September 26, 2024

Avalanche: Investors want to break $30.11 – is it possible?

With solid chain growth on Avalanche, AVAX bulls have set their sights on the $30.11 resistance level, which will open the door to a return to the $33.08 price level. If this happens, investors and traders will see huge profits in the medium and long term.

While the market environment is bullish in nature, the token’s Relative Strength Index (RSI) remains tight due to the near-constant upward trajectory that AVAX has followed over the past two weeks, which could threaten AVAX’s near-term gains.

If the token is rejected by the resistance at $30.11, bulls can rely on AVAX’s current support level at $26.79 for a long-term move.

Featured image from Medium, chart from TradingView