Will AVAX Price Jump As Littio Bank Chooses Avalanche Over ETH?

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As a researcher who has been tracking the blockchain and fintech industry for several years now, I find Littio’s decision to move its Yield Pots platform from Ethereum to Avalanche an intriguing development. My personal experience with high transaction fees and slow settlement times on some popular blockchains has made me appreciate platforms like Avalanche that offer faster, cheaper alternatives.

Littio, a neobank based in Colombia, has revealed that it’s transitioning its Yield Pots platform from Ethereum (ETH) to Avalanche (AVAX). The shift is aimed at satisfying growing demand for U.S. Treasury bills and improving transaction efficiency with customers. This change may lead to a rise in the value of AVAX as more users and projects adopt the Avalanche blockchain.

Littio Moves to Avalanche for Yield Pots

Given the growing demand among investors for investing in U.S Treasury bills, Littio has chosen to move its Yield Pots platform from Ethereum to Avalanche. The Yield Pots service enables users to generate income on their US Dollar deposits by using stablecoin-backed investment products.

The company stated that they needed to improve and upgrade their transaction procedures because of the surge in user activity, leading to this necessary adjustment.

Avalanche unlocks worldwide access to a diverse range of investment products and utilities

Colombian fintech company Littio is tackling the issue of currency devaluation faced by many Latin Americans via an intuitive mobile application. This tool enables users to transform their pesos into USD Coin (USDC), which they can then transfer, utilize, or…

— Avalanche9000 (@avax) October 9, 2024

Littio specifically highlighted Avalanche’s lower transaction costs and quicker settlement durations as key factors in their platform selection. This move is intended to enhance Littio’s service delivery, making it smoother for clients to tap into products that yield returns on real-world assets (RWAs), such as U.S. Treasury bills.

Role of OpenTrade in the Transition

One of the significant elements driving this transformation is Littio’s connection to OpenTrade, a company situated in London. OpenTrade provides yield-generating products that leverage stablecoins and tangible assets like U.S. Treasury bills.

Investors can gain access to off-chain assets using blockchain technology, as these Representative Warranty Assets (RWAs) have been divided into digital units or tokens.

As a crypto investor, I’m excited to be part of the growing community utilizing OpenTrade’s vault services, with Littio being the sole Latin American neobank currently on board. However, the future looks promising as more clients are expected to join us before the year ends. It’s clear that the demand for USD-linked services, such as payments and bank accounts, is surging across Latin America. This surge in demand makes stablecoin-based fintech solutions like those offered by Littio increasingly valuable and sought after.

Avalanche’s Growing RWA Ecosystem

By offering both affordability and rapid transaction speed, Avalanche has emerged as one of the top platforms for real-world asset tokenization in the practical world. The Avalanche Foundation has bolstered this position by initiating a $50 million program to encourage the development of Real-World Asset (RWA) creation on their network. The decision of Littio’s Yield Pots to migrate to Avalanche is seen as a positive sign, indicating its ability to accommodate high-end financial products designed for institutions.

According to Morgan Krupetsky, who serves as the Head of Institutions and Capital Markets at Ava Labs, Avalanche is facilitating the provision of effective and secure financial services to the underbanked community in Latin America.

As an analyst, I’m excited about our transition to Avalanche. My primary goal is to enhance the services we provide, particularly for our clients in regions experiencing high inflation and currency devaluation. This move aims to bring them a more resilient and effective financial solution.

AVAX Price Outlook Amid Increased Adoption

Due to Littio, a Colombian neobank, transitioning to Avalanche, there could be an increase in demand for Avalanche (AVAX) and potentially a rise in its price. Since mid-2023, AVAX has demonstrated a bullish trend, with successive higher lows and a strong ascending support line, indicating more buyers are entering the market following each dip, boosting confidence in the asset. Nevertheless, at the time of writing, the AVAX price was at $26.16, representing a 0.30% drop from its intraday high.

Will AVAX Price Jump As Littio Bank Chooses Avalanche Over ETH?

As an analyst, I’ve observed that if the AVAX price manages to sustain its upward thrust beyond the crucial support level, there’s a promising prospect for substantial growth. Predictions indicate a potential increase of around 138.74%, possibly pushing the price towards $50, given the bullish momentum persists.

This new development arises as Avalanche is experiencing growing popularity in various industries. As more financial technology platforms such as Littio choose to integrate Avalanche, the demand for AVAX might increase among investors, potentially causing a surge in its value.

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2024-10-09 22:42