AVAX Price Benefits From Avalanche's ASC-20 Token Standard

AVAX Price Benefits From Avalanche's ASC-20 Token Standard

From the middle of November through to mid December of 2023 Avalanche along with several other EVM compatible chains such as Polygon had millions of inscriptions minted on their chains, benefiting their miners but causing congestion, similar to what has been happening with BRC-20 tokens on the bitcoin blockchain. 

Avalanche was the chain making the most gas revenue from such activity on its chain, from mid-November thorugh to mid-December. 

Avalanche’s token standard is called ASC-20 and it allows for minting of both fungible tokens and NFTs or non-fungible tokens. 

It is Avalanche’s version of BRC-20. 

One example of fungible ASC-20 tokens is SNOW ASC and the top ones currently are AVAV ASC and DINO ASC. 

Shukracharya, Venus rules the arts including NFTs, and payments.

When ASC-20 tokens are minted on Avalanche, the fee is paid in the native AVAX token and then burned meaning that they can benefit AVAX price. 

In the second half of November is when Ketu was transiting into Virgo from Libra, while Shukracharya Venus transited from Virgo into Libra. 

Ketu is multiplicity and the place where these two planets crossed at the end of Virgo was in almost exact trine to the natal Venus of the Ordinals Protocol, which was the protocol launched on bitcoin by Casey Rodarmor on January 21st, 2023, allowing for inscriptions on the blockchain, in the form of the NFT-like inscriptions or BRC-20 tokens. 

This is why a new multiplicity of inscriptions on different chains including AVAX’s ASC-20 have recently emerged and are trending ferociously. 

In the case of Avalanche, this crossing of paths of Shukracharya and Ketu at the very end of Virgo happened in the 2nd House, related to liquid wealth, in almost exact kendra to natal Sun and natal Jupiter, both also planets which bring wealth to AVAX due to their placements and rulerships of dhan or wealth houses in the natal chart.

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