Avalanche Aktivitéit Spikes, wéi wäert AVAX reagéieren

• Avalanche observed a spike in growth in terms of activity due to spike in NFT demand and dApp usage.
• AVAX price declined and volatility rose. 

Recent data indicated a significant increase in activity on Avalanche’s [AVAX] C-chain, the primary chain responsible for transaction validation and network consensus. As the network gains traction, questions arise regarding the future of AVAX, the native cryptocurrency of Avalanche.

Liest Avalanche's [AVAX] Präisprognose 2023-2024

An Avalanche of users

Token Terminal’s data revealed that Avalanche was steadily progressing towards amassing one million monthly active users on the network. The rising activity indicates a growing user base and increasing utilization of the platform’s capabilities.

Quell: Token Terminal

One reason for the high activity on the Avalanche network was the rising demand for its NFTs.

According to AVAXNFTSTATS, sales on the Avalanche NFT network experienced a notable surge of 37.5% in the past week. However, it’s worth noting that interest in blue-chip NFTs like Roostr and MONKEEZ declined, suggesting a shift in preferences among NFT enthusiasts.

Quelle: AVAXNFTSTATS

Coupled with NFTs, dApps on the Avalanche network also played a vital role in increasing activity on the protocol.

Notably, DeFi dApp protocol Benqi witnessed a 3.11% increase in unique active wallets, leading to a subsequent rise in the number of transactions conducted on the network. This highlights the expanding ecosystem of DeFi decentralized applications on Avalanche.

Quell: Dapp Radar

Despite the heightened activity generated by dApps and NFTs, Avalanche has experienced a decline in revenue over the past month, with a notable drop of 14.1%. This decline could be attributed to various factors, such as shifting market dynamics or evolving user behavior.

Quell: Token Terminal

Realistesch oder net, hei ass AVAX Maartkapital a BTC Begrëffer

Staat vun der Token

In the last month, Avalanche’s price and volume exhibited a downward trend. Coupled with that, the volatility of AVAX has increased materially. This spike in volatility could stop risk averse users from buying AVAX due to increasing price fluctuations.

Quell: Santiment

Avalanche’s new collaborations with Circle could improve the state of the token and attract new users to the protocol. The collaboration ensures the availability of EUROC, a stablecoin issued by Circle. The issuance of EUROC on Avalanche could also help the protocol expand in the DeFi sector, going forward.