Avalanche Sees Price Surge and Network Growth
Avalanche’s price has climbed for two straight days, with investors snapping up the recent dip. On June 7, the AVAX token reached $20.65, marking a 12% increase from its weekly low.
The network’s performance is remarkable. According to Nansen, Avalanche processed over 5.2 million transactions in the past week, a 112% jump from the previous week. This surge in activity is a sign of the network’s rapid growth.
key metrics show a meaningful uptick. Active addresses rose by 23% to 283,163, while transaction fees soared by 193% to nearly $200,000. In the last 30 days,transactions have spiked by 326%,and active addresses have climbed by 312% to 2.05 million. The stablecoin market cap on Avalanche now stands at $2.1 billion, the highest since February 19. Decentralized exchanges on Avalanche have also seen a boost, with over $131 million in volume in the last 24 hours.
- Transactions up by 112%
Avalanche’s partnership with FIFA for NFT sales is another positive development. However,technical analysis suggests a bearish outlook. The AVAX price has formed a double-top pattern and a bearish flag, indicating a potential breakdown. If this occurs, the price could drop to $15, a 27% decrease from current levels.
despite these challenges, the network’s strong ecosystem metrics show promise.investors shoudl keep an eye on these trends as the market evolves.
