Avalanche (AVAX) Poised for Breakout Amid strong performance Metrics
AVAX traded at $23.78 on August 15, up 60% from its low this year. A unique pattern suggests it might surge soon.
Third-party data highlights strong activity in avalanche’s ecosystem. Artemis reports a 14% rise in stablecoin supply to $1.5 billion over 30 days. Notably,adjusted transaction volume shot up by 715%,reaching $131 billion. This jump indicates Avalanche is a top player in the stablecoin market.
- Stablecoin supply increased 14% to $1.5 billion.
- Transaction volume grew by 715% to $131 billion.
Nansen reveals that Avalanche processed 4.5 million transactions in the past week, up 55%. In the decentralized exchange space, protocols like Blackhole and Uniswap on Avalanche handled over $7.7 billion in july. This month, that figure is already at $5.8 billion. Additionally, NFT sales climbed by 52% to $1.42 million, lead by veBlack, up 72%.
Wiht rising stablecoin activity, DEX volumes, and NFT sales, AVAX’s utility is increasing. Dinari Financial Network plans to launch the first U.S.stock order book on Avalanche.
Technically, AVAX has formed a bullish double-bottom pattern at $15.60. It’s above the 50-day moving average and nearing the neckline at $27.4. If it突破es this level,a 65% rally to $40 is possible.
