Avalanche (AVAX) Soars Amid network growth
Avalanche (AVAX) has reached $36.61, its highest point since January. this surge is driven by the network’s rapid expansion and increasing adoption.
Transaction volume on Avalanche has skyrocketed by 226% this month. Active addresses have increased by 20%, and fees have risen by 86%.The total value locked in real-world asset tokenization has surged by 136%, reaching over $456 million.
Avalanche (AVAX) has hit $36.61, its peak as January. This growth is fueled by the network’s rapid expansion and increasing adoption.
Transaction volume on Avalanche has surged by 226% this month.Active addresses have increased by 20%, and fees have risen by 86%. The total value locked in real-world asset tokenization has jumped by 136%, reaching over $456 million. This growth is driven by companies like Circle, Avant Protocol, and Tether.
Avalanche’s role in the RWA industry will continue growing as Anthony scaramucci prepares to launch his tokenized fund on its chain. The supply of stablecoins in its network has increased by 16% to $1.9 billion. The number of stablecoin addresses has risen by 11% to over 264,000.
meanwhile,Avalanche’s liquidations have slowed in the past few days. The liquidations jumped to almost $10 million on Monday and then dropped to $1.36 million today.
AVAX price technical analysis shows a double-bottom pattern around $15,with a neckline at $27.30. It has also moved above the neckline, and most importantly, it recently formed a golden cross pattern as the 50-day and 200-day moving averages crossed each other. A golden cross is one of the most bullish patterns in technical analysis. It has also moved to the 50% Fibonacci Retracement level and is approaching the ultimate resistance level of the Murrey Math Lines. Therefore, the most likely AVAX price forecast is bullish, with the next target being at $43.75 — the extreme overshoot level.
