- AVAX price slipped 1.13% to $23.66, despite all the hustle and bustle in the market.
- Liquidity is still leaking, with TVL dropping by $50M and DEX Trading Volume tumbling from $216.5M to $130.3M.
Oh, the sweet sorrow of Avalanche [AVAX]! Price dropped by 1.13% to $23.66 in the last 24 hours. No biggie, right? But hold your horses—some experts believe that despite the current sell-off, this chain might just weather the storm and see some nice price growth ahead. What a rollercoaster!
But, there’s a catch! While the market’s cheering for a bullish comeback, there are still a few grumpy sellers lingering in the background, slowly draining liquidity. Will it survive? Only time will tell!
Here’s how the drama could unfold…
AVAX Hits New Heights in Activity Surge
Hold on to your hats, because in the past 24 hours, Avalanche went into overdrive! According to Nansen’s stats, Active Addresses skyrocketed by 221%, while Transaction Count jumped 109%. Who’s behind this? More investors stepping onto the Avalanche train, that’s who!
And you know what that means, right? A chunk of those investors are actually using AVAX to make transactions. Money being spent like there’s no tomorrow!
But wait—there’s a twist! 89.94% of these transactions are tied to OpenSea, that NFT marketplace where dreams (and art) are bought and sold. Talk about a trend!
Oh, and let’s not forget, NFTs have been absolutely smashing it lately, with a 78.1% growth in the last 30 days. So, yeah—if NFTs keep booming, AVAX’s price could follow suit and soar!
All of this is reflected in Avalanche’s fee generation, which shot up from $19,500 on May 11th to $24,300 at the time of writing. High usage, good news for the network, right?
But hang on, there’s a slight snag. Despite all this on-chain action, AMBCrypto points out that the activity on exchanges and liquidity outflows are still dragging AVAX down. Hmm, could be trouble.
Liquidity Outflow and Low Trading Volume—Not Exactly a Party
On one hand, Avalanche is buzzing with on-chain activity, but on the other hand, liquidity keeps oozing out. In fact, DeFiLlama shows a dip in the total value locked (TVL) across Avalanche’s protocols—a 3.26% decline to be exact. That’s a loss of $50 million in AVAX. Ouch.
Meanwhile, DEX Trading Volume fell from $216.5 million to $130.3 million. That’s a lot of people sitting on their hands and not doing much. Come on, guys—where’s the action?
For AVAX to stay on the up-and-up, we’ll need more than just activity on the chain. We need some serious demand across the whole ecosystem—trading, liquidity, and everything else. So, here’s hoping that AVAX can pull itself out of this slump!
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2025-05-17 03:08