Unprecedented Surge in Avalanche Transaction Volume
The transaction volume of Avalanche has witnessed a substantial rise, achieving its peak since December 2023. This increase, marked by the daily large transaction volume hitting $329 million on March 11, 2024, indicates increased activity from substantial AVAX holders. This remarkable rise in Avalanche transaction volume parallels the ascend of the network’s native token, AVAX, to levels unparalleled since May 2022. Intriguingly, the last instance when AVAX transactions of $100,000 or more recorded figures comparable to the current volume was on December 29, when the total amount was $412 million. Despite fluctuations in the number of large transactions, evidence suggests a recovery process is in progress. At the moment of this news, AVAX was trading at $54, marking a 24% weekly growth. With this increase, nearly 6.08 million addresses, or approximately 82.4% of total holding wallets, are gaining, while less than 57,000 addresses are experiencing a loss. The boost in large AVAX transaction volumes comes one month following the Avalanche network suffering an outage lasting several hours. However, the network has since bounced back, and AVAX has positioned itself as one of the top-performing altcoins, in line with Solana (SOL), Toncoin (TON), and Algorand (ALGO). The keyword phrase is: ‘Avalanche transaction volume’.
Not financial advice. Always be safe and secure when dealing with cryptocurrency. Never send anyone your private key. Always Do Your Own Research..DYOR..DYOR..DYOR!
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