{"id":560562,"date":"2023-11-14T12:44:58","date_gmt":"2023-11-14T12:44:58","guid":{"rendered":"https:\/\/ktsl888.com\/?p=560562"},"modified":"2023-11-14T10:36:46","modified_gmt":"2023-11-14T10:36:46","slug":"avax-price-boost-could-be-from-this-department-but-its-tvl-sings-a-different-tune","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/avax-price-boost-could-be-from-this-department-but-its-tvl-sings-a-different-tune\/","title":{"rendered":"AVAX Price Boost Could Be From This Department, But Its TVL Sings A Different Tune"},"content":{"rendered":"

Surging to a notable six-month peak of $20 in the previous week, Avalanche (AVAX) has attracted substantial investor attention, prompting an exploration of the fundamental drivers behind this impressive upward price movement.<\/p>\n

Some analysis have singled out the resurgence of GameFi within the Avalanche ecosystem as a pivotal catalyst potentially fueling additional gains in AVAX.<\/p>\n

Specifically, on Monday, AVAX revisited the $20 threshold, marking a significant milestone as this price level hadn’t been seen since April 2023.<\/p>\n

Related Reading: Solana (SOL) Shines 40% Toward $60 As Whales Make Big Moves<\/a><\/div>\n
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The GameFi Surge On Avalanche: Unveiling Growth Potential<\/strong><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The GameFi revival as a major growth catalyst suggests that the intersection of decentralized finance and gaming applications within the Avalanche network holds considerable promise.<\/p>\n

As the market absorbs this resurgence, questions naturally arise about the sustainability of the bullish momentum and the underlying factors contributing to the recent breakout in AVAX’s price.<\/p>\n

In light of these developments, a deeper analysis is warranted to understand the potential extent to which the bulls can propel this rally and the broader implications of the GameFi revival within the context of the Avalanche ecosystem.<\/p>\n

<\/p>\n

AVAX market cap currently at $6 billion. Chart: TradingView.com<\/a><\/pre>\n
As optimism permeated the cryptocurrency sector, the prosperity of ecosystems experienced a widespread upswing across diverse networks.<\/p>\n
Avalanche (AVAX) seamlessly joined this trend, affirming its participation in the prevailing positive sentiment within the crypto space. This collective ascent underscored the buoyancy of various networks, including AVAX, as they navigated the evolving landscape of the digital asset market.<\/p>\n
Meanwhile, TraderJoe, a prominent decentralized exchange (DEX) on the Avalanche network, has witnessed an impressive growth, marked by a significant surge in trading volume and fees collected over a specific period.<\/p>\n
\n
Watching @TraderJoe_xyz<\/a> as a dual play both on Avalanche and Arbitrum.<\/p>\n
– Trading volume +112%
\n– Fees +146%
\n– Supply-side fees rose to $138,000
\n– Trading Volume by chain: 74% Avalanche\/ 25% Arbitrum<\/p>\n
Trader Joe enjoys the volume from both narratives. pic.twitter.com\/0BkP3zzU7V<\/a><\/p>\n
\u2014 Emperor Osmo\ud83e\uddea (@Flowslikeosmo) November 13, 2023<\/a><\/p><\/blockquote>\n
The trading volume experienced an increase of more than 100%, indicating a substantial uptick in user activity on the platform. Simultaneously, fees generated from trading activity soared by an impressive 146%, reaching a substantial sum of nearly $140,000.<\/p>\n
At the time of writing, AVAX was trading at $17.03, down 6.5% in the last 24 hours, and tallied a solid 32.4% in the last seven days, data from Coingecko shows.<\/p>\n
This surge in supply-side fees underscores the increasing utilization of the TraderJoe platform within the Avalanche network.\u00a0The distribution of trading activity reveals that a substantial majority, accounting for 74%, occurred on the Avalanche chain, emphasizing the platform’s popularity within the Avalanche network.\u00a0The remaining 25% of trading took place on Arbitrum [ARB].<\/p>\n
Avalanche Network Activity Tells A Different Story<\/strong><\/h2>\n
As this developed, another interesting aspect has been observed in the network: In the last quarter, activity on the Avalanche network<\/a> experienced a downturn, witnessing a decline in both transaction volume and active addresses on the prominent \u201cC-Chain\u201d compared to the preceding quarter of 2023.<\/p>\n
\"\"<\/p>\n
Source: Nansen<\/a><\/p>\n
Data sourced from DeFi Llama indicates a nearly 30% slump in Avalanche’s total value locked (TVL) during Q3, plummeting from $706 million to $512 million. Although there has been a subsequent 10% rebound in TVL to $564 million, daily transactions continue to linger at a lower figure, standing at 232,000.<\/p>\n
\"\"Source: Nansen<\/a><\/pre>\n
AVAX Price In Peril?<\/strong><\/h3>\n
Nansen’s data<\/a> reveals that daily active users reached a peak of 86,000 in Q3, showcasing a decrease from the previous quarter’s 117,000. The daily active transactions also saw a drop, ranging from 136,000 to 504,000, a significant shift from the previous range of 200,000 to 550,000. Notably, on October 15, this metric hit a low of 110,000.<\/p>\n
While these metrics don’t bode well for the immediate past, whether this decline imperils AVAX’s price trajectory remains a complex question. The broader market sentiment and the network’s adaptability to emerging trends, especially in the dynamic realm of decentralized finance, will likely play pivotal roles in determining the future of AVAX’s price.<\/p>\n
\n
Related Reading: Boom! Cronos Unleashes 57% Weekend Explosion, Beating All In The Top 100 Crypto Ranking<\/a><\/div>\n<\/div>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from iStock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Surging to a notable six-month peak of $20 in the previous week, Avalanche (AVAX) has attracted substantial investor attention, prompting an exploration of the fundamental drivers behind this impressive upward price movement. Some analysis have singled out the resurgence of GameFi within the Avalanche ecosystem as a pivotal catalyst potentially fueling additional gains in AVAX. Specifically, on Monday, AVAX revisited the $20 threshold, marking a significant milestone as this price level hadn’t been seen since April 2023. Related Reading: Solana (SOL) Shines 40% Toward $60 As Whales Make Big Moves The GameFi Surge On Avalanche: Unveiling Growth Potential The GameFi revival as a major growth catalyst suggests that the intersection of decentralized finance and gaming applications within the Avalanche network holds considerable promise. As the market absorbs this resurgence, questions naturally arise about the sustainability of the bullish momentum and the underlying factors contributing to the recent breakout in AVAX’s price. In light of these developments, a deeper analysis is warranted to understand the potential extent to which the bulls can propel this rally and the broader implications of the GameFi revival within the context of the Avalanche ecosystem. AVAX market cap currently at $6 billion. Chart: TradingView.com As optimism permeated the cryptocurrency sector, the prosperity of ecosystems experienced a widespread upswing across diverse networks. Avalanche (AVAX) seamlessly joined this trend, affirming its participation in the prevailing positive sentiment within the crypto space. This collective ascent underscored the buoyancy of various networks, including AVAX, as they navigated the evolving landscape of the digital asset market. Meanwhile, TraderJoe, a prominent decentralized exchange (DEX) on the Avalanche network, has witnessed an impressive growth, marked by a significant surge in trading volume and fees collected over a specific period. Watching @TraderJoe_xyz as a dual play both on Avalanche and Arbitrum. – Trading volume +112% – Fees +146% – Supply-side fees rose to $138,000 – Trading Volume by chain: 74% Avalanche\/ 25% Arbitrum Trader Joe enjoys the volume from both narratives. pic.twitter.com\/0BkP3zzU7V \u2014 Emperor Osmo\ud83e\uddea (@Flowslikeosmo) November 13, 2023 The trading volume experienced an increase of more than 100%, indicating a substantial uptick in user activity on the platform. Simultaneously, fees generated from trading activity soared by an impressive 146%, reaching a substantial sum of nearly $140,000. At the time of writing, AVAX was trading at $17.03, down 6.5% in the last 24 hours, and tallied a solid 32.4% in the last seven days, data from Coingecko shows. This surge in supply-side fees underscores the increasing utilization of the TraderJoe platform within the Avalanche network.\u00a0The distribution of trading activity reveals that a substantial majority, accounting for 74%, occurred on the Avalanche chain, emphasizing the platform’s popularity within the Avalanche network.\u00a0The remaining 25% of trading took place on Arbitrum [ARB]. Avalanche Network Activity Tells A Different Story As this developed, another interesting aspect has been observed in the network: In the last quarter, activity on the Avalanche network experienced a downturn, witnessing a decline in both transaction volume and active addresses on the prominent \u201cC-Chain\u201d compared to the preceding quarter of 2023. Source: Nansen Data sourced from DeFi Llama indicates a nearly 30% slump in Avalanche’s total value locked (TVL) during Q3, plummeting from $706 million to $512 million. Although there has been a subsequent 10% rebound in TVL to $564 million, daily transactions continue to linger at a lower figure, standing at 232,000. Source: Nansen AVAX Price In Peril? Nansen’s data reveals that daily active users reached a peak of 86,000 in Q3, showcasing a decrease from the previous quarter’s 117,000. The daily active transactions also saw a drop, ranging from 136,000 to 504,000, a significant shift from the previous range of 200,000 to 550,000. Notably, on October 15, this metric hit a low of 110,000. While these metrics don’t bode well for the immediate past, whether this decline imperils AVAX’s price trajectory remains a complex question. The broader market sentiment and the network’s adaptability to emerging trends, especially in the dynamic realm of decentralized finance, will likely play pivotal roles in determining the future of AVAX’s price. Related Reading: Boom! Cronos Unleashes 57% Weekend Explosion, Beating All In The Top 100 Crypto Ranking (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock<\/p>\n","protected":false},"author":557,"featured_media":560572,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[9885,83347,6664],"class_list":["post-560562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-avalanche","tag-avax","tag-crypto"],"acf":[],"yoast_head":"\nAVAX Price Boost Could Be From This Department<\/title>\n<meta name=\"description\" content=\"Surging to a notable six-month peak of $20 in the previous week, Avalanche (AVAX) has attracted substantial investor attention, prompting an exploration\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"AVAX Price Boost Could Be From This Department, But Its TVL Sings A Different Tune","url":"http:\/\/ktsl888.com\/news\/avax-price-boost-could-be-from-this-department-but-its-tvl-sings-a-different-tune\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/avax-price-boost-could-be-from-this-department-but-its-tvl-sings-a-different-tune\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/a-87.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/a-87.png?fit=1200%2C678"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["avalanche","avax","crypto"],"dateCreated":"2023-11-14T12:44:58Z","datePublished":"2023-11-14T12:44:58Z","dateModified":"2023-11-14T12:44:58Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"AVAX Price Boost Could Be From This Department, But Its TVL Sings A Different Tune\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/avax-price-boost-could-be-from-this-department-but-its-tvl-sings-a-different-tune\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/avax-price-boost-could-be-from-this-department-but-its-tvl-sings-a-different-tune\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-87.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-87.png?fit=1200%2C678\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"avalanche\",\"avax\",\"crypto\"],\"dateCreated\":\"2023-11-14T12:44:58Z\",\"datePublished\":\"2023-11-14T12:44:58Z\",\"dateModified\":\"2023-11-14T12:44:58Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/a-87.png?fit=1200%2C678","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/560562"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=560562"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/560562\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/560572"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=560562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=560562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=560562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}