- Avalanche’s TVL increased, as did its market dominance and active addresses.
- The demand for the derivatives market remained stable and the indicators were bullish.
AVAX Daily recently published weekly highlights avalanche The ecosystem reveals how AVAX has performed over the past seven days on several fronts.
Based on the data, the Avalanche had a comfortable week with growth in many ways. For example, AVAX saw a double-digit increase in daily active addresses last week, indicating more activity on the network.
Its market capitalization and number of transactions have also boomed in the past seven days.
🔺Weekly Highlights of the Avalanche Ecosystem🔺
price hikers$DSLA @Stacktical$DCAU @DCGgamefi$construction @Radio Shack$stay @StargateFinance
$ @call_io$yak @yieldyak_$GMX @GMX_IO#avax #avalanche #defy $avax pic.twitter.com/vIUvWXfYxB
— Avax Daily 🔺 (@AVAXDaily) February 19, 2023
realistic or not, here it is AVAX Market Cap in BTC terms
In addition to these, the coin’s Total Value Locked (TVL) metric also increased by around 5%.
Crabada dominates when it comes to Avalanche’s NFT ecosystem The best seller, followed by OG ODIN and OG THOR.
The Sentiment chart suggested that the overall NFT ecosystem grew as the total number of NFT trades in AVAX and the trading volume in USD increased.
Furthermore, the coin’s performance on the social front was also upbeat, with its social mentions and social dominance increasing by more than 30%.
However, despite growth in several areas, Dune’s Statistics As it turns out, Avalanche’s new monthly users saw a decline in February.
🔺Weekly avalanche social signals🔺
most influential projects@MUA_MUADAO@brillofinanzas@cheemsinu@Ste_Cha_FEG
influencer of the week@luigidemeo@LibraryDefi@CryptoMichNL@kaiun69
Fountain: @LunarCrush#avax $avax #avalanche pic.twitter.com/k2MUP9At2C
— Avax Daily 🔺 (@AVAXDaily) February 18, 2023
negative sentiment still prevails
Interestingly, the AVAX price has also remained in favor of investors in the past week due to the bullish market trend.
According coin market capIts price rose around 15% last week and, at press time, was trading at $20.56 with a market capitalization of more than $6.4 billion.
AVAX received continued demand from the derivatives market, as evidenced by its funding rate from Binance, which was on the higher side.
of coins The 1-week price volatility, after a brief dip, appeared. However, investor sentiment towards AVAX was not in line with previous metrics as they remained mostly negative, which was a concern for the network.
How much they cost 1,10,100 AVAX is it worth it today?
Another possible stream?
The Avalanche daily chart showed that the day could be even better for investors as most market indicators turned bullish.
Additionally, the MACD showed the possibility of a bullish crossover. waxThe US Money Flow Index (MFI) was on a steady upward trend, which looked promising.
The Relative Strength Index (RSI) was also above the neutral mark, suggesting a rise in price in the coming days. However, the Bollinger Bands suggested that the AVAX price was in a less volatile zone, which could prevent its price from going higher in the coming days.