Avalanche’s [AVAX] key metrics can decline further- Here’s why

Avalanche’s TVL and market capitalization declined over the last week. A few metrics were positive but market indicators supported the bears. AVAX Daily, a popular Twitter handle that posts updates related to the Avalanche [AVAX] blockchain, recently published the network’s weekly report. The tweet stated that AVAX’s market capitalization registered a double-digit decline of 13% […]

revealed that Avalanche’s new weekly addresses had gained upward momentum since the beginning of this year., after a steady decline, fees and revenue from Avalanche spiked on 3 March 2023.

Quite a few other on-chain metrics also supported Avalanche. For instance, AVAX’s demand in the futures market remained pretty decent, which was evident from its Binance funding rate.revealed that bearish sentiments around Avalanche went down by over 50% last week, indicating the crypto community’s confidence in the token.’s popularity increased considerably as its social volume registered a major uptick in recent days.

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