There was a 30% monthly growth in new contracts on Avalanche in January. AVAX bottomed out on 13 January and rebounded impressively to clock gains of 14% until press time. The Avalanche [AVAX] ecosystem has recorded significant growth since the start of 2023. According to a tweet, the daily gas usage on the network grew […]
The past week also saw a growth in AVAX’s NFT ecosystem. As of 23 January, the NFT trade volume jumped by 55% over the previous day with a rise in the number of NFT transactions as well.AVAX bottomed out on 13 January and rebounded impressively to clock gains of 14% until press time, data fromAVAX broke past the indicated resistance at $19.54 on 19 February, but quickly retraced to test it as support. This could be a bullish signal in the short term.
AVAX saw a growth in its Open Interest and the trajectory aligned with that of its price. The growth in OI meant that new positions were being opened, which could aid the price in the short term.Subscribe to get it daily in your inbox.
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Avalanche [AVAX]: Despite these developments, bulls face resistanceAvalanche’s development activity soared as multiple milestones and partnerships were announced this week. AVAX attempts to keep the bears at bay despite slight selloff from resistance range. The Avalanche [AVAX] network has maintained robust development activity in the last seven days even as the market volatility slowed down. Here’s a look at how the network […]
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