AVAX shows promise, but here’s why investors must maintain caution

Avalanche’s weekly subnet stats revealed that the network processed over 14 million transactions. However, AVAX’s price action turned bearish, as did market indicators.

At the time of writing, AVAX’s staking market capitalization stood at $3,735,172,558, with a staking ratio of 59%, as perHowever, not everything was perfect, as Avalanche witnessed a decline in quite a few areas as well. For instance, Artemis’ chart pointed out thatA decline in TVL means that the overall value of crypto assets deposited in DeFi protocols has sunk.

A similar trend of decline was also noted in terms of Avalanche’s DEX volume.Though TVL and DEX volumes declined, Avalanche’s development activity increased sharply. This was a result of the Avalanche X-Chain Explorer, which allows users to analyze all X-Chain activities, including transactions, assets, UTXOs, blocks, and more.This major upgrade lets you analyze all X-Chain activities, including transactions, assets, UTXOs, blocks, and more.

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