- AVAX prices fell 1.13% despite strong chain activities and increased investors.
- The liquidity leak continued as the TVL dropped $ 50 million and the DEX trading volume decreased from 216.5m to $ 130.3m.
Avalanche (AVAX) was slightly lowered to 1.13%at $ 23.66 last day. Analysis shows that it can overcome the sales pressure that it faced and record notable prices.
However, since liquidity leaks are increasing in this strong sentiment, there are still active sellers in the market.
This is how everything can go.
AVAX records major activity surges
Over the last 24 hours, activities on snowfall have soared. According to Nansen’s insight, the activity address increased by 221%, while the number of transactions increased by 109%.
This means that more investors have boarded the chain, and notable numbers of investors have completed their transactions.
Source: Nansen
Interestingly, this also means that AVAX has been purchased and used to promote these transactions.
When AmbCrypto conducted further research, 89.94%of these transactions were related to OpenSea, the NFT (Nifunbial Token) market.
AmbCrypto also found that 89.94%of these transactions are related to the NFT market, OpenSea.
This coincides with a wider trend. The NFT application has appeared in the second place in the last 30 days and has grown 78.1%.
This means that additional growth of NFT applications can play an important role in raising the price of AVAX as soon as possible.
Source: Artemis
The positive effect of this can be seen in Avalanche’s commissions, and from $ 19,500 on May 11 to $ 24,300 for Press Time.
This fee generation also confirms that the use of blockchains is high. This is important, but market activities are also important for the growth of asset prices.
AMBCRYPTO found that this is not true because not only liquidity leaks, but also because the activity of the exchange was not desirable for Avax.
Liquidity leakage and low trading activities continue
Chain activities have increased over the last 24 hours, but Avax is still suffering from liquidity leaks.
According to Defillama, the total value lock (tvL) has gradually decreased in the eye -catching protocol.
TVL sold $ 50 million from $ 1.59 billion to $ 1.46 billion, at 3.26%.
Source: Artemis
At the same time, Dex trading volume has been reduced from $ 226.5 million to $ 133 million, reducing demand for distributed exchanges.
In order for AVAX to maintain an upward momentum, demand must be returned not only in temperature but also on transactions and fluid channels.