Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»Will Avalanche’s bet on Memecoin benefit AVAX investors?
ALTCOIN NEWS

Will Avalanche’s bet on Memecoin benefit AVAX investors?

By Crypto FlexsJanuary 24, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Will Avalanche’s bet on Memecoin benefit AVAX investors?
Share
Facebook Twitter LinkedIn Pinterest Email

  • The Avalanche Foundation accepts memecoins.
  • While overall activity on the Avalanche network continues to decline, prices have fallen.

There has been a huge surge in interest in Solana (SOL) over the past few months. Much of this interest has been driven by memecoins, which are gaining popularity on the network.

Avalanche (AVAX) decided to take a page out of Solana’s book and announce that it would be investing in the memecoin sector of its network.

Going all in

Due to the uncertainty and fraudulent activities surrounding Memecoin, Avalanche has announced several criteria that will qualify you to invest in Memecoin. Some criteria include high retainer count, low concentration, and sniper bot resistance.

The Avalanche Foundation recognizes the importance of fostering and supporting community initiatives for the Avalanche, including the creativity and culture of community coins.

The Foundation has reserved part of its Culture Catalyst program to include community coins.

— Avalanche 🔺 (@avax) January 23, 2024

Even though these factors may protect users from the common pitfalls of memecoin investing, the overall state of the Avalanche network remained bleak.

In terms of daily activity, the number of daily active users has decreased from 87,000 to 53,000 over the past few weeks. Along with this, the number of daily transactions taking place on the network has also decreased.

At the time of writing, the number of transactions taking place on the network reached 276,140.

Only time will tell whether Avalanche will be able to attract new users to the protocol through memecoins in the future.

Source: Artemis

Things were not going well for Avalanche in the DeFi division either. Recent data shows that the Avalanche’s total value locked (TVL) has declined significantly over the past few days.

A significant portion of the TVL decline is due to decreased DEX volume on the Avalanche network. Declining DEX volume suggests that addresses are losing interest in Avalanche’s DEX.

Network activity decreases and interest in the DeFi sector decreases.

Source: Artemis


Read Avalanche (AVAX) Price Prediction for 2024-25


Plus, AVAX’s pricing wasn’t that great. At the time of press, AVAX was trading at $29.89, with the price down 0.52% over the last 24 hours.

AVAX’s trading volume also decreased during this period. While interest in memecoins may help AVAX temporarily, improvements across all sectors will be needed to see growth in the long term.

Source: Santiment

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Strategy to raise almost $ 1B by STRD priority proposal for BTC accumulation

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 2025

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Apple, X, Airbnb Eye Stablecoin Integration

June 7, 2025

Strategy to raise almost $ 1B by STRD priority proposal for BTC accumulation

June 7, 2025

Hash research CEO is appointed chief policy officer at the presidential office

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025
Most Popular

Bitcoin Miner Bitdeer Shares Drop 3.5% After Reporting Q2 Net Loss

August 13, 2024

Starknet TVL pumped 194% in 7 days. What about STRK?

February 27, 2024

Import, cost and network impact

March 9, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.