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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    A Step-by-Step Guide for Beginners

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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  • Crypto
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Matt Furie NFTs Crater 97% After Mint Exploit

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    Rekt Is Reaching the Masses

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    FC Barcelona unveils Barca Pass crypto wallet, NFT avatars

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    Guild of Guardians Leads Despite Dip as SuperRare and Panini Skyrocket

    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

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    NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

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    NFT sales pump 37% to $144.8m, Immutable dethrones Ethereum

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    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

  • Gaming
    How ‘MapleStory N’ Is Fighting Back Against Thousands of Hackers

    How ‘MapleStory N’ Is Fighting Back Against Thousands of Hackers

    Animoca Brands partners with Cross the Ages to support the launch of blockchain game

    Animoca Brands partners with Cross the Ages to support the launch of blockchain game

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    IN-Match3 Joins Forces with Adventure Layer to Scale GameFi, Boost Accessibility & Profitability

    Civitas Migrates to Immutable zkEVM to Power Low-Cost, Scalable Web3 Gaming & Web3 Network Growth

    Civitas Migrates to Immutable zkEVM to Power Low-Cost, Scalable Web3 Gaming & Web3 Network Growth

    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

    Crypto Casinos Made Over $80 Billion in 2024

    Crypto Casinos Made Over $80 Billion in 2024

    A16z-backed Spekter Games founder shares Telegram gaming ethos

    A16z-backed Spekter Games founder shares Telegram gaming ethos

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    How Mobile Apps Are Quietly Adopting Web3 Tech

    Location-Based Gaming NFTs: How GPS and Blockchain Are Changing the Way We Play

    Location-Based Gaming NFTs: How GPS and Blockchain Are Changing the Way We Play

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

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  • AI
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    A Step-by-Step Guide for Beginners

    Long and Short Positions in Crypto Explained for Beginners

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    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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Home Altcoins

Is AVAX undervalued? These key indicators might have all the answers

April 20, 2024
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Is AVAX undervalued? These key indicators might have all the answers
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  • Trading volumes for AVAX surged on Mux Protocol
  • Overall interest in Avalanche NFTs grew too

After soaring to new heights in March, the price of Avalanche [AVAX] has declined materially over the course of the last few weeks.

Rising volume

However, recent activity on decentralized exchanges (DEXs) like Mux Protocol has inspired optimism among traders. There seems to be renewed trading interest in the altcoin, something that can be seen as a potential sign that the market may be nearing a turnaround. The surging trade volume for tokens like Avalanche’s AVAX has been one of the main reasons behind such optimism. On the back of the same, AVAX even managed to crack the top-10 by volume.

Additionally, declining funding rates for AVAX Futures contracts suggest a shift in sentiment, with investors potentially moving away from short-term bets and towards holding onto altcoins for longer periods.

Source: X

The state of the Avalanche ecosystem will also heavily impact the price of AVAX in the future. AMBCrypto’s analysis of Artemis’ data revealed that the number of daily active addresses on the Avalanche network declined significantly. Moreover, the number of daily transactions occurring on the network also plummeted.

A lack of activity on the network can hinder AVAX’s potential for growth significantly.

Source: Artemis

Even though the DeFi sector of Avalanche has not been performing well, it was seen that interest in Avalanche NFTs grew materially. NFT collections such as Dreamheads and Lofi Leopards garnered significant attention over this period too.


Realistic or not, here’s AVAX market cap in BTC’s terms

See also  Bitcoin liquidation drops but BTC holds at $60K - What's next?

This surge in interest in Avalanche NFTs could possibly help the ecosystem attract more users and improve sentiment towards AVAX as well.

Source: Artemis

Looking at the data

At the time of writing, AVAX was trading at $35.52, with its price up by 1.66% in the last 24 hours. Correspondingly, AVAX’s trading volume also hiked by 6.74% during this period.

However, things weren’t as positive on the development activity front. AMBCrypto’s examination of Santiment’s data revealed that the development activity around Avalanche fell significantly. This indicated that the number of code commits being made to Avalanche’s GitHub declined.

A finding like this can have a negative impact on Avalanche’s ecosystem. It can lead to the slowing down of new updates and upgrades on the network as well.

Source: Santiment

Next: Bitcoin completes its 4th Halving – Will BTC’s price climb by 500x again?

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?

  • Trading volumes for AVAX surged on Mux Protocol
  • Overall interest in Avalanche NFTs grew too

After soaring to new heights in March, the price of Avalanche [AVAX] has declined materially over the course of the last few weeks.

Rising volume

However, recent activity on decentralized exchanges (DEXs) like Mux Protocol has inspired optimism among traders. There seems to be renewed trading interest in the altcoin, something that can be seen as a potential sign that the market may be nearing a turnaround. The surging trade volume for tokens like Avalanche’s AVAX has been one of the main reasons behind such optimism. On the back of the same, AVAX even managed to crack the top-10 by volume.

See also  Analyst Highlights 3 Key Factors Pointing To A Price Boom

Additionally, declining funding rates for AVAX Futures contracts suggest a shift in sentiment, with investors potentially moving away from short-term bets and towards holding onto altcoins for longer periods.

Source: X

The state of the Avalanche ecosystem will also heavily impact the price of AVAX in the future. AMBCrypto’s analysis of Artemis’ data revealed that the number of daily active addresses on the Avalanche network declined significantly. Moreover, the number of daily transactions occurring on the network also plummeted.

A lack of activity on the network can hinder AVAX’s potential for growth significantly.

Source: Artemis

Even though the DeFi sector of Avalanche has not been performing well, it was seen that interest in Avalanche NFTs grew materially. NFT collections such as Dreamheads and Lofi Leopards garnered significant attention over this period too.


Realistic or not, here’s AVAX market cap in BTC’s terms


This surge in interest in Avalanche NFTs could possibly help the ecosystem attract more users and improve sentiment towards AVAX as well.

Source: Artemis

Looking at the data

At the time of writing, AVAX was trading at $35.52, with its price up by 1.66% in the last 24 hours. Correspondingly, AVAX’s trading volume also hiked by 6.74% during this period.

However, things weren’t as positive on the development activity front. AMBCrypto’s examination of Santiment’s data revealed that the development activity around Avalanche fell significantly. This indicated that the number of code commits being made to Avalanche’s GitHub declined.

A finding like this can have a negative impact on Avalanche’s ecosystem. It can lead to the slowing down of new updates and upgrades on the network as well.

Source: Santiment

Next: Bitcoin completes its 4th Halving – Will BTC’s price climb by 500x again?
Tags: answersAVAXIndicatorskeyundervalued

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UK risks regulating NFTs the wrong way, says Mintable CEO

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Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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How to Earn Keys to Boost Your HMSTR Airdrop

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EDITOR'S PICK

Moonbirds Evolve with Volaria Universe Amidst Shift in NFT Copyrights

Moonbirds Evolve with Volaria Universe Amidst Shift in NFT Copyrights

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Bitcoin Celebrates One Year of Ordinal Inscriptions With 48 Million Mark Hit, Signaling Longevity Despite Ongoing Debate

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