Read

Avalanche

Rewards

Daily

<a href="https://bitcoinworld.co.in/how-avax-price-reacted-to-avalanches-rising-network-activity/" title="How AVAX Price Reacted To Avalanche’s Rising Network Activity?" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Avalanche’s active addresses and transactions have been on the rise for several weeks. How did this affect AVAX’s price?</li>
</ul>
Avalanche [AVAX] was able to maintain network activity last week, as its statistics stayed reasonably comparable to the end of October. Because of the positive market conditions, the token’s price increased by double digits.
<h3 id="span-style-font-weight-400-avalanche-s-network-activity-remains-stable-span">Avalanche’s Network Activity Remains Stable</h3>
AVAX Daily, a prominent X (previously Twitter) handle that provides Avalanche ecosystem updates, recently tweeted about the Avalanche C-chain’s weekly network status.
According to the tweet, the blockchain reached a maximum transaction speed of 210 last week. Furthermore, Avalanche’s total gas usage in the last seven days hit 6.98 trillion.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f53a.png" alt="🔺" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Avalanche</a> C-chain weekly on-chain status<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f53a.png" alt="🔺" class="wp-smiley" style="height: 1em; max-height: 1em;">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;">Network Status Transactions: 6.65M -0.93% Max TPS Observed: 210 +1.43% Gas Used: 6.98T +1.95%
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;">Staking: Staking ratio: 59.69% Staking rewards: 7.84% Total validators: 1,534 Total delegations: 86,214<a href="https://twitter.com/hashtag/AVAX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#AVAX</a> <a href="https://twitter.com/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$AVAX</a> <a href="https://t.co/kZno2x66At" rel="noopener noreferrer nofollow">pic.twitter.com/kZno2x66At</a>
 — AVAX Daily <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f53a.png" alt="🔺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@AVAXDaily) <a href="https://twitter.com/AVAXDaily/status/1722448095005294868?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 9, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Not only that, but when AMBCrypto examined Artemis’ <a href="https://app.artemis.xyz/comparables?tab=chains" rel="noopener noreferrer nofollow">data</a>, it discovered that the blockchain’s daily active addresses have also increased in recent weeks. A similar upward trend was observed in terms of AVAX’s captured value, as evidenced by the increase in its fees and revenue.
<figure id="attachment_54855" aria-describedby="caption-attachment-54855" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-54855" src="https://bitcoinworld.co.in/wp-content/uploads/AVAX-rise-in-its-fees-and-revenue-720x286.png" alt="" width="780" height="310" srcset="https://bitcoinworld.co.in/wp-content/uploads/AVAX-rise-in-its-fees-and-revenue-720x286.png 720w, https://bitcoinworld.co.in/wp-content/uploads/AVAX-rise-in-its-fees-and-revenue-1080x430.png 1080w, https://bitcoinworld.co.in/wp-content/uploads/AVAX-rise-in-its-fees-and-revenue-1440x573.png 1440w, https://bitcoinworld.co.in/wp-content/uploads/AVAX-rise-in-its-fees-and-revenue-768x305.png 768w, https://bitcoinworld.co.in/wp-content/uploads/AVAX-rise-in-its-fees-and-revenue.png 1526w" sizes="(max-width: 780px) 100vw, 780px">
 <figcaption id="caption-attachment-54855" class="wp-caption-text">
 AVAX rise in its fees and revenue
 </figcaption>
</figure>
&nbsp;
A peek at AVAX’s stalker ecology is required while monitoring the network state. The AVAX Daily tweet also stated that AVAX’s staking ratio was 59.69% last week, while its staking rewards were 7.84%.
Read Also: <a class="row-title" href="https://bitcoinworld.co.in/circle-announces-a-v2-2-upgrade-for-usdc-and-eurc-reduces-gas-fees-by-about-7/" aria-label="“Circle Announces A v2.2 Upgrade For USDC And EURC, Reduces Gas Fees By About 7%” (Edit)" rel="noopener noreferrer nofollow">Circle Announces A v2.2 Upgrade For USDC And EURC, Reduces Gas Fees By About 7%</a>
According to Staking Rewards, at the time of writing, Avalanche has over 85,000 staking wallets and over 248 million AVAX tokens staked. The staking market capitalization of the blockchain was $3.3 billion.
<figure id="attachment_54854" aria-describedby="caption-attachment-54854" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-54854" src="https://bitcoinworld.co.in/wp-content/uploads/Staking-Rewards-AVAX-636x300.png" alt="" width="695" height="328" srcset="https://bitcoinworld.co.in/wp-content/uploads/Staking-Rewards-AVAX-636x300.png 636w, https://bitcoinworld.co.in/wp-content/uploads/Staking-Rewards-AVAX-1060x500.png 1060w, https://bitcoinworld.co.in/wp-content/uploads/Staking-Rewards-AVAX-768x362.png 768w, https://bitcoinworld.co.in/wp-content/uploads/Staking-Rewards-AVAX.png 1213w" sizes="(max-width: 695px) 100vw, 695px">
 <figcaption id="caption-attachment-54854" class="wp-caption-text">
 Staking Rewards AVAX
 </figcaption>
</figure>
&nbsp;
<h3 id="span-style-font-weight-400-a-look-at-avax-s-state-span">A Look at AVAX’s State&nbsp;</h3>
The network statistics of the blockchain surely bode favorably for AVAX’s pricing. The token has gained more than 11% in the last seven days, according to <a href="https://coinstats.app/coins/avalanche-2/" rel="noopener noreferrer nofollow">Coinstats</a>. It was trading at $13.39 as of press time, with a <a href="https://coinmarketcap.com/currencies/avalanche/" rel="noopener noreferrer nofollow">market valuation</a> of more than $4.7 billion.
<figure id="attachment_54856" aria-describedby="caption-attachment-54856" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-54856" src="https://bitcoinworld.co.in/wp-content/uploads/AVAX-Price-Chart-440x300.png" alt="" width="502" height="342" srcset="https://bitcoinworld.co.in/wp-content/uploads/AVAX-Price-Chart-440x300.png 440w, https://bitcoinworld.co.in/wp-content/uploads/AVAX-Price-Chart-733x500.png 733w, https://bitcoinworld.co.in/wp-content/uploads/AVAX-Price-Chart.png 768w" sizes="(max-width: 502px) 100vw, 502px">
 <figcaption id="caption-attachment-54856" class="wp-caption-text">
 AVAX Price Chart | Source: Coinstats
 </figcaption>
</figure>
According to AMBCrypto’s data, AVAX’s liquidation surged significantly over the last week, when the token’s price reached $13.2. However, this did not prevent prices from climbing in the following days.
AMBCrypto discovered that AVAX’s development activity has grown in the recent week, reflecting developers’ attempts to improve the network. The token’s Price Volatility 1w and Social Volume remained strong as a result of the price increase.
As seen by its green Binance Funding Rate, AVAX’s demand in the futures market remained robust at the time of writing.
<figure id="attachment_54853" aria-describedby="caption-attachment-54853" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-54853" src="https://bitcoinworld.co.in/wp-content/uploads/Avalanche-AVAX-720x244.png" alt="" width="806" height="273" srcset="https://bitcoinworld.co.in/wp-content/uploads/Avalanche-AVAX-720x244.png 720w, https://bitcoinworld.co.in/wp-content/uploads/Avalanche-AVAX-1080x365.png 1080w, https://bitcoinworld.co.in/wp-content/uploads/Avalanche-AVAX-1440x487.png 1440w, https://bitcoinworld.co.in/wp-content/uploads/Avalanche-AVAX-768x260.png 768w, https://bitcoinworld.co.in/wp-content/uploads/Avalanche-AVAX-1536x520.png 1536w, https://bitcoinworld.co.in/wp-content/uploads/Avalanche-AVAX.png 2048w" sizes="(max-width: 806px) 100vw, 806px">
 <figcaption id="caption-attachment-54853" class="wp-caption-text">
 Avalanche-AVAX
 </figcaption>
</figure>
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
The post <a href="https://bitcoinworld.co.in/how-avax-price-reacted-to-avalanches-rising-network-activity/" rel="noopener noreferrer nofollow">How AVAX Price Reacted To Avalanche’s Rising Network Activity?</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

How AVAX Price Reacted To Avalanche’s Rising Network Activity?

Table of Contents

ItsBitcoinWorld

Other articles published on Nov 10, 2023

Future Contracts

7 Good Reasons to Attend Sigma Europe 2023

India tightens control with 3,000 police officials trained in crypto investigations

Zcash

Cryptography

[9C M] Monthly Newsletter - Nov 2023

Join our free newsletter for daily crypto updates!