Avalanche (AVAX), a prominent layer-1 blockchain platform, is experiencing a surge in monthly active wallets. Despite this, the price of AVAX has plummeted by over 60% since late 2024, currently trading at 2021 levels. This disparity raises questions about whether AVAX is undervalued or facing underlying challenges. The number of daily active wallets on the Avalanche C-Chain has surpassed 100,000, indicating significant growth. Moreover, monthly active wallets on Avalanche have spiked from below 500,000 to 2.2 million in a month, signaling increased interest from users and developers. However, the disconnect between on-chain activity and AVAX's market price has led to speculation about accumulation opportunities. While positive developments like the launch of MapleStory Universe and institutional attention have boosted activity, concerns linger due to the SEC's delay of the AVAX ETF application and the sluggish altcoin market. Investors are advised to monitor market conditions for potential long-term accumulation opportunities. Read more AI-generated news on: https://app.chaingpt.org/news

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