Avalanche (AVAX) just recorded a 5.8% decrease in the past 24 hours, bringing the price down to $22.43. Although selling pressure is increasing, technical analyses show that AVAX still has the potential to reverse and bounce back if it can surpass the current resistance level.
However, even though market sentiment remains tilted positively, outflows from AVAX are gradually increasing – a sign that sellers are still active.
AVAX records a surge in activity
In the past 24 hours, the Avalanche (AVAX) network has witnessed a surge in usage levels. Data from Nansen shows that the number of active addresses has skyrocketed by 221%, while the number of transactions has jumped by 109% – a clear sign that a large number of investors are flooding into this ecosystem.
Notably, AVAX is not only being bought but is also being actively used to conduct these transactions – indicating that the token is playing a central role in recent on-chain activities.
In-depth analysis shows that nearly 90% (specifically 89.94%) of recent transactions on Avalanche are related to OpenSea – one of the largest NFT exchanges today.
This reflects a broader trend in the Web3 ecosystem, as NFT applications are gradually regaining their appeal. In the past 30 days, the NFT sector has become the second most efficient area across the market, recording an impressive growth of 78.1%.
The rise of NFT applications not only creates momentum for the Avalanche ecosystem recovery but also signals that NFTs could become a major driver of strong AVAX demand in the near future. If this trend continues, the price of AVAX could be significantly supported by new user influx and increased trading volume on the platform.
Source: Artemis
The positive impact of on-chain activity has clearly manifested through the transaction fees generated on Avalanche – rising from $19,500 on May 11 to $24,300 at the time of writing.
This is a sign that the blockchain is being actively used, reflecting the growing interest from real users.
However, high usage is not enough to ensure a sustainable upward price trend for AVAX. This is because market activity-related indicators – such as cash withdrawals from exchanges and liquidity – are currently not supporting the buyers.
Trading volume on centralized exchanges remains weak, while outflows indicate profit-taking sentiment and caution from investors.
This indicates that, although the platform is attracting attention in the application sector, the price of AVAX still faces significant pressure from the traditional trading market.
Outflows and low trading activity continue
Despite increased on-chain activity in the past 24 hours, AVAX is still facing liquidity withdrawal pressure from the ecosystem.
According to data from DeFiLlama, the total value locked (TVL) in protocols within the Avalanche ecosystem has decreased by 3.26%, from $1.519 billion to $1.469 billion. This equates to approximately $50 million of AVAX being sold – a signal that smart money is temporarily leaving the platform.
Source: Artemis
At the same time, trading volume on DEX exchanges within the Avalanche ecosystem has sharply decreased from $216.5 million to only $130.3 million, reflecting a significant decline in demand for decentralized trading.
These numbers paint a clear picture: for AVAX to maintain or expand its upward momentum, not only is a recovery in on-chain usage needed, but liquidity and real demand on both DEX and CEX must also be restored. Only when both channels – the platform and the market – develop in harmony can the upward price trend be sustainable.
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