On-chain activity in Avalanche's C-Chain has increased, with daily active wallets exceeding 100,000, surpassing the levels seen during the AVAX peak in 2021.
Despite the increase in network usage, the price of AVAX remains around 20 dollars, more than 60% below its peak at the end of 2024, suggesting a possible undervaluation.
Analysts view the current price range as a historical demand zone, indicating a potential opportunity for long-term accumulation.
Avalanche (AVAX), one of the leading Layer 1 blockchain platforms, is drawing attention with its impressive monthly growth of active wallets.
However, despite the surge in active addresses, the price of AVAX remains worryingly low. It has fallen more than 60% since late 2024 and is now trading at 2021 levels. This raises an important question: Is Avalanche being undervalued by the market, or is this a sign of deeper challenges?
