- AVAX blockchain surpasses 1 million monthly active users milestone.
- AVAX’s price surge positively impacts its adoption and market perception.
- AVAX’s trading volume witnesses notable uptick, signaling promising market performance.
Satoshi Club, a prominent crypto analysis platform, has announced a significant achievement for Avalanche (AVAX) in a recent tweet. The AVAX blockchain has surpassed a remarkable milestone, with over 1 million monthly active users recorded for the first time in the project’s history. This impressive feat is a testament to the platform’s growing popularity and adoption within the crypto community.
The recent surge in AVAX’s active user base, reaching a remarkable one million, is expected to impact its adoption and market perception favorably. This milestone could attract a wider audience of users, developers, and investors, further bolstering its growth trajectory. As per CoinMarketCap’s latest report, AVAX was among the cryptocurrencies that witnessed a price hike in the last 24 hours of trading.
As of the latest update, the altcoin’s value stands at approximately $14.43, having experienced a 2.45% surge in the past 24 hours. This impressive performance by AVAX has allowed it to gain ground against the two dominant players in the market, Bitcoin (BTC) and Ethereum (ETH), with a respective increase of 1.51% and 0.77%.
AVAX’s price surge has successfully propelled its weekly performance into positive territory, registering a 2.25% increase. Additionally, the cryptocurrency’s trading volume has witnessed a notable uptick of over 5%, reaching a substantial $118,542,690 within 24 hours. These developments signify a promising outlook for AVAX’s market performance.
Upon analyzing AVAX’s 4-hour chart, a promising bullish flag will unfurl. As of now, the 9 EMA line on the chart is making a valiant effort to surpass the longer 20 EMA line. If this crossover comes to fruition, the altcoin’s value could soar and surpass the next resistance level at $14.52, transforming it into a solid support level.
According to market analysis, AVAX’s price is poised to move significantly. If the price closes a 4-hour candle above the $14.52 threshold, it is expected to soar to $15.031 within the next 48 hours. However, if the price fails to close above $14.52 within the next 24 hours, it will likely experience a dip and settle just above $14. Investors are always advised to exercise caution and make informed decisions based on market trends and analysis.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
