Avalanche Active Addresses Hit All-Time High, Will AXAX Price Retest $40?
Avalanche holders expect a bull window that could take assets to levels not reached in months. The network records skyrocketing new users alongside an uptick in trading volume. The surge follows a broader increase in decentralized finance (DeFi) activity and institutional inroads into crypto assets.
New Addresses Tips New Upside Range
Avalanche recorded significant gains last week, hitting a new all-time high in active users. According to a Dune report, network addresses soared to 1.95 million after consistently growing in May. This kicks off another bullish trend after the previous attempt in January due to a perceived broader altcoin rally.
However, this wave is steered by institutional backing and frenzy in the blockchain gaming ecosystem. The launch of MapleStory Universe, the web3 version of Nexon’s RPG franchise, has boosted network demand, directly impacting sentiments. The game marked over 30 million transactions from 1 million wallets in its test phase, taking it above average in the gaming tier.
The platform’s pivot to Avalanche is crucial for performance and scalability and will benefit AVAX holders on a broader scale. Recent activity spikes will drive up demand for staking and gas.
While blockchain gaming suffered setbacks in Q1 2025 due to low DeFi activity, industry experts bid a smooth reversal this quarter. Similarly, on-chain data shows non-fungible token (NFT) transactions near the 2 million mark for the first time in two years. This DeFi resurgence has bolstered AVAX holders in the past weeks.
When writing, AVAX price trades at $23.15, a 3.5% uptick in 24 hours, while money gains soared above 21%. Following recent network activity, bulls aim to retest the $40 price if it beats the current resistance.
The short-term $27 resistance is a key breakout zone for the asset that could lead to a two-phase leap to $34 and $40. Some bulls pitched a parabolic rally to $50, which will rest on huge institutional adoption.
BlackRock Backs Avalanche
Institutional asset manager BlackRock has contributed immensely to Avalanche’s bullish momentum. The $9 trillion asset manager has launched BUIDL, BlackRock’s tokenized US Dollar treasury fund on Avalanche. This allows users to lock up and trade SBUIDL tokens, expanding the ecosystem to wider users.
AVA Labs President John Wu lauded the growth in tokenization and BlackRock’s institutional fund. “The financial landscape is undergoing a vast transformation. As more institutions move towards tokenization, we see significant leaps towards transformative digital financial services such as BUIDL that address investor demand and bring to bear blockchain-enabled capabilities and differentiators,” he added.
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Avalanche Active Addresses Hit All-Time High, Will AXAX Price Retest $40?
Avalanche holders expect a bull window that could take assets to levels not reached in months. The network records skyrocketing new users alongside an uptick in trading volume. The surge follows a broader increase in decentralized finance (DeFi) activity and institutional inroads into crypto assets.
New Addresses Tips New Upside Range
Avalanche recorded significant gains last week, hitting a new all-time high in active users. According to a Dune report, network addresses soared to 1.95 million after consistently growing in May. This kicks off another bullish trend after the previous attempt in January due to a perceived broader altcoin rally.
However, this wave is steered by institutional backing and frenzy in the blockchain gaming ecosystem. The launch of MapleStory Universe, the web3 version of Nexon’s RPG franchise, has boosted network demand, directly impacting sentiments. The game marked over 30 million transactions from 1 million wallets in its test phase, taking it above average in the gaming tier.
The platform’s pivot to Avalanche is crucial for performance and scalability and will benefit AVAX holders on a broader scale. Recent activity spikes will drive up demand for staking and gas.
While blockchain gaming suffered setbacks in Q1 2025 due to low DeFi activity, industry experts bid a smooth reversal this quarter. Similarly, on-chain data shows non-fungible token (NFT) transactions near the 2 million mark for the first time in two years. This DeFi resurgence has bolstered AVAX holders in the past weeks.
When writing, AVAX price trades at $23.15, a 3.5% uptick in 24 hours, while money gains soared above 21%. Following recent network activity, bulls aim to retest the $40 price if it beats the current resistance.
The short-term $27 resistance is a key breakout zone for the asset that could lead to a two-phase leap to $34 and $40. Some bulls pitched a parabolic rally to $50, which will rest on huge institutional adoption.
BlackRock Backs Avalanche
Institutional asset manager BlackRock has contributed immensely to Avalanche’s bullish momentum. The $9 trillion asset manager has launched BUIDL, BlackRock’s tokenized US Dollar treasury fund on Avalanche. This allows users to lock up and trade SBUIDL tokens, expanding the ecosystem to wider users.
AVA Labs President John Wu lauded the growth in tokenization and BlackRock’s institutional fund. “The financial landscape is undergoing a vast transformation. As more institutions move towards tokenization, we see significant leaps towards transformative digital financial services such as BUIDL that address investor demand and bring to bear blockchain-enabled capabilities and differentiators,” he added.
Read More
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