AVAX’s latest milestone could mean little for investors because…

AMBCrypto
AMBCrypto

28 Jun 2023 4:30 AM

Avalanche has indeed been benefiting from healthy growth in the last few weeks. But just how much of this address activity is new or recurrent? DeFiLama data revealed that most of the DeFi users (over 70%) on Avalanche were recurrent users....

  • Avalanche has achieved a new milestone with its monthly active addresses reaching 1.21 million.
  • Most of the users on Avalanche are recurrent users, with over 70% being existing users.
  • Despite the growth in monthly active addresses, other measures of growth, such as volume levels and TVL, are still relatively low.
  • AVAX, Avalanche's native cryptocurrency, has been bullish since June 10th and the increase in monthly active addresses could indicate further recovery.
  • The future of AVAX and Avalanche's growth potential is still uncertain, but the record number of monthly addresses is a positive sign.

The sentiment of the article is generally positive, highlighting Avalanche's achievement of reaching a new milestone and the potential for further recovery.

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You May Ask

What milestone did Avalanche achieve with its monthly active addresses?What percentage of users on Avalanche are recurrent users?What are some measures of growth that are still relatively low for Avalanche?Has AVAX been experiencing bullish or bearish trends recently?What does the increase in monthly active addresses suggest for the future of AVAX?

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