{"id":308005,"date":"2023-04-24T21:00:23","date_gmt":"2023-04-24T15:30:23","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=308005"},"modified":"2023-04-24T14:28:42","modified_gmt":"2023-04-24T08:58:42","slug":"will-avalanches-nfts-help-avax-go-up-refer-to-these-metrics-for-an-answer","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/will-avalanches-nfts-help-avax-go-up-refer-to-these-metrics-for-an-answer\/","title":{"rendered":"Will Avalanche&#8217;s NFTs help AVAX go up? Refer to these metrics for an answer"},"content":{"rendered":"<ul>\n<li><em>The number of NFT trades on the Avalanche network surged and the interest in dApps increased.<\/em><\/li>\n<li><em>On the other hand, daily activity on the network declined.\u00a0<\/em><\/li>\n<\/ul>\n<p>The NFT market has primarily been dominated by Solana, Polygon, and Ethereum, attracting considerable user attention. Nevertheless, according to current data, <a href=\"http:\/\/ambcrypto.com\/avax-has-a-bleak-response-as-bears-gain-control-of-avalanche-assessing\/\" target=\"_blank\" rel=\"noopener\">Avalanche<\/a> may be poised to close the gap and compete with these protocols soon.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read Avalanche&#8217;s Price Prediction <a href=\"http:\/\/ambcrypto.com\/predictions\/avalanche-2-price-prediction\" target=\"_blank\" rel=\"noopener\">2023-2024<\/a><\/p>\n<hr \/>\n<p>According to recent<a href=\"https:\/\/twitter.com\/Flowslikeosmo\/status\/1650258265945821185?s=20\" target=\"_blank\" rel=\"noopener\"> data,<\/a> it was observed that Avalanche NFT transfers surged. During April, the Avalanche network experienced over 2 million NFT transfers, a figure that was five times greater than the previous month of March.<\/p>\n<figure id=\"attachment_308020\" aria-describedby=\"caption-attachment-308020\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/FublJXpaAAAGXiN.jpeg\"><img decoding=\"async\" class=\"wp-image-308020 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/FublJXpaAAAGXiN.jpeg\" alt=\"\" width=\"1200\" height=\"533\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/FublJXpaAAAGXiN.jpeg 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/FublJXpaAAAGXiN-300x133.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/FublJXpaAAAGXiN-1024x455.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/FublJXpaAAAGXiN-768x341.jpeg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption id=\"caption-attachment-308020\" class=\"wp-caption-text\">Source: Dune Analytics<\/figcaption><\/figure>\n<p>The increased interest in Avalanche NFTs could be attributed to Blue chip AVAX NFT collections. Over the past few months, popular\u00a0 NFT collections like Chikn and Doggerinos have witnessed a significant surge in volume, as per the data from <a href=\"https:\/\/avaxnftstats.com\/market-master\" target=\"_blank\" rel=\"noopener\">AVAX NFT STATS.<\/a><\/p>\n<p>The dApps operating on the Avalanche network experienced a similar level of interest. Trader Joe, one of the leading DEXs on the Avalanche network, witnessed a surge of 183.8% in the count of unique active wallets on its network in the past month.<\/p>\n<p>As a result, the volume and quantity of transactions on the network also increased during this period.<\/p>\n<figure id=\"attachment_308023\" aria-describedby=\"caption-attachment-308023\" style=\"width: 2538px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.11.42-PM.png\"><img decoding=\"async\" class=\"wp-image-308023 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.11.42-PM.png\" alt=\"\" width=\"2538\" height=\"1194\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.11.42-PM.png 2538w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.11.42-PM-300x141.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.11.42-PM-1024x482.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.11.42-PM-768x361.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.11.42-PM-1536x723.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.11.42-PM-2048x963.png 2048w\" sizes=\"(max-width: 2538px) 100vw, 2538px\" \/><\/a><figcaption id=\"caption-attachment-308023\" class=\"wp-caption-text\">Source: Dapp Radar<\/figcaption><\/figure>\n<h4>Still, a long way to go for Avalanche<\/h4>\n<p>However, despite interest in NFTs and high dApp activity, the overall number of daily active addresses on the network declined.<\/p>\n<p>Over the past month, the number of active addresses on the network fell from 79,740 to 75,000, according to Artemis&#8217; data. As a result, the number of transactions being made on the Avalanche network also went down.<\/p>\n<figure id=\"attachment_308026\" aria-describedby=\"caption-attachment-308026\" style=\"width: 1096px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.31.05-PM.png\"><img decoding=\"async\" class=\"size-full wp-image-308026\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.31.05-PM.png\" alt=\"\" width=\"1096\" height=\"890\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.31.05-PM.png 1096w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.31.05-PM-300x244.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.31.05-PM-1024x832.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.31.05-PM-768x624.png 768w\" sizes=\"(max-width: 1096px) 100vw, 1096px\" \/><\/a><figcaption id=\"caption-attachment-308026\" class=\"wp-caption-text\">Source: Artemis<\/figcaption><\/figure>\n<p>Moreover, there has been a decline in the level of interest in staking on the Avalanche network.<\/p>\n<p>According to Staking Rewards data, the count of stakers on the network decreased by 0.82% in the preceding week. At the time of reporting, the number of stakers on the Avalanche network stood at 84,419.<\/p>\n<figure id=\"attachment_308027\" aria-describedby=\"caption-attachment-308027\" style=\"width: 1232px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.32.57-PM.png\"><img decoding=\"async\" class=\"size-full wp-image-308027\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.32.57-PM.png\" alt=\"\" width=\"1232\" height=\"718\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.32.57-PM.png 1232w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.32.57-PM-300x175.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.32.57-PM-1024x597.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-24-at-12.32.57-PM-768x448.png 768w\" sizes=\"(max-width: 1232px) 100vw, 1232px\" \/><\/a><figcaption id=\"caption-attachment-308027\" class=\"wp-caption-text\">Source: Staking Rewards<\/figcaption><\/figure>\n<p>The state of the AVAX token wasn&#8217;t too well either. Over the past few weeks, the price of AVAX has experienced a substantial decline. Along with its volume, which decreased from 598 million to 149.23 million.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here&#8217;s AVAX&#8217;s market cap in <a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\">BTC terms<\/a><\/p>\n<hr \/>\n<p>Despite this, the development activity on the Avalanche network&#8217;s GitHub has continued to increase. The recent upgrades and updates on the network resulting from the development activity could have a positive impact on the AVAX token in the long run.<\/p>\n<figure id=\"attachment_308029\" aria-describedby=\"caption-attachment-308029\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-12.44.26-24-Apr-2023.png\"><img decoding=\"async\" class=\"wp-image-308029 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-12.44.26-24-Apr-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-12.44.26-24-Apr-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-12.44.26-24-Apr-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-12.44.26-24-Apr-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-12.44.26-24-Apr-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-12.44.26-24-Apr-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Avalanche-AVAX-12.44.26-24-Apr-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-308029\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Over the past month, the number of active addresses on the Avalanche network fell from 79,740 to 75,000, according to Artemis&#8217; data.<\/p>\n","protected":false},"author":73,"featured_media":308041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-308005","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Will Avalanche&#039;s NFTs help AVAX go up? 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