{"id":317577,"date":"2023-06-01T10:00:24","date_gmt":"2023-06-01T04:30:24","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=317577"},"modified":"2023-05-31T18:45:52","modified_gmt":"2023-05-31T13:15:52","slug":"why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\/","title":{"rendered":"Why AVAX\u2019s prospects look bleak despite a surge in addresses"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Avalanche C-chain transactions declined by more than 30% last week.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Market indicators were bearish, which could cause a further price decline.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Avalanche [AVAX]<\/span><span style=\"font-weight: 400;\"> has reached a new milestone that reflects its increased adoption and usage. As per Token Terminal, AVAX\u2019s monthly active users reached a new all-time high. Not only that, but as per Artemis, daily active addresses were also on the rise.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcca<a href=\"https:\/\/twitter.com\/avax?ref_src=twsrc%5Etfw\">@avax<\/a> monthly active users at all-time highs <a href=\"https:\/\/t.co\/gJ1MRy5Ssn\">pic.twitter.com\/gJ1MRy5Ssn<\/a><\/p>\n<p>&mdash; Token Terminal \ud83d\udcca (@tokenterminal) <a href=\"https:\/\/twitter.com\/tokenterminal\/status\/1663567399805935619?ref_src=twsrc%5Etfw\">May 30, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">However, despite the growth, AVAX C-chain\u2019s weekly transactions declined by nearly 30%. The decline in the number of transactions also affected the network\u2019s total gas use, which also registered a slight decline last week.\u00a0\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udd3a<a href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\">#Avalanche<\/a> C-chain weekly on-chain status\ud83d\udd3a<\/p>\n<p>\ud83d\udd25Network Status<br \/>Transactions: 9566534 -29.96%<br \/>Max TPS Observed: 188 -60.64%<br \/>Gas Used: 6.45T -1.21%<\/p>\n<p>\ud83d\udd25Staking:<br \/>Staking ratio: 59.17%<br \/>Staking rewards: 8.06%<br \/>Total validators: 1,272<br \/>Total delegations: 85,723<a href=\"https:\/\/twitter.com\/hashtag\/AVAX?src=hash&amp;ref_src=twsrc%5Etfw\">#AVAX<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$AVAX<\/a> <a href=\"https:\/\/t.co\/WrGCGRtWrk\">pic.twitter.com\/WrGCGRtWrk<\/a><\/p>\n<p>&mdash; Hyperliquid Daily (@HYPERDailyTK) <a href=\"https:\/\/twitter.com\/HYPERDailyTK\/status\/1663401530349740034?ref_src=twsrc%5Etfw\">May 30, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4><strong>NFT space performed well, but network value went down<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Interestingly,<\/span><a href=\"http:\/\/ambcrypto.com\/avalanche-this-update-could-open-doors-for-avax-bulls-because\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">AVAX<\/span><\/a><span style=\"font-weight: 400;\">\u2019s NFT ecosystem witnessed growth over the past week. According to Santiment\u2019s chart, AVAX\u2019s total NFT trade count and trade volume in USD spiked, which looked encouraging.\u00a0<\/span><\/p>\n<figure id=\"attachment_317578\" aria-describedby=\"caption-attachment-317578\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.24.02-31-May-2023.png\"><img decoding=\"async\" class=\"wp-image-317578 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.24.02-31-May-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.24.02-31-May-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.24.02-31-May-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.24.02-31-May-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.24.02-31-May-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.24.02-31-May-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.24.02-31-May-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-317578\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">AVAX Daily also posted a tweet mentioning the top TVL gainers in the last week. As per the tweet, Kalmy App, SushiSwap, and WOOFi Swap sat in the top three spots.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Apart from these, Trader Joe Lend and Kyber Swap also made it to the top five on the same list. But Artemis\u2019<\/span><a href=\"https:\/\/app.artemis.xyz\/dashboard\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> revealed that AVAX\u2019s TVL gained downward momentum in the last 30 days.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"ht\" dir=\"ltr\">Top TVL Gainers on Avalanche Ecosystem last 7D<a href=\"https:\/\/twitter.com\/search?q=%24KALM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$KALM<\/a> <a href=\"https:\/\/twitter.com\/kalmar_io?ref_src=twsrc%5Etfw\">@kalmar_io<\/a><a href=\"https:\/\/twitter.com\/search?q=%24SUSHI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SUSHI<\/a> <a href=\"https:\/\/twitter.com\/SushiSwap?ref_src=twsrc%5Etfw\">@SushiSwap<\/a><a href=\"https:\/\/twitter.com\/search?q=%24WOO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$WOO<\/a> <a href=\"https:\/\/twitter.com\/_WOOFi?ref_src=twsrc%5Etfw\">@_WOOFi<\/a><a href=\"https:\/\/twitter.com\/search?q=%24JOE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$JOE<\/a> <a href=\"https:\/\/twitter.com\/TraderJoe_xyz?ref_src=twsrc%5Etfw\">@traderjoe_xyz<\/a><a href=\"https:\/\/twitter.com\/search?q=%24KNC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$KNC<\/a> <a href=\"https:\/\/twitter.com\/KyberNetwork?ref_src=twsrc%5Etfw\">@KyberNetwork<\/a><a href=\"https:\/\/twitter.com\/search?q=%24PORTX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PORTX<\/a> <a href=\"https:\/\/twitter.com\/chain_port?ref_src=twsrc%5Etfw\">@chain_port<\/a><a href=\"https:\/\/twitter.com\/search?q=%24DF&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DF<\/a> <a href=\"https:\/\/twitter.com\/dForcenet?ref_src=twsrc%5Etfw\">@dForcenet<\/a><a href=\"https:\/\/twitter.com\/search?q=%24RELAY&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$RELAY<\/a> <a href=\"https:\/\/twitter.com\/relay_chain?ref_src=twsrc%5Etfw\">@relay_chain<\/a><a href=\"https:\/\/twitter.com\/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FLOKI<\/a> <a href=\"https:\/\/twitter.com\/FlokiFi?ref_src=twsrc%5Etfw\">@FlokiFi<\/a><a href=\"https:\/\/twitter.com\/search?q=%24DPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DPX<\/a> <a href=\"https:\/\/twitter.com\/dopex_io?ref_src=twsrc%5Etfw\">@dopex_io<\/a><a href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\">#Avalanche<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/AVAX?src=hash&amp;ref_src=twsrc%5Etfw\">#AVAX<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$AVAX<\/a> <a href=\"https:\/\/t.co\/o2mjOQJ0UW\">pic.twitter.com\/o2mjOQJ0UW<\/a><\/p>\n<p>&mdash; Hyperliquid Daily (@HYPERDailyTK) <a href=\"https:\/\/twitter.com\/HYPERDailyTK\/status\/1663385987349618689?ref_src=twsrc%5Etfw\">May 30, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4><strong>Avalanche\u2019s price not favoring the investors<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Avalanche investors were having a hard time on 31 May 2023 as the token\u2019s price declined sharply. CoinMarketCap\u2019s<\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/avalanche\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> suggested that AVAX\u2019s price dropped by more than 3% in the last 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> At the time of writing, it was trading at $14.11 with a market capitalization of over $4.8 billion.<\/span><\/p>\n<p><a href=\"http:\/\/ambcrypto.com\/avax-bulls-defended-key-14-support-will-the-rally-sustain\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">AVAX<\/span><\/a><span style=\"font-weight: 400;\">\u2019s 1-week price volatility also registered an uptick lately, which indicated the possibility of a further price decline. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">AVAX\u2019s popularity also took a blow as its social dominance fell. Nonetheless, the token\u2019s demand in the derivatives market was high, reflecting its demand in the derivatives market.\u00a0<\/span><\/p>\n<figure id=\"attachment_317579\" aria-describedby=\"caption-attachment-317579\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.30.53-31-May-2023.png\"><img decoding=\"async\" class=\"wp-image-317579 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.30.53-31-May-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.30.53-31-May-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.30.53-31-May-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.30.53-31-May-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.30.53-31-May-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.30.53-31-May-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Avalanche-AVAX-17.30.53-31-May-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-317579\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">How much are<\/span> <span style=\"font-weight: 400;\">1,10,100 TRXs worth today<\/span><span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<h4><strong>Investors should be prepared<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Avalanche\u2019s market indicators were also bearish. For instance, the 20-day Exponential Moving Average (EMA) was below the 55-day EMA, which is a typical bearish signal. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Its Relative Strength Index (RSI) was also resting way below the neutral zone.<\/span><a href=\"http:\/\/ambcrypto.com\/avalanche-activity-spikes-how-will-avax-react\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">AVAX<\/span><\/a><span style=\"font-weight: 400;\">\u2019s Money Flow Index (MFI) also followed the same declining trend, further increasing the chances of a continued price dip in the days to follow.\u00a0<\/span><\/p>\n<figure id=\"attachment_317580\" aria-describedby=\"caption-attachment-317580\" style=\"width: 1814px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSDT_2023-05-31_17-33-48.png\"><img decoding=\"async\" class=\"wp-image-317580 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSDT_2023-05-31_17-33-48.png\" alt=\"\" width=\"1814\" height=\"778\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSDT_2023-05-31_17-33-48.png 1814w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSDT_2023-05-31_17-33-48-300x129.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSDT_2023-05-31_17-33-48-1024x439.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSDT_2023-05-31_17-33-48-768x329.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAXUSDT_2023-05-31_17-33-48-1536x659.png 1536w\" sizes=\"(max-width: 1814px) 100vw, 1814px\" \/><\/a><figcaption id=\"caption-attachment-317580\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Avalanche NFT space registered growth last week, but TVL declined. However, AVAX\u2019s funding rate was green, reflecting its demand in the derivatives market.<\/p>\n","protected":false},"author":75,"featured_media":317585,"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-317577","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>Why AVAX\u2019s prospects look bleak despite a surge in addresses - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Avalanche [AVAX] has reached a new milestone that reflects its increased adoption and usage as its monthly active user reached a new ATH.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why AVAX\u2019s prospects look bleak despite a surge in addresses - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Avalanche NFT space registered growth last week, but TVL declined. However, AVAX\u2019s funding rate was green, reflecting its demand in the derivatives market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-01T04:30:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AVAX-3.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Dipayan Mitra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/DiDipayan\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dipayan Mitra\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\\\/\"},\"author\":{\"name\":\"Dipayan Mitra\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/a3c1a47ad2d3e2a023516862993813cd\"},\"headline\":\"Why AVAX\u2019s prospects look bleak despite a surge in addresses\",\"datePublished\":\"2023-06-01T04:30:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\\\/\"},\"wordCount\":439,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/AVAX-3.png\",\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/why-avaxs-prospects-look-bleak-despite-a-surge-in-addresses\\\/\",\"name\":\"Why AVAX\u2019s prospects look bleak despite a surge in addresses - 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