Avalanche launched a new update for its subnets, and as a result, it observed growth in terms of its development activity. However, despite the growth on the technological front, the sentiment around AVAX continued to remain negative. Other factors such as the number of active addresses and Avalanche’s performance in DeFi could paint a clearer picture for what's to come for AVAX.
Furthermore, despite a growth in the number of monthly transactions, Avalanche was not able to show improvements on some other fronts.
The network didn’t witness any noteworthy performance in the DeFi space, as can be seen from the image below. Avalanche’s total value locked declined significantly over the past month. At press time, the TVL stood at 1.37 billion and it had appreciated by 2.58% in the last 24 hours.With both positive and negative factors affecting AVAX, it would be difficult to predict where the price of AVAX will go in the future.
At the time of writing, AVAX was trading at $18.46 and had appreciated by 7.78% in the last 24 hours according to . Its volume also increased significantly and went up by 7.73% during the same period. Its market cap also went up by 8.03% and at press time AVAX had captured 0.5% of the overall crypto market.Subscribe to get it daily in your inbox.