Avalanche (AVAX) has experienced significant growth in network activity since May, with transaction volume surging by 585% in just three months. This increase suggests that more users and projects are adopting the platform.
Despite this strong network performance, AVAX's price has recently faced a downturn, falling below key technical levels like the 50-day and 100-day moving averages. The price drop has pushed AVAX out of its recent upward trend, with potential support levels now at around $22.65 and $21.85. The Bull Bear Power indicator also suggests that any price recovery may be weak.
On-chain data shows continued user expansion, with the number of unique wallet addresses now exceeding 50 million. Avalanche ranks second only to Ethereum in average monthly transaction volume per user. The network is also attracting major institutional players. For example, Toyota is exploring a new mobility platform on Avalanche, and SkyBridge Capital plans to tokenize $300 million in assets on the network.
Furthermore, Avalanche is gaining traction as a platform for stablecoins and tokenization projects. Notably, a new state-issued stablecoin in Wyoming and a newly approved yen-pegged stablecoin in Japan have both chosen to launch on the Avalanche network, signaling growing institutional confidence in its real-world applications.
August 2025, Cryptoniteuae