AVAX Coin's recent surge in value can be attributed to several factors. One key contributor is the emergence of the Stars Arena SocialFi protocol, which is seen as a potential game-changer in the world of social media applications and has generated positive sentiment around the Avalanche network. This increased interest has translated into a rise in AVAX Coin's price. Additionally, there is growing demand from investors who are seeking to profit from the coin's performance.

Avalanche, as a Layer 1 blockchain network and Ethereum competitor, has seized this opportunity to rebound despite the ongoing bear market, with recent gains of up to 13% over the past few days.

According to data from Santiment, there has been a noticeable uptick in social media activity related to AVAX Coin. This heightened engagement and awareness are directly linked to the Stars Arena platform, a decentralized SocialFi application similar to Twitter, which has garnered significant attention within the Avalanche network.

The platform swiftly addressed the vulnerability that became apparent yesterday. Only a sum of $2,000 was taken from the smart contract. According to DeFiLlama, Stars Arena now boasts a total locked value (TVL) of $1.48 million. This is a remarkably positive outcome for a platform that commenced operations just last week, with the TVL surging by an impressive 350% over the past three days.

As of the present moment, AVAX Coin is currently trading at a price exceeding $10.66. This development is highly optimistic, and given favorable conditions in the Bitcoin market, there is potential for it to reach the $14.5 target. Nevertheless, the trajectory of AVAX's price hinges on the ability to maintain the enduring popularity of the Stars Arena platform.