The Avalanche token price surged by 12% as investors began buying after the recent dip, accompanied by a significant increase in transaction volumes and active users in the network.
Price and Active Address Surge
The Avalanche token reached $20.65 on Saturday, June 7, up 12% from its lowest point this week.
Third-party data shows that the Avalanche network performed impressively, becoming the fastest-growing in the industry over the past week. The total number of active addresses increased by 23%, reaching 283,163.
Increase in Transaction Volumes and Stablecoins
In the past week, the Avalanche network handled over 5.2 million transactions, a 112% increase from the previous week. Revenue from the network jumped 193%, nearly hitting $200,000. Over the last 30 days, transaction counts surged by 326%, and active addresses increased by 312%, reaching 2.05 million.
The stablecoin network of Avalanche has also started to rebound, achieving a market cap of over $2.1 billion, the highest since February 19.
Impact of FIFA Partnership on Avalanche
The recent collaboration with FIFA, which plans to utilize Avalanche's methodology for its NFT sales, has also contributed to the growing interest in the network. This is significant for Avalanche, as NFT sales on its network amounted to only $103,000 over the past week.
The rise in Avalanche's price, increased transaction numbers, active addresses, and collaboration with FIFA emphasize the network's potential, despite possible risks in the market.
