Avalanche (AVAX), a high-performance Layer 1 blockchain, is showing noticeable growth in activity, indicating its development and potential in the cryptocurrency market.
Increase in Avalanche Activity
According to analysts, Avalanche has reached a maximum of transactions for the year, with a seven-day average exceeding 1 million. This is a clear sign of increased activity and network usage, pointing to its maturity.
Analyst Crypto King noted: “Avalanche has seen a sharp rise in on-chain activity, with the 7-day moving average of transactions surpassing 1 million — its highest level in over a year.”
Potential Bullish Reversal for AVAX
According to data from Pinnacle Charts, AVAX could gain momentum due to strong support and the formation of a possible bullish reversal pattern. “AVAX is bouncing from a strong support zone, forming a potential falling wedge — a bullish reversal pattern,” analysts suggest. Currently, AVAX is hovering around $18, with the potential to rise to the $20.20 – $21.17 range if momentum builds.
Avalanche Adoption in FIFA Ecosystem
Avalanche's adoption continues to expand, as FIFA has decided to utilize its network for creating its blockchain platform. This initiative aims to develop new products for the extensive user base of the football association.
With rising transactions and influence on large organizations like FIFA, Avalanche is making significant strides in the development of its network and the cryptocurrency market as a whole.
