- Avalanche’s AVAX hits a 52-week high at $26.65, outshining competitors like TRX and LINK.
- Nearly 96% of Avalanche’s transactions come from Ordinals, boosting demand and fees.
- Overbought signal and strong CMF hint at potential price correction or reversal.
Avalanche’s native cryptocurrency, AVAX, has recently seen an impressive surge, climbing 15% to a 52-week high of $26.65 and entering the top ten cryptocurrency list, according to CoinMarketCap. This remarkable growth has outpaced competitors like Tron (TRX) and Chainlink (LINK).
At press time, AVAX was trading at $25.82, boasting a market cap of $9.4 billion. This upswing represents a significant increase in value, with monthly gains exceeding 110%. The 24-hour trading volume has also risen sharply by 65%, reaching $1.2 billion.
The Avalanche network has experienced a notable increase in activity. This uptick mirrors trends observed in networks like Polygon. A key driver of this activity is the adoption of Ordinals. Ordinals minting has been responsible for nearly 96% of the network’s total transactions over the past week. This heightened activity has …
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Source: https://coinedition.com/avax-surges-to-a-52-week-high-will-the-rally-continue/