AVAX traders anticipate a new ATH even as Avalanche DApp use slows By Cointelegraph

AVAX traders anticipate a new ATH even as Avalanche DApp use slows

Cryptocurrency Apr 02, 2022 08:20PM ET

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AVAX traders anticipate a new ATH even as Avalanche DApp use slows

Avalanche (AVAX) jumped 43.8% between March 14 and March 31 to a $97.50 daily close, which is the highest level since Jan. 5. This layer-1 scaling solution uses a proof-of-stake model and has amassed $9 billion in total value locked (TVL) deposited on the network’s smart contracts.

AVAX token/USD at FTX. Source: TradingView

Some analysts attribute the rally to Avalanche’s incentive program to accelerate the adoption of subnets which was announced on March 9. According to the Avalanche Foundation, subnets enable functions that are only possible with “network-level control and open experimentation.”

Avalanche Total Value Locked, AVAX. Source: DefiLlama

Avalanche DApps 30-day data. Source: DappRadar

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AVAX traders anticipate a new ATH even as Avalanche DApp use slows

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