Original - Odaily
Author - Asher
Yesterday, BTC started a correction and briefly fell below 41,000 USDT, reaching as low as 40,200 USDT. Other mainstream currencies (such as ETH, SOL, etc.) also followed the decline and began to decline. However, Avalanche (AVAX) rose against the trend, rising to a maximum of 43 USDT this morning, with an increase of more than 15% in 24 H, an increase of 82.9% in 7 D, and its market value ranking also climbed to tenth place.
Although we missed out on AVAXs recent rally, we still have a chance to capture the next wave of potential opportunities by delving deeper into its ecosystem. In this cryptocurrency market full of variables, a deeper understanding of AVAX’s ecological projects may bring us more discoveries and opportunities.
Whats driving the AVAX price surge?
First of all, through on-chain data observation, it is found that in the past month, Avalanches TVL growth rate is comparable to Solana, and even shows a trend of surpassing it. This shows that the Avalanche ecosystem has made significant achievements in attracting funds and users. Compared with other mainstream blockchain projects, Avalanches total TVL also shows strong growth.
Secondly, the daily active address data of the Avalanche ecosystem has grown rapidly from only 28.27 K in early October to nearly 70 K in recent days, an increase of more than 147%. This significant growth not only reflects the rapid expansion of the user base of the Avalanche network, but also demonstrates the strong interest of investors and users in this ecosystem. Growing user activity may be a key factor in Avalanche’s sudden emergence in the market.
Finally, analyzing the daily transaction volume on the Avalanche ecological chain, it is not difficult to find that since October this year, this data has shown an overall growth trend. This shows that transaction activities in the Avalanche ecosystem are becoming increasingly frequent and users’ participation in the network is gradually increasing. This significant growth in transaction volume not only reflects the vitality of the Avalanche ecosystem, but also becomes an important signal for investors to pay attention to.
AVAX Feast: What are investors chasing?
Judging from the capital flow data, the Avalanche ecosystem has continued to attract capital in the past two months. Moreover, more than 77% of addresses have continued to receive inflows in recent days. So, what hot investment opportunities are these addresses chasing in the Avalanche ecosystem?
With the substantial increase in the price of AVAX, the meme, DeFi, GameFi and other sectors in the Avalanche ecosystem have experienced varying degrees of surge. The following picture shows the popular projects in the Avalanche ecosystem with outstanding token growth in the past 30 days. The following will be detailed by sector. analyze.
First, the most hyped sector at the moment is undoubtedly the meme sector, and the meme currency of the Avalanche ecosystem is no less popular than other public chains. Among them, HUSKY, the first “dog” on Avalanche, has experienced an astonishing increase of more than 4,200% in the past 30 days, attracting widespread attention. In addition, COQ is a newly launched MeMe coin last week. In less than a week, it has become one of the most watched MeMe coins on Avalanche, and the community even hails it as PEPE in the Avalanche ecosystem.
Second, in the DeFi sector, Trader Joe, the DEX leader on the Avalanche network, and BENQI, the lending leader, are still the core of this round of gains. Trader Joes current main business is spot trading. Its TVL has increased by more than 67% in the past month, reaching $117 million, and its token JOE has also increased by more than 158% in the past 30 days. Lending leader BENQI also performs very well, TVL ranks first in the Avalanche ecosystem, and the token QI has increased by as much as 344% in the past 30 days.
Third, in the GameFi sector, projects worthy of attention include Shrapnel, HeroesChained, etc. About Shrapnel, it is a first-person shooter (FPS) game with a science fiction theme. Developed by game development studio Neon Machine, the studio completed a $20 million Series A round of financing at the end of October, led by Polychain Capital, with participation from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures. They will use this round of financing to further develop their shooting game Shrapnel. Their game team will release an early access version this month, and its token SHRAP has increased by more than 361% in a month. Another popular game, Heroes Chained, is a fantasy action RPG game. The token is HEC, which also has a good increase.
Fourth, regarding the NFT sector, currently trading NFTs mainly uses the NFT created by the Trader Joe team.JoepegsNFT, which is the native NFT marketplace on the Avalanche network. According to the trading volume ranking within 7 days, BloodLoop is the No. 1 NFT on JoepegsNFT, with a floor price of 59 AVAX, an increase of 9% from the floor price a week ago. Dokyo World is an NFT project with a very impressive floor price performance in the past week. Its floor price is 51.5 AVAX. Its trading volume has increased by more than 553% in the past seven days. It is called the Mad lads of the Avalanche ecosystem by the community.
Fifth, in addition to the frequently mentioned sections, there are other sections that have received attention, especially the Launchpad section. As the market situation improves, new projects have emerged more and more. As a high-profile Launchpad project in the Avalanche ecosystem, its token XAVA has also shown impressive growth.
Conclusion
Overall, the Avalanche ecosystem currently shows a trend of increasing popularity in multiple sectors such as meme, DeFi, GameFi and NFT. Therefore, projects currently attracting much attention deserve continued attention.
At the same time, although the discussion of the inscription sector is relatively low, considering that it is the most popular sector in the current market, it may show eye-catching performance in the Avalanche ecosystem in the future, so we need to pay more attention and pay close attention to the further development of the market. .
