AVAX Price Shoots 14% As Avalanche Daily Transactions Shoot 85%

Bhushan Akolkar
February 2, 2023 Updated May 28, 2025
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Top 3 Cryptos to Buy as AVAX Price Turns Bearish

AVAX, the native cryptocurrency of the Avalanche blockchain network is up by 14% at press time and is trading at $22.32 levels. With this recent price boost, the AVAX price is up by more than 100% on the monthly chart.

The latest price rally comes as Avalanche is reviving the hope for mass adoption after partnering with a structured finance platform Intain. IntainMARKETS is an on-chain marketplace for tokenized asset-backed securities. It allows clients to issue and trade asset-backed securities on-chain.

On Tuesday, January 31st, Avalanche announced that it will host Intain as the first institutional subnet. This is an important milestone for the entire Avalanche ecosystem and could help towards the platform’s institutional adoption.

Speaking of the development, John Wu, President at Ava Labs said:

“The sheer scale of the opportunity with IntainMARKETS is impressive. We want Avalanche to be the blockchain protocol of choice for traditional financial assets to come on-chain and this platform addresses a $2 trillion issuance market opportunity.”

Avalanche Network Daily Transactions Jump 85%

The recent price rally for AVAX comes amid a strong boost in the daily transactions taking place on the Avalanche blockchain network. The Messari report for the fourth quarter of 2022 shows that both Avalanche’s network and ecosystem have been growing.

Despite several roadblocks like the FTX collapse, the daily Avalanche subnets showed impressive transactions. During Q4 2022, the daily active addresses jumped by 3.2% from the previous quarter reaching 48,023. Similarly, the average daily transactions shot up by a massive 85% from the previous quarter, reaching a high of 2,881,20.

Besides, the total transactions per second also nearly doubled from 18 in Q3 to 33 in Q4. However, the total value-locked on the Avalanche DeFi space declined by 25% during the last quarter. Similarly, developer engagement on Avalanche was also on a decline. The unique smart contracts verification dropped by 23.7% quarter-over-quarter and a decline of 59% year-over-year.

With the recent price rally, AVAX holds the potential to hit $30 in the near term. The next immediate resistance for AVAX is $26.

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.