AVAX Sees 1M Active Monthly Users for the First Time Ever

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AVAX Sees 1M Active Monthly Users for the First Time Ever
  • Satoshi Club tweeted yesterday that AVAX achieved a major on-chain milestone.
  • The post noted that the project hit 1 million monthly active users for the first time ever.
  • AVAX’s was trading at $14.43 after a price rise of 2.45%; a bullish cross may happen

A crypto analysis platform, Satoshi Club, revealed in a Tweet yesterday that Avalanche (AVAX) reached a huge milestone recently. According to the post, the AVAX blockchain had crossed 1 million monthly active users for the first time in the project’s history.

AVAX monthly active users (Source: Twitter)

This could have a positive impact on AVAX as 1 million active users signifies increased adoption and market perception, potentially attracting more users, developers, and investors.CoinMarketCap indicated that AVAX was one of the many cryptocurrencies that experienced a price increase over the past 24 hours of trading.

At press time, the altcoin was worth about $14.43 after a price rise of 2.45% over the past day. This performance from AVAX enabled it to strengthen against the two market leaders, Bitcoin (BTC) and Ethereum (ETH), by about 1.51% and 0.77% respectively.

AVAX’s price increase was also able to flip its weekly performance back into the green to 2.25%. Meanwhile, the crypto’s 24-hour trading volume saw an increase of more than 5%, and stood at $118,542,690.

4-hour chart for AVAX/USD (Source: TradingView)

Looking at AVAX’s 4-hour chart, a significant bullish flag was on the verge of triggering. At press time, the 9 EMA line on the 4-hour chart was attempting to cross above the longer 20 EMA line. Should this cross happen, the altcoin’s price may look to flip the next resistance level at $14.52 into support.

Once AVAX’s price closes a 4-hour candle above the $14.52 mark, it will climb to $15.031 in the following 48 hours. On the other hand, failure to close a 4-hour candle above $14.52 within the next 24 hours will result in AVAX’s price dropping down to just above $14.

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