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

Last Updated:
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.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.