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Avalanche stablecoin records this milestone, but AVAX stumbles

Press Releases Crypto News AMB-Crypto Avalanche stablecoin records this milestone, but AVAX stumbles

Avalanche got an influx of cash into the network.
The price of AVAX has increased by over 4%.

Avalanche [AVAX] recently achieved a significant milestone in its stablecoin market cap. In light of this recent accomplishment, how have other crucial metrics reacted?

Avalanche stablecoin hits months-high levels

An analysis of the stablecoin market cap metric on DefiLlama for Avalanche showed that the network has recently reached a level that has yet to be observed in months.

According to the data, at the time of this writing, the stablecoin market cap was around $1.15 billion.

This surge is significant, considering that the stablecoin market cap was previously around $1 billion, following a notable decline around November 2023.

However, in the last 48 hours, there has been a sharp increase, propelling it to its press time level.

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Author: Adewale Olarinde

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