• Neither Trader Joe nor GMX had a higher trading volume than AVAX.
• AVAX has a more even distribution among whales and retail holders than the others.

The month of November proved to be vital for the Avalanche [AVAX] ecosystem. To a great degree, the transaction volume on the blockchain was unimpressive in October.

But as the 11th month began, volume skyrocketed, and by the second week, the volume reached heights it had not touched since May 2022.

No token edges out the flagship

Details from IntoTheBlock revealed a surge in activity involving tokens operating on the Avalance blockchain was responsible for the hike in volume. 

Apart from AVAX, two other notable cryptocurrencies that influenced the increase were Trader Joe [JOE] and GMX. However, despite their contributions, the native token AVAX still had the highest transaction volume.

AMBCrypto, with data provided by IntoTheBlock, also considered how the tokens compared in terms of holders in profits. At press time, AVAX’s price was $22.43. This value represents a 100% increase in the last 30 days.

JOE also jumped within the same period with a 53.05% increase. GMX, at $50.39, implies that the value increased by 12.50%. As a result, AVAX could boast of having 66% of its holders in
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Author: Victor Olanrewaju

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