- The total number of non-zero addresses on Avalanche climbed above 6 million.
- AVAX recorded gains of 4.1% in the 24-hour period.
Avalanche [AVAX] was one of the best-performing cryptocurrencies over the last month, having doubled its market price to $21.04 at press time, AMBCrypto gleaned from CoinMarketCap’s data.
The asset also brushed aside developing FUD over Binance’s CEO resignation and recorded gains of 4.1% in the 24-hour period.
The price rally boosted trading activity for the asset on exchanges, as per AMBCrypto’s observation of Santiment’s data. In fact, daily trading volume spiked to a six-month high of nearly $2 billion on the 16th of November.
Source: Santiment
Investors also became more optimistic about AVAX’s prospects, as reflected by the positive weighted sentiment indicator.
AVAX’s adoption grows
As sentiment around AVAX shifted, the underlying network began to benefit. The total number of non-zero addresses on Avalanche climbed above 6 million as of this writing, according to IntoTheBlock.
The steady increase in the count indicated an influx of new users to the network. It could also be interpreted as an accumulation by previously inactive wallets.
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Author: Aniket Verma
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