- Avalanche’s active users increased by 105% over the past three months.
- Avalanche network saw organic growth in revenue and user base.
- Nonetheless, AVAX couldn’t secure enough momentum for massive recoveries.
As we enter May, let us assess how Avalanche performed over the past months to determine whether it remains a lucrative investment in the coming four weeks. Recent data indicated that Avalanche retained healthy growth, though AVAX may hardly reflect this.
Orion Research indicated that Avalanche attained growth in several areas. The data showed Avalanche’s (daily) users increased by 105% over the past three months. Also, the core developer figure grew by 18% within that timeframe.
These findings show the platform explores a lucrative direction. Nonetheless, Avalanche’s on-chain data confirmed slowed activity within the past month, exploring monthly lows during this writing.
Meanwhile, Avalanche’s highlighted performance doesn’t reflect on AVAX’s price. For instance, the alt traded lower from its February highs during this publication. Also, the token’s volatility metric dipped to hit a 4-week low.
Can AVAX Equal the Network Trajectory
AVAX has had its lower-range trading inside an ascending setup. The asset’s bearish moves since April 19 recently hit ascending support. Nevertheless, the price has struggled with constricted upside, showing inadequate bullish strength. While writing this article, AVAX traded at $17.37.
Source – TradingView
While forecasting AVAX’s price could be challenging, interested participants can consider a few things. The asset’s MFI hovered near the mid-region, whereas the RSI swayed around 50%. That confirmed investor uncertainty in the token’s upcoming price movements.
The alt’s weighted sentiment witnessed an uptick following the recent support retest. Nonetheless, the restricted surges welcomed faded investor confidence. Declines in the supply by leading addresses confirm this. Despite investor concerns, the network’s positive growth will heighten investor confidence when the market favors bullish actions.
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