Key Insights
- Avalanche (AVAX) has a market cap of $10.71 Billion, but it has declined, pushing its price below $30.
- However, the network has deployed over 122 million smart contracts, reflecting strong developer engagement.
- Additionally, Avalanche 9000 has completed 20 million transactions in 58 days, showcasing its efficiency.
Avalanche (AVAX), a cryptocurrency with a market cap of $10.71 Billion, has been gaining a grip in the blockchain ecosystem.
As one of the significant players in this space, the Avalanche price has caught the attention of many investors, particularly regarding its long-term price potential.
However, as of now, the Avalanche price has fallen below the $30 threshold. This decline can be attributed to several factors, including weak demand and substantial selling pressure in the market.
These pessimistic elements have combined to create a challenging environment for the AVAX price to grow. But many still find it promising due to its network growth.
What AVAX Price Chart History & Addresses Positions Highlights?
Last year, the Avalanche price experienced its most promising price movements during the first quarter and the fourth in 2024.
Where, in first, following the approval of a Bitcoin ETF, the market showed tremendous optimism for the sector. Consequently, Avalanche price jumped from around $27 to an impressive $65.
However, this momentum was short-lived, as by quarter second and third both Bitcoin and altcoins like AVAX crypto faced significant selling pressure. Which caused it to retreat to its support level near $17.
But, the landscape shifted dramatically in the fourth quarter. After hitting the $17 mark, the Avalanche price gradually gained momentum leading up to the November elections.
By that time, it had climbed to $22, coinciding with Donald Trump’s victory over Kamala Harris timeline on chart.
It showed that his win acted as a major trigger for both BTC and the altcoin market. As BTC went from $70K to over $100K, where AVAX price followed suit, rising from $22 to $55.
Thereafter, as 2025 began, notable price fluctuations emerged, with leading cryptocurrencies experiencing sharper declines.
This trend affected Avalanche price as well, which fell back to the $22 support zone, the same level from which it had rallied in Q4 2024.
Currently, this support level is crucial, as there’s a notable increase in buying activity. This suggests that this block could serve as a launching pad for AVAX price once again.
However, for AVAX to rise significantly, it must overcome three major resistance zones. According to the Global In/Out of Money (GIOM) data, the first key resistance lies between $27.82 and $35.13, where 1.11 million addresses have accumulated over 25.68 million AVAX.
The second major supply zone is between $35.13 and $39.87, with 1.16 million addresses purchasing 21.62 million tokens.
Finally, resistance exists between $39.87 and $51.83, where 1.32 million addresses bought over 21.88 million AVAX.
Additionally, the volume of tokens out of the money in this region exceeds those in the money between $13.00 and $24.45.
Therefore, holders may attempt to break even if the Avalanche price approaches this point, which could pull the price back down, also.
Avalanche Network Records Over 122M Smart Contract Deployments
The Avalanche blockchain ecosystem is witnessing a surge in network development, with over 122 million smart contracts deployed to date.
Notably, Avalanche 9000 has significantly transformed smart contract activities and has led to a remarkable increase in daily deployment rates.
Following this upgrade, the total number of contracts on the network has reached 200K, which reflects amplified developer engagement.
Throughout the ecosystem, transaction counts have consistently surpassed 10,000 daily deployments, showcasing a trend of continuous growth.
Moreover, as of January 29, 2025, Arbitrum has deployed 4.37 million contracts, AVAX crypto has reached 3.186 million, ETH stands at 7.816 million, and OP leads with 17.98 million.
These figures show the widespread adoption of smart contracts across multiple networks.
As a result of the rise in technical deployments and transaction counts, users are increasingly placing their trust in the scalability of these networks. This growing contract activity stresses the rising popularity of dApps among users.
Avalanche 9000 Upgrade is Electrifying Growth Across the Network
Not only was the growth limited to smart contracts, but the Avalanche 9000 network has also achieved a remarkable milestone by completing 20 million transactions in just 58 days. This highlighted its rapid rise in popularity and efficiency.
Now, the network has grown and consistently handling an impressive 355.4K daily operations, with a peak transaction volume reaching up to 596.2K in a single day.
Even its active blockchain activity remains stable, with the lowest recorded count at 235.8K transactions.
During the analyzed period, data indicated that about a quarter of the days had fewer than 294.9K transactions, while the majority exceeded 403.3K.
Similarly, the network has also demonstrated regular and steady transaction activity, with a median daily total stabilizing at 332.9K.
This trend illustrates the network’s ability to meet growing demands without any operational breakdowns.
Moreover, the blockchain’s transaction volume reflects effective high-load management, showcasing continuous usage.
The network’s capacity to handle significant transaction volumes through its daily peak performance suggests a promising future for scalability, as evidenced by the measured performance data. Apart from these, Avalanche 9000 has also boosted DEX Activity and also the NFT Market, as well.
Given the impressive on-chain data from the Avalanche 9000 network, its growing popularity and efficiency are clear.
If this growth trend continues, it is likely to attract more buyers, which could ultimately boost the price of AVAX as well.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
