Key notes
- The Avalanche C-Chain struck 35.8 million transactions in August, marking its second highest monthly total.
- The increase in chain activity is to stimulate the demand for Avox, to support network costs and to mark out.
- Avax Price is negotiated at $ 25.10 with a potential at $ 33, helped by the approval of Grayscale Avx ETF.
The Avalanche C-Chain has taken an important step in August with 35.8 million transactions, the second highest monthly total in its history. This achievement coincided with a potential escape in Avx
Avax
$ 25.36
24h volatility:
5.9%
COURTIC CAPESSION:
$ 10.70 B
Flight. 24 hours:
$ 806.25
price.
Avalanche C-Chain brings traction to the network
The chain is one of the intelligent avalanche contract channels, alongside the X chain, which manages asset transfers, and the P chain, which manages validators and jalitude.
Collectively, these channels facilitate the effective operation of avalanche operations, the management of a wide range of applications to maintain network safety.
By reaching 35.8 million transactions, the Avalanche C chain has helped stimulate the network. It is a reflection of growing activity on the intelligent contract platform.
The chain is specifically optimized for compatible Ethereum
Ethn
$ 4,467
24h volatility:
2.8%
COURTIC CAPESSION:
$ 539.19 B
Flight. 24 hours:
$ 32.08 B
smart contracts. It focuses on facilitation of rapid transactions and low compensation for decentralized financing applications (DEFI), non -fascinable tokens (NFT) and other DAPPs.
Fortunately, this had a positive impact on Avx’s price, the native cryptocurrency of the avalanche blockchain. With more users interacting with intelligent contracts, DEFI platforms and NFT projects, AVAX demand should increase. Indeed
At the time of writing the editorial staff, the AVAX price was set at $ 25.10, representing a 4.83% rally in the last 24 hours. Its 24-hour negotiation volume is $ 877.01 million with an increase of 26.73%, and its market capitalization exceeded $ 10.58 billion, which makes it the 17th largest cryptocurrency by this metric.
Gradually, Avax is getting closer to the level of resistance, and if it bursts with a strong volume and follow -up, it is expected to go to the next target upwards around $ 33.
The approval of the Grayscale Avax ETF, which was deposited in March, could also feed the AVAX price, probably pushing it to reach the next target upwards.
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Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
