The Layer 1 network’s key metrics and token price are on the rise in anticipation of digital asset treasuries accumulating AVAX.
The Avalanche network’s key metrics and native token are soaring, leading up to the first AVAX digital asset treasury (DAT).
August marked the Layer 1 blockchain’s highest decentralized exchange (DEX) volumes since 2022. The network processed $12 billion in DEX volume in August and has already surpassed $9 billion in September.
Avalanche DEX Volumes – DeFiLlamaThe AVAX token is also rallying, reaching its highest price since January. AVAX is currently changing hands for $34.8, a 20% rise over the last week and a 115% increase from its April low of $16. However, it remains 35% below its December high of $54.
Amid the rising activity, the total value locked (TVL) on the chain has increased more than 100% over the last six months.
This week’s price action can be attributed to the strength of the broader altcoin market and speculation on future inflows as the Avalanche Foundation looks to line up a $1 billion DAT raise.
Source: https://thedefiant.io/news/blockchains/avalanche-ecosystem-takes-off-as-avax-surges
