Strong growth in Avalanche network due to increasing interest in Euroc-Stablecoin, while investors are pessimistic
Strong growth in Avalanche network due to increasing interest in Euroc-Stablecoin, while investors are pessimistic
Avalanche network lists strong growth with increasing interest in Euroc
The Avalanche network, also known as the Avalanche (AVAX), has recorded a considerable increase in activities in recent months. One main reason for this is the increasing interest in stablecoins, especially in Euroc. Euroc is a stable coin that is covered by the euro and is available on Ethereum and Avalanche. This stable coin is output as part of a full reserve model from Circle, similar to USDC.
According to current data, the Avalanche network has a larger trade volume from Euroc as a coin base and Ethereum. In particular, the activities of the DAPP dealer Joe drove the volume in the Avalanche network. According to CoinmarketCap, the volume in connection with Euroc has risen by 35.5 % in the last 24 hours.This growing interest in Euroc has also led to the number of daily active users of the Avalanche protocol rose by 2.4 %. Sales rose by 13.5 %in the same period. It is clear that the increasing interest in Euroc in Avalanche has a positive impact on the activities in the network.
The growth of the Avalanche network is also reflected in the price of the Avax token. The Avax price has increased by 32.58 % since June 10, after the level of support of $ 10.72 has been tested. The price shows higher low and higher highs, which indicates an upward trend. The RSI and the CMF indicate that both the dynamics of the buyers and the money flow are positive.
dealers are optimistic about Avax. Coinglass's data show that the proportion of bullish positions has increased from 47 % to 52 % in the past few days. This underlines the trust of the dealers in the long -term upward trend of Avax.
However, the data of the staking rewards show that the number of addresses that use the avalanches has dropped by 2.97 % in the past week. This indicates that not all players share the same optimism.
Overall, it can be said that the Avalanche network benefits from the increasing interest in Euroc, which has led to an increase in trading volume and an increase in user activity. The price of the Avax token reflects this growth and has created a positive mood among the dealers. Although there are some concerns, the data overall shows an optimistic perspective for avalanches and its position on the market.
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