Things are looking up for the Avalanche network lately. I mean, the numbers don’t lie, and they’re pointing to a pretty strong period of activity. It’s a noticeable shift from the quieter months we saw earlier this year.
Perhaps most telling is the surge in trading. August turned out to be the network’s biggest month for decentralized exchange volume since way back in 2022. The figure was a hefty $12 billion. And September isn’t looking too shabby either, already clocking in over $9 billion. That’s a lot of movement.
AVAX Token Joins the Rally
And it’s not just trading volume. The network’s native token, AVAX, is on a run of its own. It just hit its highest price point since January, sitting at around $34.80 as of this writing. That’s a solid 20% jump in just the past week. If you look back a bit further, the climb is even steeper—up about 115% from its low in April.
But it’s worth keeping that in perspective. The token is still trading about 35% below its peak from last December. So it’s a strong recovery, but not quite an all-time high. Not yet, anyway.
What’s Driving The Momentum?
This week’s price action seems to be part of a broader altcoin market lift. There’s a general sense of optimism floating around. But there might be something more specific at play for Avalanche.
A lot of the chatter is focused on the upcoming Digital Asset Treasury, or DAT. The Avalanche Foundation is reportedly looking to raise something in the neighborhood of $1 billion for it. That kind of news tends to get people speculating about future inflows and ecosystem growth. It creates a buzz.
Amid all this rising activity, there’s another metric that’s been climbing steadily. The total value locked on the chain has more than doubled over the last six months. It’s a sign that more assets are being parked within Avalanche’s DeFi applications, which suggests growing user confidence.
It feels like a bunch of factors are coming together at once. The market is up, a major initiative is on the horizon, and the on-chain metrics are reflecting genuine use. Whether this is the start of a longer trend or just a good moment is hard to say. For now, the network is certainly having one of its better stretches.
