Avalanche (AVAX) Shows Mixed Signals With Rising TVL and Resistance Test Amid Weak Network Activity
Main Idea
Avalanche's AVAX shows mixed signals with a 40% increase in DeFi TVL post-Octane upgrade, but faces challenges like declining social engagement and network activity.
Key Points
1. Avalanche's DeFi TVL surged nearly 40% to $1.5 billion after the Octane upgrade, indicating enhanced capital inflow.
2. AVAX derivatives open interest rose over 15% to $835.44 million, suggesting increased market demand.
3. AVAX is testing the $26–$28 resistance zone, with potential for a breakout if bullish momentum continues.
4. Despite a decline in social dominance (0.419%), weighted sentiment improved to +0.115, reflecting cautious optimism.
5. Network activity declined, with a 33.93% drop in new addresses and over 10% decrease in active addresses, raising concerns about organic growth.
Description
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