- Stablecoin supply on Avalanche climbed 14% in 30 days to $1.5 billion, while adjusted transaction volume jumped 715% to $131 billion.
- Avalanche decentralized exchanges processed $7.7 billion in July and $5.8 billion so far this month, highlighting strong demand.
- AVAX price has formed a bullish double-bottom pattern at $15.60 and may target $40 if it clears the $27.4 neckline resistance.
Avalanche showed strong network growth in recent weeks as stablecoin adoption accelerated. According to Artemis data, stablecoin supply on Avalanche rose 14% in the past month to $1.5 billion. Adjusted stablecoin transaction volume also surged by 715%, reaching $131 billion. This performance placed Avalanche among the most active blockchain networks in the stablecoin segment.
Decentralized exchanges built on Avalanche, including Blackhole, LFJ, and Uniswap, recorded significant trading activity. In July, transactions processed on these platforms reached $7.7 billion. So far in August, volumes have already crossed $5.8 billion, highlighting steady momentum in decentralized trading on the chain.
NFT Market Records Growth
Avalanche’s non-fungible token market also gained traction during the week. Weekly NFT sales climbed 52% to $1.42 million. The veBlack collection drove most of this demand, recording a 72% increase in its trading volume. Rising NFT activity added to the network’s expanding ecosystem utility.
Data from Nansen indicated that the number of transactions on the Avalanche network continued to trend higher. Over the past seven days, the chain processed 4.5 million transactions, marking a 55% increase. This steady rise in usage strengthened confidence in the network’s long-term growth outlook.
Entry into Tokenized Assets
Besides gains in stablecoins, decentralized trading, and NFTs, Avalanche also advanced into tokenized assets. Dinari Financial Network announced the launch of the first order book for U.S. stocks on Avalanche, opening a new market segment for the chain’s ecosystem.
On the technical front, AVAX was trading at $23.78 on Friday, August 15, reflecting a 60 percent rebound from its lowest level this year. The three-day chart revealed a double-bottom formation at $15.60, a pattern often associated with potential bullish reversals. AVAX has moved above its 50-day moving average and is nearing resistance at $27.4. A confirmed breakout above that neckline could propel the token toward $40, representing a possible 65 percent upside.
