Avalanche AVAX, the layer one Blockchain serving as a versatile platform for decentralized applications and custom Blockchain networks, witnessed a remarkable surge last month, soaring over 102% and achieving its peak for the year at $24.54 during November.

Delving into the Avalanche Ecosystem, insights from Intotheblock reveal noteworthy dynamics. Over the past year, the ecosystem experienced significant volatility in volume. After a period of declining volumes, November marked a robust resurgence, with total weekly transaction volumes hitting levels not seen since May 2022.

Avalanche AVAX Hits 3.07 Million Transactions

A standout moment occurred on November 20, as the transaction count on Avalanche’s C-Chain set a new record, reaching an estimated total of 3.07 million transactions.

In the recent 7-day span, $AVAX unsurprisingly led in transaction volume. Noteworthy, $GMX and $Joe maintained substantial and consistent volumes, indicative of a dedicated user base.

When scrutinizing addresses, Traderjoe_xyz emerged second in the number of addresses holding tokens, trailing behind AVAX. GMX, Pangolin, Platypus, and Benqi closely follow, presenting a competitive landscape in terms of holders.

Over A Notable 66% Of AVAX Holders Are Currently On Profit

An analysis of holders reveals that over 66% of AVAX holders are currently in profit. Similarly, GMX (41.80%) and Joe (37.90%) display robust profit ratios. However, it’s worth noting that a significant portion of investors remains below break-even.

A notable trend in the Avalanche ecosystem is the decreasing proportion of whale holders over the last two years, dropping from 62% to the current 43%. While a high concentration of whale holders may raise concerns about price stability, in this context, it signals a more balanced distribution.

Massive Number Of Holder’s Growth In The Last 2 Years

Moreover, the ecosystem has matured as the number of holders surged from 776,000 to 6 million in the past two years. This shift reflects a broader and more dispersed distribution of holders, coupled with a reduced concentration of whales, signifying the growth and maturation of the Avalanche Ecosystem.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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