The layer-1 cryptocurrency Avalanche has showcased a notable recovery from $17.3 to $27.7, accounting for a 60% increase. Consequently, the AVAX market cap was boosted to $11.7 Billion. The upward movement is supported by a rising channel pattern, offering dynamic support to buyers.
Additionally, the number of AVAX addresses with balance has steadily increased to 8.96 Million, according to Intotheblock. This steady rise from an on-chain activity is poised to surpass the 10 Million address mark, signaling more users are entering the AVAX ecosystem
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