2024 L1 Recap Series: $AVAX – The Sleeping Giant with Snooze Mode On 🌋 Alright frens, time to talk #AVAX ! Remember when Avalanche was the talk of the crypto town? Fast forward to 2024, and it’s more like the quiet kid at the back of the class. Let’s dive in and see what’s up—or down, in this case.

Where Does AVAX Stand? 🔦👀

AVAX is technically crushing it, sitting pretty as the 6th largest L1 with a market cap over $15 billion. But when you zoom in… meh. 🧐

▶️ Price Check: Trading at $37.4, it’s down 74% from ATH and has a -3% ROI YTD. Ouch.💩🩸

▶️ Last 30 Days: Down 13%. Somebody hit snooze on the price pump.

Key Stats: Then vs. Now : Back in its prime, AVAX was firing on all cylinders—80k users and nearly 1M daily transactions in early 2022. Now?

📉 Daily Users: 50k since May 2024. 😅

📉 Daily Transactions: 260k. Flatline much? Meanwhile, $SOL ’s out there smashing records like it’s a video game.

Let’s not even talk about TVL. Well, actually, let’s: AVAX climbed back to $1.4 billion after hitting a low of $800 million in May. Decent recovery, but we remember the glory days of $8.5 billion in 2022. #Nostalgia  ⛈️📉

Retention Rate Woes: 🧐👉 AVAX’s Monthly Cohort Retention Rate at month 12 is 3%. Translation? Only 3% of users stick around after a year. TRX isn’t doing much better at 2%, but hey, at least misery loves company. 😅

Fees and Revenue: Daily Fees: Averaging $47k, but more often chilling around $8.5k-$38k. Not exactly stacking sats. ⛈️🧮

The Sleeping Giant Narrative: Sure, AVAX still has potential, but it feels like it’s waiting for something… anything to wake it up. 😵💤 Maybe a blockbuster dApp? A groundbreaking use case? A coffee? Who knows! 🤞

What Do You Think? 🥴👃 Is AVAX due for a comeback, or is it destined to hibernate forever? Share your thoughts, frens, and as always, DYOR before diving into this icy volcano. 🌋✨ #altcoins #AvalancheAVAX