$AVAX will rise

Avalanche burns AVAX at record speed

If the burn rate remains at the spot rate, approximately $400 million in tokens could disappear from circulation. This could be an important number to support AVAX bulls in the long term, as reducing supply with constant demand will naturally lead to higher prices.

The heightened activity in recent days stems from more than 2.3 million daily transactions related to users creating and transferring "ASC-20" tokens to permanently write data to Avalanche's C-chain. On average, the Avalanche C chain processes approximately 450,000 transactions per day. However, looking at on-chain data, this number has been changing in recent days.