Last week, the value of Avalanche rose by 60%, reaching its highest level since May 2022. However, on Monday, AVAX started to decline along with other digital currencies after Bitcoin dropped below $41,000.
Over the past 30 days, AVAX’s market capitalization has increased by 166% to $13.58 billion.
As of Tuesday night, the price of AVAX was at $37.05. In August, the majority of AVAX holders experienced losses, but in December, 78% of addresses in the network became profitable.
According to data from the IntoTheBlock platform, 21% of wallets holding AVAX are still in the negative. In October, AVAX was trading in the range of $20 to $24, but in November, there was a significant increase in investment.
At the beginning of December, large investors made nearly 1,000 transactions online for amounts starting at $100,000, creating favorable conditions for AVAX’s value to rise.
Major banks such as Bank of America, Citi, and JP Morgan are also considering utilizing the Avalanche blockchain for asset tokenization.
