Avalanche (AVAX) Spikes as the Network Witnesses Notable Growth

The surge to near new all-time highs for Bitcoin (BTC) and Ethereum (ETH) breaking to above $2700 adds to positive vibes for not just Avalanche

Avalanche (AVAX) price has spiked significantly in the past week as the blockchain network witnesses notable growth and handles an increasing transaction volume.

The surge to near new all-time highs for Bitcoin (BTC) and Ethereum (ETH) breaking to above $2,700 adds to positive vibes for not just Avalanche, but most altcoins.

At the time of writing, AVAX trades at $24.40, up over 10% in the past 24 hours.

AVAX price spikes amid network growth

The AVAX token is in an uptrend, and data from multichain analytics platform Nansen shows a staggering 168% surge in transaction activity for Avalanche over the past seven days.

This marks the highest increase among major chains, outpacing BNB Chain, ZKsync, Base, and Scroll. The volume of transactions on Avalanche has soared, and this activity is being driven largely by DeFi protocols and traders.

The network activity comes alongside a notable uptick in Avalanche's native token, AVAX. The surge includes the token climbing from lows of $15.69 to highs of $26.52.

Buyers have been buoyed by broader market optimism and fresh network sentiment.

Analysts attribute the upbeat tone to Avalanche's notable growth, which includes the network's role in facilitating real-world use cases.

For instance, the Indian town of Dantewada has digitized over 700,000 land records on Avalanche, aiming to introduce tamper-proof records and reduce legal costs.

This instance showcases Avalanche's potential for practical, large-scale adoption.

As transaction volumes hit a seven-day high, market sentiment suggests AVAX could be gearing up for further gains. Bitcoin's run to $105k and altcoins' upside signal the potential for more gains in 2025.

VanEck launches tokenized fund on Avalanche

Adding to Avalanche's momentum, investment giant VanEck has launched its tokenized VanEck Treasury Fund (VBILL) on the network, alongside BNB Chain, Ethereum, and Solana.

Announced by Securitize, VBILL offers institutional investors on-chain access to short-term U.S. Treasury investments, with a minimum entry of $100,000 on most chains and $1 million on Ethereum.

This move bridges traditional finance and blockchain, providing crypto firms with a secure, liquid way to tap into the treasury market.

Avalanche's inclusion in this multi-chain strategy highlights its growing reputation as a reliable platform for institutional-grade solutions.

The fund's deployment on Avalanche attests to the platform's scalability and security, further solidifying its position as a go-to network for innovative financial products.

In 2021, the bull market rally saw AVAX price hit an all-time high of $146. While bulls are 80% off that peak at current levels, they could see a new leg up.

Recent achievements, from transaction growth to institutional adoption, may be crucial catalysts for AVAX price. As the network attracts developers and investors, its role in the blockchain ecosystem looks set to expand even further.