Avalanche bleeds $1B in stablecoin market cap – What’s next for AVAX? – BitRss

• Avalanche celebrates healthy transaction growth, but it has been bleeding liquidity.
• AVAX demand cools off, but can the bulls make a comeback as price enters major short term support?

At press time, Avalanche [AVAX] was hovering at the eleventh spot in crypto ranking by market cap. But can it leverage its growing transaction count to level up into the top ten, or will market pressure push it lower?

The next move for Avalanche will mostly depend on network performance. A network analysis yielded some mixed results.

For example, the Avalanche blockchain has been experiencing positive growth in terms of daily transactions.

Daily transactions soared to a 10-month high of 586,650 transactions on the 8th of January, a confirmation of healthy growth in terms of network utility.