Institutions Drive AVAX Activity Amid Retail Slowdown
Key Takeaways
The Avalanche (AVAX) blockchain is currently exhibiting intriguing market behaviour: while retail investors are gradually pulling back, activity among large investors—so-called whales—is on the rise. Despite a drop in user numbers and transactions, network fees have increased significantly. This development could signal an upcoming price shift. However, the situation remains complex.
Decline in Transactions and Users
According to data from Nansen, the number of active addresses on the AVAX network has dropped by 74% in a short period—from over 1.5 million to around 414,000. The number of transactions has also decreased by 34% to just under 3 million. These figures clearly indicate waning interest from the general public.
Such a decline in activity is often a warning sign. Fewer users mean less demand—which can negatively impact the price. Nevertheless, the AVAX price has remained relatively stable so far.
Rising Fees Driven by Institutional Activity
At the same time, the network has seen a 116% increase in transaction fees to around 243,000 USD within a week. These fees arise from the use of the blockchain—the more and the more complex the transactions, the higher the fees.
Analyses suggest that institutional investors are primarily behind this increase. These so-called whales are conducting larger transactions, which drive up the fees. Their activity can be interpreted as a sign of confidence—they continue to invest in AVAX despite declining retail activity.
Whales Buying AVAX in Large Volumes
In the past 24 hours, large investors have purchased AVAX tokens worth 10.62 million USD—almost as much as at the previous annual high on April 6. Purchases this week alone total approximately 23 million USD.
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Activity on decentralised exchanges (DEXs) is also increasing. Current trading volume stands at 161 million USD. If this trend continues, the volume could soon surpass the 200 million mark again—a potentially bullish signal.
Technical Analysis: Resistance at 26.47 USD
The AVAX price is currently stable but is facing resistance at 26.47 USD. If this level is broken, a rise to as much as 41.90 USD is conceivable—an increase of around 58%.
However, this breakout heavily depends on whether whales continue buying and whether the spot markets can absorb the supply. If retail demand remains absent, AVAX may fall back into its previous price pattern—a so-called ascending triangle.
Our Assessment
Currently, AVAX presents a mixed picture. On one hand, interest from retail investors is clearly declining. On the other hand, institutional players continue to invest large sums. This development may provide short-term stability but also carries risks.
If you’re considering investing in AVAX, you should keep an eye on transaction fees, whale activity, and technical price analysis. A sustainable price increase is only possible if interest from the broader public returns.
The market remains volatile—making informed decisions is crucial.
Sources
- Nansen
- CoinGlass
- Artemis
- TradingView
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