Over the past 24 hours, the price of Avalanche (AVAX) has experienced a significant surge, climbing by more than 9%. This remarkable uptick in value coincides with a noteworthy development within the Avalanche ecosystem.

According to data from Intotheblock, Avalanche has witnessed a substantial increase in the total volume of large transactions, reaching a staggering $329 million on Monday. 

The total volume of large transactions on Avalanche hit $329 million on Monday, the highest daily amount since December. This indicates increased activity of large holders.
🔗https://t.co/uEam7LI5qY pic.twitter.com/6VAxo4V1j9

— IntoTheBlock (@intotheblock) March 13, 2024

This surge in large transactions suggests heightened activity among major holders of AVAX tokens, indicating growing confidence and engagement within the Avalanche network. 

Furthermore, the decentralized exchange platform Trader Joe has seen a surge in trading activity, processing over 165,000 transactions in total yesterday, resulting in approximately $300 million in trading volume. 

Big day of trading on #Avalanche yesterday.

Trader Joe processed over 165k transactions in total, generating approximately $300m in trading volume.

Proud to support and facilitate trading of Avalanche’s best and brightest tokens 🔺 pic.twitter.com/0V0qKRLve7

— Trader Joe (@TraderJoe_xyz) March 13, 2024

This uptick in trading activity underscores the growing popularity and adoption of Avalanche among traders and investors.

Avalanche AVAX Expands The Size Of Its Board Of Directors

In tandem with the increased market activity, the Avalanche Foundation has made significant strides in improving its channels of communication and governance. 

Notably, the Foundation has expanded the size of its board of directors, welcoming key figures such as Avalanche FDN director @demirelo, avax 2023-x director @Ahnor_Block, and Avalanche Foundation director @Vikram_Nagrani. 

The Avalanche Foundation announced today it’s expanding its Board of Directors, alongside the launch of a new X account, to provide regular updates and info related to the Foundation’s mission to foster innovation, collaboration, and sustainable growth within the Avalanche… https://t.co/aq2SRkhLgf

— Avalanche 🔺 (@avax) March 13, 2024

This expansion aims to enhance transparency, decision-making, and overall governance within the Avalanche ecosystem, ensuring that the platform remains well-equipped to foster innovation, collaboration, and sustainable growth.

Additionally, the launch of a new X account by the Avalanche Foundation signifies a commitment to providing regular updates and information related to the Foundation’s mission and initiatives. Through these efforts, the Avalanche Foundation seeks to empower community members and stakeholders with valuable insights and resources, further strengthening the ecosystem’s foundation for long-term success.

Overall, the combination of increased market activity, governance enhancements, and improved communication channels reflects a positive trajectory for Avalanche, signaling growing momentum and confidence in its future prospects.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: inueng/123RF // Image Effects by Colorcinch

The post Avalanche (AVAX) Price Surges Amidst Increased Activity And Governance Developments appeared first on The Merkle News.

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Filed under: Bitcoin - @ March 13, 2024 10:09 pm