Avalanche’s network has witnessed its best month of the year so far in April, with substantial growth in several areas, particularly daily active addresses.
The network has expanded rapidly in the last three weeks, with the number of daily active addresses surpassing 80,000. This increase can be attributed to the aggressive deployment of subnets, which has enhanced the network’s utility and attracted users, particularly those involved in gaming initiatives.
The gaming DAO, MeritCircle.io, is currently developing a subnet for its Beam network on Avalanche. This development positions the network to take advantage of the growing demand for WEB3 gaming, which is expected to surge in the near future.
As a result of its expanding prospects, Avalanche has witnessed an increase in development activities. Its development activity was at its peak in the previous four weeks, further supporting its strengthening prospects.
AVAX’s liquidity received a boost due to the increase in daily active addresses, leading to a price rally of 28% month over month, with a high of $21.57.
However, the network experienced a significant selloff in the last twenty-four hours, driving its price down to $19.51 at press time. This price decline followed a considerable drop in volume over the previous twenty-four hours.