With regards to its adoption, Avalanche (AVAX) is now on a slight bullish run as a result of favourable momentum from last month. The overall number of Monthly Active Users (MAU) on Avalanche rose to its greatest level over one million users in May, according to data from the proof-of-stake (PoS) blockchain system.
This precise number is estimated to be 1,080,950, which shows that investors have adopted it widely. Prior to reaching this record-breaking level, the MAU for April rose significantly from 416,758 users in March to 840,730 users in April.
Avalanche has remained a popular protocol with retail investors despite having less development activity and attention than other well-known PoS blockchain networks. As a result, the widespread adoption of the digital currency was sparked.
In this month of June, the blockchain has already put itself on an ambitious course. At the time of writing, there were more than 120,438 users on the site overall in just the first two days of this month. The likelihood that AVAX will reach its user count ATH for this month is high should this pace continue.
Implication on price
The price of the native token of the system maintains positive momentum as more users join Avalanche. AVAX is currently trading at $14.47, up 1.97% in the last 24 hours and more than 5% over the previous week.
Although Avalanche has been on a calmer upward trajectory, its expanding acceptance provides a promising upside that may spark a parabolic surge in the coin’s price in the future. The protocol has continued to sign agreements with a number of Web2.0 and native Web3.0 businesses to strengthen its technology and services available to users worldwide.
