- Avalanche (AVAX) price rose 9% to above $18 as markets rebounded following a détente in geopolitical tensions.
- The AVAX price surge coincided with a significant uptick in on-chain activity, including active addresses and transaction volume.
- Cryptocurrencies climbed after reports that Israel and Iran agreed to a ceasefire, and AVAX could test $30 or higher in the coming weeks if momentum continues.
The Avalanche (AVAX) token posted a notable price increase Tuesday morning as crypto markets reacted to easing geopolitical tensions.
AVAX climbed to an intraday high of $18.40, marking roughly a 9% gain over the past 24 hours. This rise was supported by a pronounced increase in on-chain activity across the Avalanche network.
Avalanche ranked among the top gainers during Asian trading hours, reflecting broader gains seen in Bitcoin, Ethereum and Solana.
Most cryptocurrencies returned to key technical levels after U.S. officials said both Israel and Iran agreed to a ceasefire to end a “12-day war,” a development that helped lift risk assets across the board.
Surge in on-chain activity
The Avalanche network has experienced a surge in on-chain activity in recent days.
Optimism around AVAX has been building since late May, when Bergen County in New Jersey announced plans to tokenize roughly $240 billion in property deeds on the Avalanche blockchain.
The multi-year initiative aims to digitize more than 370,000 property records across the county using blockchain technology.
Leading blockchain analytics platform Nansen highlighted a sharp increase in active addresses and transactions over the past 24 hours, suggesting renewed user engagement.
The Avalanche Foundation also published a chart showing transaction growth over the past year, underscoring rising network usage.
Over the last 24 hours the network processed more than 1.13 million transactions, a sign of growing utility and adoption.
Active addresses jumped about 80% to 194.8k, reflecting a substantial influx of new and returning users.
Major platforms such as OpenSea, Tether and Bybit are driving much of the activity, with increased NFT trading and stablecoin transactions contributing to the volume.
Earlier this year the Avalanche9000 upgrade improved network scalability and transaction throughput, a likely factor in the recent spike in usage.
This renewed engagement indicates developers and users are leveraging Avalanche’s high-performance infrastructure, positioning it as a competitive option in the blockchain space.
AVAX price outlook
On the four-hour chart, Avalanche presents a technically bullish picture.
After rebounding from recent lows near $15.70, the altcoin appears set to continue climbing along an upward trendline.
The moving average convergence divergence (MACD) recently generated a bullish crossover, which supports the case for further upside in AVAX.
Relative strength index (RSI) readings also favor buyers, currently hovering around 63 and not yet overbought.
With room to run, bulls may look for breakouts toward resistance levels near $19.81 and $22.54 as the next milestones on the path higher.