Avalanche (AVAX) is showing signs of renewed growth with its price poised to rise towards a new high. Despite recent sluggishness, the token has witnessed a notable increase in DeFi activity. This trend indicates a potential surge in demand for AVAX, particularly from users participating in decentralized applications and stablecoin-related activities. 3-month gains currently sit at around 12%, trailing behind some peers. Despite this, the network’s stablecoin supply has seen significant growth recently, with USDC showing an even more impressive jump of 31% over the past month. Notably, trading on decentralized exchanges (DEXes) is more active than ever. The daily transaction volume on Avalanche has surged almost five times higher compared to last month. This indicates that traders are engaging in DeFi activities without necessarily relying solely on AVAX itself.