Recent data reveals a surge in Avalanche network activity, with over 2.2 million active addresses signaling potential price movement for AVAX. This growth is attributed to factors like the social Fi protocol The Arena app and increased liquidity within the ecosystem. However, despite this positive network development, AVAX price has remained stagnant. Avalanche transactions have been on a steady rise in recent weeks, exceeding 1.2 million in June’s first week. The previous high for these transactions was reached back in February 2024. The increase in transaction activity reflects robust network growth which often correlates with increased demand for the native AVAX coin. However, the price of AVAX hasn’t reflected this positive network development. It has declined by about 7% in the last week, signaling potential weakness in investor confidence. The drop in price could potentially result in a revisit of previous support levels near $19.09 if bearish momentum persists. The lack of strong buyer response to recent network activity suggests that while growth is occurring, it hasn’t yet translated into demand for the cryptocurrency, and this could be key for future price action.