Avalanche's Strong On-Chain Activity Fails to Boost Price

Avalanche (AVAX) is facing a crucial test of its support level at $7.10, but on-chain activity remains strong.

The DeFiLlama data shows that Avalanche TVL stands at around $473 million, with stablecoin supply on the network near $1.38 billion.

The RWA segment continues to be one of the strongest parts of the ecosystem, with roughly $851 million in assets.

Weekly DEX volume is around $686 million, while perpetuals volume exceeds $165 million after more than doubling over the past week.

However, network fees remain at only a few thousand dollars per day, leaving a gap between usage of the Avalanche ecosystem and direct value capture by the token.