- The X user Emperor Osmo revealed that the number of new contracts on Avalanches-C-Chain has reached a 6-month high.
- Despite the positive development, the price of AVAX dropped 1.93% over the past 24 hours.
- A significant bullish technical flag was on the verge of being triggered on AVAX’s daily chart.
The number of new smart contracts deployed on Avalanche’s (AVAX) C-Chain have spiked over the past few days. In an X (formerly Twitter) post published earlier today, the X user Emperor Osmo revealed that the number of new contracts on this specific chain has reached a 6-month high.
New Contracts deployed on @avax C-Chain reach a six-month high.Quite a bit happening on the red chain. pic.twitter.com/JtcJLN9UF5
— Emperor Osmo (@Flowslikeosmo) October 17, 2023
The positive development was not able to influence AVAX’s price positively. At press time, the cryptocurrency market tracking website CoinMarketCap indicated that the altcoin suffered a 24-hour loss of 1.93%. Furthermore, this latest drop in price had pushed AVAX’s weekly performance down to -4.32%. As a result, AVAX was changing hands at $9.33.
Although AVAX recorded a decrease in price over th…
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