April has been a remarkable month for Avalanche (AVAX). The network has witnessed notable growth in several areas, including a significant surge in daily active addresses since the beginning of the month.
Avalanche’s daily active addresses remained below 45,000 from January to March. However, the network has experienced rapid expansion in the last three weeks, with daily active addresses exceeding 80,000.
So, what’s the reason behind this tremendous expansion? Recent reports indicate that aggressive subnet deployment has led to the exponential growth of IP addresses, ultimately resulting in increased user engagement and the network’s utility.
Avalanche’s subnets have particularly attracted the attention of gaming-related initiatives. Gaming DAO MeritCircle.io is developing a subnet for its Beam network on Avalanche, which is presently working on WEB3 game development.
This move positions Avalanche to take advantage of growth potential in the fast-paced WEB3 gaming industry, indicating the network’s strengthening prospects.
The rising demand for Avalanche subnets has resulted in an increase in development activities. At the time of writing, Avalanche’s development activity is at its peak in the previous four weeks.
The network’s increasing daily active addresses have boosted its liquidity, leading to a 28% month-over-month price rally, with a high of $21.57.
However, the network has experienced a significant selloff in the previous twenty-four hours, driving its price to $19.51 at press time. This decline is unsurprising after Avalanche’s strong rally, which pushed it into the overbought zone.
The price decline also followed a significant drop in volume over the previous twenty-four hours. Despite the selloff, Avalanche’s aggressive subnet deployment and rising development activities indicate a promising future for the network.