Trader Joe on Avalanche has been experiencing a decent performance in terms of its volume. A sustained rally by the DEX could potentially impact AVAX and the Avalanche ecosystem. Avalanche was successful in securing several important relationships during the preceding year. Despite these agreements, the native token of the company, AVAX, had not been able […]
has kept track of some fascinating and remarkable statistics on their swaps. The visible trade swap volume peaked in December 2022 and grew continuously into January.
The GMX/WETH swap dominated the swap volume statistics, closely followed by the USDC/WETH combination.A review of the protocol’s trading volume per liquidity pool revealed a respectable number of transactions, which is evidence of the robustness of the protocol’s liquidity.According to information provided by DeFiLlama, the Total Value Locked on Trader Joe was $77.43 when this article was written.
Because AVAX has not been particularly outstanding in the longer timeframe study, this came as a small relief to short-term holders. At the time of writing, it was trading at around $11.80, and within the same trading session, a loss of approximately 2% was also seen.Is it possible for Trader Joe to continue on its upward trajectory and for Avalanche and AVAX to benefit from these positives? The response to that important question will be revealed depending on how the remainder of the year goes, in addition to the subsequent performance of both the protocol and the network.Subscribe to get it daily in your inbox.
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