AVAX has been expanding its reach in various areas over the past few months, but one aspect that has seen tremendous growth is its smart contract deployment.
With this significant milestone, many investors and traders alike are speculating whether this development could be the catalyst that propels the Avalanche Network native token’s price to new heights.
Will this newfound growth in smart contracts lead to a surge in AVAX’s value?
Contract Deployment Spike Could Boost AVAX AdoptionAccording to the latest CoinMarketCap data, Avalanche (AVAX) has experienced a minor 2.04% dip in its price over the last 24 hours, but still remains relatively steady at $17.04.
Despite this slight setback, data from Artemis reveals that the network has witnessed a significant spike in contract deployment, which can be a positive indicator for the protocol’s usage and adoption.
The contract deployment of $AVAX has recently hit its highest levels in over six months.
After analyzing the on-chain activity, we found that contract deployment hasn’t seen such growth since May 2022. pic.twitter.com/ehkVk7ZrrK
— Artemis
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