RWAs and stablecoins are powering AVAX’s price growth over the past one month

Avalanche chain has been booming. Not only on the price action front, but also as far as chain activity is concerned. While its price had weak buying momentum at press time, Futures volume seemed to be on the up.

Avalanche (AVAX) could finally be getting the spark it needs for institutional recognition. In fact, the Layer 1 blockchain has recently received much attention for its on-chain activity and price gains.

Stablecoins and Real World Assets (RWA) have been some of the key drivers of this growth.

The market capitalization of RWAs on Avalanche jumped by almost 58% in the last few days, according to a post by on X (formerly Twitter). Its value grew to $305.25 million from 39 instruments. Total holders of these assets were also up by a modest percentage, climbing to 7,725.