Data: Nearly 4,000 wallets increased their holdings of WAVAX in a single day, 1.8 times the recent average level

ChainCatcher news, according to CoinDesk, after Binance added AVAX as a cashback option for its Bybit Card product, TheTie data shows that in the past 24 hours, a total of 3,898 wallets on the Avalanche blockchain have increased their holdings of Wrapped AVAX (WAVAX), nearly double the recent average of 1,600 increasing wallets. However, whether this buying activity will translate into price stability or a rebound remains to be seen.

It is reported that WAVAX can achieve broader compatibility in DeFi applications. The increasing number of wallets holding WAVAX may indicate that users are preparing for future DeFi activities. The DeFi ecosystem of Avalanche includes major protocols such as Aave and Lido, and although its TVL has slightly decreased in the past few months, the network's trading volume has been steadily growing.