Avalanche Surges Above $20 as MapleStory Universe Ignites Network Activity

Quick overview

Avalanche (AVAX) trades above $20, up almost 3% in the last 24 hours. This is because the blockchain network is making a big comeback because of the popularity of old-school games and new technology. This revival happened because of MapleStory Universe, a Web3 version of the popular online role-playing game from the 2000s. It has given life back to the Avalanche ecosystem.

MapleStory’s Web3 Launch Propels Avalanche Past Million Daily Transactions Milestone

The effect has been quick and big. Avalanche had more than 1 million transactions in a day twice in a week: once on June 1 and again on Saturday. This was the first time the network reached this level since February 2024. Blockchain analytics platform Nansen said that the weekly transaction volume for the week of June 2 surpassed 5.8 million. This is the biggest weekly total since early 2024.

For Avalanche, this huge increase is a big change. In early 2025, the company only did about 500,000 transactions a day. Until MapleStory N’s May 15 debut, when transaction volumes started to climb at an accelerated rate, the network was mostly calm.

Nexon’s Blockchain Bet Brings Institutional Weight to Gaming Narrative

Nexon, the South Korean gaming behemoth behind MapleStory Universe, is a big supporter of the gaming revival. The company is listed on the Tokyo Stock Exchange. Nexon is the 21st largest publicly traded company in the world that owns Bitcoin. This gives a lot of credibility to the Web3 gaming market. The corporation now has 1,717 BTC, which it bought in April 2021 and has kept through different market cycles.

MapleStory is a big part of culture, especially for millennials in South Korea and Southeast Asia, where the franchise was immensely popular in the 2000s and early 2010s. The initial game had virtual economies, in-game money, and things that could be exchanged. Blockchain technology is now trying to make these ideas better and add to them.

But it hasn’t been easy to make the shift. Even though people were enthused about Nexpace Coin (NXPC), the main currency of MapleStory Universe, at first, it has been challenging for it to keep up its momentum. When it first came out, NXPC was worth $3.77, which was its highest point ever. Now, though, it is worth $1.34, which is a 64% reduction. This highlights how risky new game tokens can be.

AVAX/USD Technical Analysis: Bullish Continuation Above Key Support Levels

From a technical point of view, AVAX is showing signs of strength after bouncing back from a low point of around $18.50. The cryptocurrency is presently trading above its 5-day, 10-day, and 20-day moving averages, which is a good sign because shorter-term averages are above longer-term ones.

The moving average structure shows that the market will keep heading up, and the 20-day moving average is currently acting as dynamic support. This level has always been respected by price action, and as long as AVAX maintains above $19.50, the rising trend should continue.

After a period of stabilization, the MACD indicator has recently moved above its signal line. This suggests that people are buying again. The histogram’s shift from negative to positive area suggests that momentum may increase soon. This technical combination, together with sustained volume during the recent rally phase, suggests that there is more room for growth.

Avalanche (AVAX) Price Prediction: RSI Approaches Overbought Territory

The Relative Strength Index (RSI) is getting close to the 70 mark, which is usually a sign of overbought conditions. Overall, things are still looking well. This indicator is over 65 right now, which means that there may be short-term consolidation or small pullbacks before the next move higher.

Traders are looking at the psychological $21 level as the next big problem. If this level is broken successfully, it could lead to testing levels of $21.50 or above. But if the price drops to $21, it doesn’t mean the market is weak; it just means that the uptrend is taking a healthy break.

ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

Why John Deaton Thinks Buying Bitcoin at $106K Still Makes Sense

8 h ago

Save

Binance.US Hints at Hyperliquid (HYPE) Listing, Trading Volume Jumps 20%

9 h ago

Save

Ethereum Faces Critical Support Test as Institutional Interest Surges Despite Price Decline

11 h ago

Save