Avalanche Active Addresses Hit 1.95 Million All-Time High Driven by MapleStory Universe Launch

Avalanche, a prominent blockchain platform, has witnessed a significant surge in active addresses, reaching an all-time high of 1.95 million. This milestone, reported by Dune, marks a consistent growth trend throughout May and signals a renewed bullish sentiment within the Avalanche community. The increase in active addresses is not an isolated event but is part of a broader trend of rising decentralized finance (DeFi) activity and growing institutional interest in crypto assets.

The surge in new users and network activity is driven by several factors, including the launch of MapleStory Universe, the web3 version of Nexon’s popular RPG franchise. This game has already marked over 30 million transactions from 1 million wallets during its test phase, indicating a strong demand for the Avalanche network. The platform's pivot to Avalanche is strategic, as it leverages the network's performance and scalability, which is expected to benefit AVAX holders on a broader scale. The recent activity spikes are likely to drive up demand for staking and gas, further bolstering the network's ecosystem.

Despite setbacks in the blockchain gaming sector during the first quarter of 2025 due to low DeFi activity, industry experts anticipate a smooth reversal this quarter. On-chain data reveals that non-fungible token (NFT) transactions are nearing the 2 million mark for the first time in two years, indicating a resurgence in DeFi activity. This trend has provided a significant boost to AVAX holders in recent weeks, contributing to the overall bullish sentiment.

The current price of AVAX stands at $23.15, reflecting a 3.5% uptick in the past 24 hours. The recent network activity has fueled bullish expectations, with some analysts predicting that AVAX could retest the $40 price level if it successfully breaks through the current resistance. The short-term $27 resistance is a key breakout zone for the asset, which could lead to a two-phase leap to $34 and $40. Some bulls are even pitching a parabolic rally to $50, contingent on significant institutional adoption.

Institutional backing has played a crucial role in Avalanche’s bullish momentum. BlackRock, a $9 trillion asset manager, has launched BUIDL, a tokenized US Dollar treasury fund on Avalanche. This initiative allows users to lock up and trade SBUIDL tokens, expanding the ecosystem to a wider user base. AVA Labs President John Wu highlighted the growth in tokenization and the significance of BlackRock’s institutional fund, stating that the financial landscape is undergoing a vast transformation. As more institutions move towards tokenization, significant leaps towards transformative digital financial services are expected, addressing investor demand and leveraging blockchain-enabled capabilities.