Avalanche (AVAX) peaked at $20.31 on November 6 as it gave its best to recover from the bearish trend that engulfed the broader crypto market towards the tail-end of October and the opening days the current month.
However, on November 12, the cryptocurrency experienced a severe price correction that pulled it all the way down to $12.51. The following day, the altcoin made an immediate bounce-back as it reclaimed the $15 marker.
After that, Avalanche was once again on a downward trend that made it struggle to even just climb at $14. At the time of this writing, according to tracking from Coingecko, the 20th ranked digital currency in terms of market capitalization is changing hands at $13.50.
Over the last seven days, the asset has declined by more than 15% while during the past 30 days, its value dropped by 14.4%.
As it turns out, even an impressive growth in GameFi segment of the blockchain space is not enough to stop the bleeding for AVAX.
As Crypto Market Suffers, Avalanche Notches Growth Elsewhere
According to data shared on Twitter by Avalanche Talk, 10 GameFi projects running on the AVAX blockchain tallied significant increases in volume over the past week.
Province was the top gainer, posting an impressive 1,481.77% increase in volume in just a matter of seven days. Owloper (290.98%) was at second. Rounding up the top five were Dragon Crypto (279.76%), Hoppers Game (118.39%) and Step App (91.87%).
Meanwhile, RaceX (68.42%), Crabada (44.02%), XANA Metaverse (43.38%), Domi Online (41.42%) and BetSwirl (7.77%) also made the top 10-list of the indicator which aims to show how well a project is performing in a particular ecosystem.
TOP AVALANCHE GAMEFI WITH HIGHEST GROWING VOLUME 7D#GrowingVolume7D is an indicator of how well a project is performing across an ecosystem. Right now, let’s take a look at the #Avalanche gamefi projects with the highest growing volume in the last 7 days 👇#Avax $Avax pic.twitter.com/yfFJDG70JN
— Avalanche Talk (@Avalanche_Talk) November 14, 2022
Although there is a glaring gap between the increase in volume recorded by the top and least gainer, the most important takeaway is that despite the crypto market being painted in red once again, these projects under the umbrella of the Avalanche ecosystem managed to perform relatively well.
This also served as a confirmation of the notion that the GameFi segment of the vast blockchain industry has already started its rapid growth.
No Immediate Impact Yet On AVAX Price
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