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

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