Avalanche's DeFi activity is growing, but AVAX's price has not followed. Aave v4 deposits on the network jumped, and AVAX One reported Q3 net income of $49.90 million, yet AVAX is testing support between $8 and $9.
Avalanche deposits on Aave v4 surpassed $225 million, even though the product launched this July. The move was Aave v4's first expansion beyond Ethereum.
Total deposits on Aave v4 crossed $1.75 billion, an all-time high. That figure indicated Avalanche deposits grew by over 295% in two weeks since the end of October.
Meanwhile, active loans for Aave v4 on Avalanche topped $100 million. According to AMBCrypto, this implied that both liquidity and utility were growing on the chain.
AVAX One reports Q3 net income of $49.90 million
AVAX One, a Nasdaq-listed treasury focused on Avalanche tokens, reported $49.90 million in Q3 net income, driven by $55.10 million in unrealized digital asset gains. Revenue reached $2.40 million, up more than 4 times from $526K in Q3 2025.
The firm also eliminated over $14.90 million of convertible debt in Q3, and the balance is now zero. Its focus now turns to buying the AVAX token and treasury shares.
AVAX One now holds 14.17 million AVAX, with 99.7% of that amount staked at an annualized rate of 5.85%. The treasury also repurchased 384K shares in Q3 and another 701K shares in October.
AVAX tests $8 support despite the buying
At the time of writing, AVAX was testing a key support level as its price extended a sideways range between $8 and $9. AMBCrypto says the participation and AVAX One's buying are not exactly translating into real demand.
The level could break and test $7.82 as selling momentum gains pace, and a resurgent red MACD histogram seemed to hint at the same. However, the altcoin may rebound from the $8 level, as it has done over the past five instances.
Bears, on the other hand, may break down the level because the broader market is weak. That puts $7 as the next demand level where bulls could return.
Source: AMBCrypto
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