According to IntoTheBlock, even though price trends are downward, the on-chain activity for Layer 1 networks such as Ethereum, Avalanche, and Litecoin remains strong. This resilience is in contrast to smaller tokens and memecoins, which are losing momentum as fewer new users are entering the market.

According to Miles Deutscher, recent net-flow activities have shown a significant movement of assets from Solana to EVM-compatible chains such as Ethereum, Arbitrum (Hyperliquid), Base, and Avalanche. This redistribution of assets suggests traders are seeking new opportunities as the activity on Solana decreases, potentially impacting liquidity and trading volumes across these platforms.

According to @intotheblock, the Avalanche network has seen a significant increase in activity, with daily active addresses surpassing 250,000, marking the highest on-chain activity levels since May 2023. This surge in activity could indicate increased interest and potential trading opportunities on the AVAX token as higher network usage often correlates with price movements.

According to ZachXBT, Avalanche has a block explorer maintained by Etherscan called Snowscan. This information clarifies that, besides Ethereum and other EVM chains, Avalanche also benefits from Etherscan's block explorer services.