Avalanche's DeFi use surges 295% in weeks, AVAX One reports $49.9M Q3 net income amid growing network activity. - Pluang
Avalanche's decentralized finance (DeFi) adoption has skyrocketed 295% in two weeks, with deposits on Aave v4 exceeding $225 million, while AVAX price tests support at $8 amid broader market weakness.
The Avalanche network is experiencing explosive growth in decentralized finance activity, with deposits on Aave v4 surpassing $225 million and increasing by an impressive 295% within just two weeks. This surge comes as AVAX One, a treasury focused on Avalanche tokens, reported strong Q3 performance with $49.90 million in net income and significant gains in digital assets.
AVAX One has been actively purchasing AVAX tokens and shares, now holding over 14 million AVAX, with most staked to generate nearly 6% annual yield. Despite this institutional interest and growing network activity, the AVAX token is currently testing key support levels around $8, facing potential downside amid broader weak market conditions.
Market Context
As of November 14, 2026, the cryptocurrency market is predominantly bearish, with Pluang data showing that out of 50 major cryptocurrencies, only 4 have risen while 45 have fallen. Among notable movers, Balancer (BAL) gained 11.14% to Rp16.297, while Tezos (XTZ) fell 10.20% to Rp3.945 and MultiversX (EGLD) dropped 10.17% to Rp48.951 with 91% sell order activity.
The most notable figure is BAL's 11.14% gain.
Broader Market Pressure
The challenging market conditions are affecting multiple cryptocurrencies beyond Avalanche. Bitcoin has fallen below its 200-week moving average to around $65,700, driven by over $1.2 billion in liquidations, mostly from long positions. Cardano's ADA price dropped about 8.8% to $0.158, its lowest level since late July, coinciding with founder Charles Hoskinson's livestream stating the original Cardano roadmap is complete.
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