Transactions and Users

As in the previous section, the number of users and transactions doesn't appear to have a direct impact on Joe's price. However, here, we can observe how these numbers have changed during a positive price movement. Over the past 90 days, approximately 60% of the total users were buyers, with the majority of these transactions occurring in June 2023. In recent days, as the Joe price increased, both the number of buyers and sellers also increased. Notably, for the first time in the last 90 days, the number of sellers surpassed that of buyers. This indicates that users are inclined to sell their tokens at higher prices, possibly with the intention of repurchasing at a later time when prices decline due to market conditions. In terms of activity across both chains, Arbitrum and Avalanche, the higher level of activity was observed on Avalanche. This is quite evident as Joe is a native token of Trader Joe, and Trader Joe operates on the Avalanche chain.

JOE Positive Price Action!