After Binance added AVAX as a cashback option for its Bybit Card product, TheTie data revealed that a total of 3,898 wallets on the Avalanche blockchain have increased their holdings of Wrapped AVAX (WAVAX) in the past 24 hours, nearly double the recent average of 1,600 wallets. However, it remains to be seen whether this buying activity will translate into price stability or a rebound. According to reports, WAVAX can achieve wider compatibility in DeFi applications. The number of wallets holding WAVAX is increasing, which may indicate that users are ready for future DeFi activities. Avalanche's DeFi ecosystem includes major protocols such as Aave and Lido, and its TVL has declined slightly over the past few months, however, the network's transaction volume has been growing steadily.