Avalanche Sees Surge In Daily Transactions, Active Addresses
According to the crypto data company Nansen, on-chain activity increased in the second quarter of 2023 for Ethereum (ETH) rival Avalance (AVAX).
Between 200,000 and 500,000 transactions per day were made on Avalanche’s C-Chain, the project’s default smart contract blockchain, during the second quarter.
The figures represent almost twice as many daily transactions as there were in Q1 according to the analytics company.
The data company also observes that Avalanche’s daily active address count increased consistently throughout Q2, peaking at 117,304 on June 14th.
Q2’s on-chain activity surge did not affect AVAX’s price, dropping 27% from $17.79 to $13.02 at the end of June. DeFi Llama reports a 20% decrease in Avalanche’s total value locked (TVL) from $867 million to $693.94 million on June 30th. TVL, which is determined by multiplying collateral locked into the network by asset current value, stands for the total capital held within smart contracts.
(With inputs from Shikha Singh)
You need to login in order to Like
