As Avalanche's C chain experiences a surge in activity, the future of AVAX holds potential. The platform's expanding user base, growing dApp ecosystem, and rising interest in NFTs contribute to the growth.
AVAX price declined and volatility rose.C-chain, the primary chain responsible for transaction validation and network consensus. As the network gains traction, questions arise regarding the future of AVAX, the native cryptocurrency of Avalanche.Token Terminal’s data revealed that Avalanche was steadily progressing towards amassing one million monthly active users on the network. The rising activity indicates a growing user base and increasing utilization of the platform’s capabilities.
According to AVAXNFTSTATS, sales on the Avalanche NFT network experienced a notable surge of 37.5% in the past week. However, it’s worth noting that interest in blue-chip NFTs like Roostr and MONKEEZ declined, suggesting a shift in preferences among NFT enthusiasts.Coupled with NFTs, dApps on the Avalanche network also played a vital role in increasing activity on the protocol.
Notably, DeFi dApp protocol Benqi witnessed a 3.11% increase in unique active wallets, leading to a subsequent rise in the number of transactions conducted on the network. This highlights the expanding ecosystem of DeFi decentralized applications on Avalanche.Despite the heightened activity generated by dApps and NFTs, Avalanche has experienced a decline in revenue over the past month, with a notable drop of 14.1%.
, a stablecoin issued by Circle. The issuance of EUROC on Avalanche could also help the protocol expand in the DeFi sector, going forward.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Avalanche in northern Pakistan kills 11 members of nomadic tribeA snowy avalanche in northern Pakistan killed 11 people Saturday, including a four-year-old boy, and injured 25 from a nomadic tribe as they crossed a mountainous area with their goat herds, police said.
Read more »
Avalanche in northern Pakistan kills 11 members of nomadic tribe - Terrace StandardThe avalanche struck the nomads in the Chambeli area of Shounter Pass
Read more »
After Ethereum, stablecoin EUROC set to enter Avalanche’s foldThe aggressive EUROC push could be part of Circle's long-term vision to tap into the European market.
Read more »
How can Ethereum benefit from Blur’s NFT lending protocol?Blur's new NFT lending protocol Blend attracts vast majority of users. Overall interest in Ethereum NFTs begins to rise, contributing to the growing daily activity on the network.
Read more »
BNB Chain’s latest projects could mean this for BNB and its tradersBNB’s NFT ecosystem grew considerably in the last 24 hours as the number of buyers skyrocketed. A few metrics looked bullish on BNB as well.
Read more »
Bill Lee, jazz musician who worked with Bob Dylan and on son Spike Lee's early movies, dies at 94Bill Lee, a well-regarded jazz musician who accompanied such artists as Bob Dylan, Simon and Garfunkel and Harry Belafonte as well as scoring four of his son Spike's early films, including the hit 'Do the Right Thing' and two songs for 'Jungle Fever,' has died. He was 94.
Read more »