Avalanche, One of the important Layer1 project in Crypto saw a tremendous growth in Last 6 months both in price ,& development. While the price of native token $AVAX almost shoot 4x, the volume & TVL in DeFi also hits a record ATH. It's a genuine growth or just a hype-hoppers celebration, Let's Sink in
TVL Makers in Avalancheย
๐นTrader Joe: Trader Joe is a one-stop platform for decentralized trading and lending, offering users a true โone-stop-shopโ DeFi experience. Trader Joe has surpassed Pangolin to be the biggest Dex on Avalanche. It has a TVL of $245.2m and a volume of $2.015b.
๐นCurve: Curve is an exchange liquidity pool on Ethereum designed for extremely efficient stablecoin trading, low risk, supplemental fee income for liquidity providers, without an opportunity cost. Curve is one of the first DeFi protocols to launch on Avalanche through the Rush program. It has a TVL of $1.07b and a volume of $1.03b.
๐นPangolin: Pangolin is a decentralized exchange aggregator that allows users to swap between multiple DEXes with low fees and high liquidity. Pangolin is also one of the first DeFi protocols to launch on Avalanche through the Rush program. It has a TVL of $0.97b and a volume of $0.96b.
๐นSushiSwap: SushiSwap is a popular decentralized exchange that offers a variety of features such as yield farming, liquidity mining, governance, and NFTs. SushiSwap is also one of the first DeFi protocols to launch on Avalanche through the Rush program. It has a TVL of $0.94b and a volume of $0.93b.
๐นSynapse: Synapse is a decentralized exchange that leverages the power of Avalancheโs fast and cheap transactions to provide users with high-speed and low-cost swaps. Synapse also supports cross-chain interoperability and NFTs. It has a TVL of $0.83b and a volume of $0.82b2.
Top Dexes On Avalancheย
๐นTrader Joe: Trader Joe is a one-stop platform for decentralized trading and lending, offering users a true โone-stop-shopโ DeFi experience. Trader Joe has surpassed Pangolin to be the biggest Dex on Avalanche. Some of its main features are:
Trade: Trade between tokens with its automated market maker (AMM) exchange
Farm: Stake LP tokens into Farms and earn JOE in return
Stake: Stake JOE tokens to earn more JOE tokens, by sharing protocol revenue generated
Lending/Borrow: Users can lend and borrow tokens from Banker Joe
NFT Marketplace: Trader Joe will become an ambassador of NFT culture, developing a market-leading platform, to ignite the growth and integration of the metaverse, on the Avalanche blockchain.
๐นCurve: Curve is an exchange liquidity pool on Ethereum designed for extremely efficient stablecoin trading, low risk, supplemental fee income for liquidity providers, without an opportunity cost. Curve is one of the first DeFi protocols to launch on Avalanche through the Rush program. Some of its main features are:
Swap: Swap between stablecoins (DAI to USDC for example) through it with low fees and low slippage
Curve V2: A new version of Curve that introduces a new governance token (CRV) and a new fee distribution model
Curve Vault: A feature that allows users to create custom pools with their own parameters and incentives.
๐นPangolin: Pangolin is a decentralized exchange aggregator that allows users to swap between multiple DEXes with low fees and high liquidity. Pangolin is also one of the first DeFi protocols to launch on Avalanche through the Rush program. Some of its main features are:
Swap: Swap between any pair of tokens across different DEXes with minimal slippage and fees
Pangolin Index: A feature that tracks the performance of various DEXes based on their volume, liquidity, and price impact
Pangolin Bridge: A feature that enables users to transfer assets across different blockchains using Pangolinโs cross-chain aggregator
On-chain Growth Of Avalancheย
๐นDaily Active Address (DAA) Are skyrocket after April 2023 High. Though it's increasing still โ of April High.ย
๐นThe Fees are burning in an insane Growth in last 30 Days. More than 300,000 AVAX are burned in Fees.ย
๐นThe Dex Volume on Avalanche just blasted. And now in All-time High of 2023. Weekly the volume changed more than +100%.ย
๐น Fees And Revenue Almost +300% on weekly Basis. These on chain data only signify the upcoming growth of Avalanche.ย
Recent Growth on Avalanche
๐น Avalanche C-Chain Gas spent more than $20 million in the past seven days. In the past 7d, inscription activity accounted for 72.3% of the gas consumption and 86.5% of the transactions on the Avalanche C-Chain.
๐นGas fees briefly spiked past 5,000 nAVAX ($4.5) when Trade Joe co-founder released BEEG inscription minting.
๐นAvalanche Network processed an All-Time High in transactions on 17th December 2023. 7,133,973 transactions 17th December (977 Max TPS). This comes as Avalanche has also hit an All-Time High in Validator count (1645).
๐น Inscription Attack on avax saw a major outrage in gas fees in Avax people are literally paying more than double feen than $ETH in Avalanche.ย
๐นIn the recent week, users have contributed nearly $19.1 million in fees within the Avalanche C-Chain network. This substantial surge in transaction fees is attributed to the minting of BEEG, initiated by one of the co-founders of the TraderJoe platform.
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Avalanche on right track, the on-chain Growth is Superb & quite mind-blowing. After solana Avalanche surely stared another L1 season like last Bull Run. On price metrics Avax 4x in recent times justify the on-chain Growth, we belive there's lots of fuel left in avalanche for next Leg.ย
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