Avalanche has reported impressive growth in its Q2 2024 financial and network metrics, signaling strong performance and adoption.
During this quarter, Avalanche’s fees and revenue totaled $3.5 million, reflecting the platform’s increasing utility and engagement.
Meanwhile, AVAX trading volume surged to $42.5 billion, marking a remarkable 165% increase compared to the same period last year.
The network metrics for Q2 2024 highlight Avalanche’s expanding reach and activity. Over 101 million transactions were conducted, and 2.3 million new addresses were created across all subnets. This growth brings the total number of unique addresses to over 21 million, representing a 92% increase year-over-year.
. @avax Q2 2024 Financial Report
Avalanche’s fees and revenue in Q2 reached a total of $3.5M
Meanwhile, AVAX trading volume saw an impressive $42.5B, a more than 165% increase compared to the same period last year pic.twitter.com/GsVEWp2C7n
— Coin98 Analytics (@Coin98Analytics) July 8, 2024
Remarkable Milestone To Monitor On The Avalanche Ecosystem
Avalanche’s ecosystem metrics also showcased significant milestones. The total value locked (TVL) on the platform reached $710 million by the end of Q2. NFT sales volume exceeded $28.3 million, a tenfold increase compared to the previous year, underscoring the burgeoning interest in Avalanche’s NFT marketplace.
Additionally, the total stablecoin market cap on Avalanche hit $1.6 billion, with USDT and USDC growing by 10.1% and 4.4% quarter-over-quarter, respectively.
These figures reflect Avalanche’s robust growth and its increasing appeal to users and developers alike. The significant rise in trading volume, transaction count, and new addresses indicates a thriving network with a strong user base. The surge in TVL and NFT sales volume further emphasizes the platform’s expanding ecosystem and its potential for continued growth.
In conclusion, Avalanche’s Q2 2024 report highlights substantial progress in both financial and network metrics. The platform’s impressive performance and growing adoption underscore its position as a leading blockchain in the industry, poised for further success and innovation in the coming quarters.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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