According to Odaily, Avalanche, a prominent player in the cryptocurrency market, has released its financial report for the second quarter of 2024. The report highlights significant growth in various aspects of the company's operations.
The total expenses and income for Avalanche in the second quarter reached $3.5 million. The trading volume of AVAX, Avalanche's native cryptocurrency, reached an impressive $42.5 billion, marking a growth of over 165% compared to the same period last year.
In the second quarter, Avalanche conducted more than 101 million transactions. Over 2.3 million new addresses were created across all subnets, bringing the total number of unique addresses to over 21 million, a 92% increase compared to the same period last year.
The total value locked (TVL) in Avalanche stood at $710 million. The sales of Non-Fungible Tokens (NFTs) exceeded $28.3 million, a tenfold increase year-on-year. The total market value of stablecoins on the chain reached $1.6 billion, with USDT and USDC growing by 10.1% and 4.4% respectively.
These figures indicate a strong performance by Avalanche in the second quarter of 2024, demonstrating the growing acceptance and use of its platform and native cryptocurrency, AVAX.